Blueprint Medicines Co. (NASDAQ:BPMC) Receives $124.95 Consensus PT from Analysts

Blueprint Medicines Co. (NASDAQ:BPMC - Get Free Report) has received an average recommendation of "Moderate Buy" from the twenty-three ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $124.95.

A number of equities analysts have recently weighed in on BPMC shares. StockNews.com cut shares of Blueprint Medicines from a "hold" rating to a "sell" rating in a research report on Monday, March 3rd. Piper Sandler increased their price target on Blueprint Medicines from $109.00 to $119.00 and gave the stock a "neutral" rating in a report on Monday, January 27th. JMP Securities reiterated a "market outperform" rating and issued a $125.00 price objective on shares of Blueprint Medicines in a research report on Friday, February 14th. Jefferies Financial Group started coverage on shares of Blueprint Medicines in a report on Monday, March 17th. They set a "buy" rating and a $135.00 target price on the stock. Finally, Wolfe Research assumed coverage on shares of Blueprint Medicines in a report on Tuesday, March 18th. They issued an "outperform" rating for the company.

Insider Activity at Blueprint Medicines

In related news, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $110.14, for a total transaction of $250,458.36. Following the completion of the transaction, the chief operating officer now owns 67,109 shares in the company, valued at approximately $7,391,385.26. This trade represents a 3.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kate Haviland sold 1,446 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $110.24, for a total value of $159,407.04. Following the completion of the sale, the chief executive officer now directly owns 149,378 shares of the company's stock, valued at approximately $16,467,430.72. The trade was a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,358 shares of company stock valued at $2,583,187. 4.21% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Blueprint Medicines

Large investors have recently added to or reduced their stakes in the business. Avoro Capital Advisors LLC bought a new position in shares of Blueprint Medicines in the fourth quarter valued at about $103,356,000. Norges Bank acquired a new position in Blueprint Medicines in the 4th quarter valued at about $62,028,000. Jennison Associates LLC bought a new position in Blueprint Medicines in the 4th quarter valued at about $31,417,000. Rock Springs Capital Management LP lifted its position in Blueprint Medicines by 42.7% during the fourth quarter. Rock Springs Capital Management LP now owns 1,096,899 shares of the biotechnology company's stock worth $95,672,000 after acquiring an additional 328,123 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Blueprint Medicines by 8.0% during the fourth quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company's stock worth $373,421,000 after acquiring an additional 316,754 shares during the period.

Blueprint Medicines Trading Up 3.1 %

Shares of BPMC stock traded up $2.51 during trading hours on Tuesday, reaching $84.62. The company had a trading volume of 634,400 shares, compared to its average volume of 768,626. Blueprint Medicines has a 1-year low of $73.04 and a 1-year high of $121.90. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80. The firm has a market cap of $5.41 billion, a price-to-earnings ratio of -78.35 and a beta of 0.75. The company has a 50 day moving average of $88.61 and a 200 day moving average of $93.24.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. On average, equities research analysts anticipate that Blueprint Medicines will post -1.28 EPS for the current year.

Blueprint Medicines Company Profile

Blueprint Medicines Corporation, a precision therapy company, develops medicines for genomically defined cancers and blood disorders in the United States and internationally. The company is developing AYVAKIT for the treatment of systemic mastocytosis (SM) and gastrointestinal stromal tumors; BLU-263, an orally available, potent, and KIT inhibitor for the treatment of indolent SM, and other mast cell disorders.