Blueprint Medicines (NASDAQ:BPMC) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) had its price objective lifted by equities research analysts at JPMorgan Chase & Co. from $126.00 to $129.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the biotechnology company's stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 22.88% from the stock's current price.

BPMC has been the subject of a number of other reports. StockNews.com raised shares of Blueprint Medicines from a "sell" rating to a "hold" rating in a research report on Friday, November 8th. Wells Fargo & Company dropped their price target on Blueprint Medicines from $153.00 to $151.00 and set an "overweight" rating on the stock in a research report on Thursday, October 31st. Guggenheim reaffirmed a "buy" rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. Wedbush reiterated an "outperform" rating and set a $124.00 price objective (down previously from $135.00) on shares of Blueprint Medicines in a research note on Monday, January 13th. Finally, Piper Sandler increased their target price on Blueprint Medicines from $109.00 to $119.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $123.72.

Blueprint Medicines Stock Down 4.2 %

BPMC traded down $4.64 during trading on Tuesday, reaching $104.98. The stock had a trading volume of 1,228,829 shares, compared to its average volume of 927,362. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $6.67 billion, a price-to-earnings ratio of -49.75 and a beta of 0.61. The stock's 50 day moving average is $99.11 and its two-hundred day moving average is $95.23. Blueprint Medicines has a one year low of $72.24 and a one year high of $121.90.

Insider Activity

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $89.77, for a total value of $1,346,550.00. Following the completion of the transaction, the director now directly owns 157,557 shares in the company, valued at $14,143,891.89. This represents a 8.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kate Haviland sold 1,446 shares of the firm's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $110.24, for a total transaction of $159,407.04. Following the sale, the chief executive officer now owns 149,378 shares in the company, valued at $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. Insiders sold a total of 49,851 shares of company stock valued at $4,984,696 in the last 90 days. Company insiders own 4.21% of the company's stock.

Institutional Investors Weigh In On Blueprint Medicines

A number of institutional investors have recently bought and sold shares of the business. Quarry LP bought a new position in shares of Blueprint Medicines in the third quarter worth about $32,000. R Squared Ltd purchased a new position in Blueprint Medicines in the 4th quarter worth approximately $51,000. Covestor Ltd boosted its stake in Blueprint Medicines by 206.7% in the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company's stock worth $55,000 after purchasing an additional 403 shares during the period. Asset Management One Co. Ltd. purchased a new stake in Blueprint Medicines during the 4th quarter valued at approximately $88,000. Finally, Van ECK Associates Corp raised its position in shares of Blueprint Medicines by 48.2% during the fourth quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company's stock valued at $97,000 after buying an additional 363 shares during the last quarter.

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.