Blueprint Medicines Co. (NASDAQ:BPMC) Receives Average Recommendation of "Moderate Buy" from Analysts

Blueprint Medicines Co. (NASDAQ:BPMC - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the nineteen brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, eleven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $120.00.

A number of equities analysts have issued reports on the company. Oppenheimer increased their target price on Blueprint Medicines from $114.00 to $125.00 and gave the stock an "outperform" rating in a report on Monday, July 8th. Robert W. Baird boosted their target price on Blueprint Medicines from $112.00 to $127.00 and gave the company an "outperform" rating in a research note on Friday, August 2nd. Baird R W raised shares of Blueprint Medicines to a "strong-buy" rating in a research report on Friday, August 2nd. Guggenheim raised their target price on shares of Blueprint Medicines from $130.00 to $138.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Finally, Needham & Company LLC reissued a "buy" rating and set a $130.00 price target on shares of Blueprint Medicines in a research report on Thursday, August 1st.

Blueprint Medicines Trading Up 1.0 %

Blueprint Medicines stock traded up $0.86 during mid-day trading on Tuesday, hitting $86.47. 731,773 shares of the company's stock were exchanged, compared to its average volume of 688,802. Blueprint Medicines has a fifty-two week low of $43.89 and a fifty-two week high of $121.90. The company has a quick ratio of 3.65, a current ratio of 3.71 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $5.41 billion, a P/E ratio of -17.97 and a beta of 0.58. The company's 50 day simple moving average is $90.32 and its 200-day simple moving average is $98.80.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.29) by $0.49. The business had revenue of $138.20 million during the quarter, compared to analysts' expectations of $104.02 million. Blueprint Medicines had a negative return on equity of 157.30% and a negative net margin of 56.64%. Blueprint Medicines's revenue for the quarter was up 139.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($2.19) EPS. On average, equities analysts anticipate that Blueprint Medicines will post -3.99 earnings per share for the current year.

Insider Activity

In other news, insider Philina Lee sold 41,913 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the transaction, the insider now directly owns 34,729 shares in the company, valued at approximately $3,236,395.51. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Philina Lee sold 41,913 shares of the company's stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the transaction, the insider now directly owns 34,729 shares of the company's stock, valued at $3,236,395.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Fouad Namouni sold 3,633 shares of Blueprint Medicines stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total transaction of $324,499.56. Following the completion of the sale, the insider now owns 69,070 shares of the company's stock, valued at $6,169,332.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.21% of the company's stock.

Hedge Funds Weigh In On Blueprint Medicines

Several institutional investors have recently made changes to their positions in BPMC. Price T Rowe Associates Inc. MD lifted its stake in shares of Blueprint Medicines by 15.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,250,823 shares of the biotechnology company's stock worth $592,954,000 after buying an additional 821,868 shares in the last quarter. Millennium Management LLC lifted its stake in Blueprint Medicines by 540.0% in the 2nd quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company's stock worth $67,646,000 after purchasing an additional 529,566 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in shares of Blueprint Medicines by 200,159.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 502,651 shares of the biotechnology company's stock worth $54,176,000 after purchasing an additional 502,400 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Blueprint Medicines by 79.3% in the second quarter. Point72 Asset Management L.P. now owns 501,581 shares of the biotechnology company's stock valued at $54,060,000 after purchasing an additional 221,813 shares during the last quarter. Finally, Clearbridge Investments LLC purchased a new position in Blueprint Medicines during the second quarter worth approximately $23,817,000.

About Blueprint Medicines

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.