Analysts Set Blueprint Medicines Co. (NASDAQ:BPMC) Target Price at $126.56

Shares of Blueprint Medicines Co. (NASDAQ:BPMC - Get Free Report) have received an average recommendation of "Moderate Buy" from the eighteen research firms that are covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $126.56.

A number of research firms have recently weighed in on BPMC. StockNews.com upgraded Blueprint Medicines from a "sell" rating to a "hold" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. increased their price target on Blueprint Medicines from $126.00 to $129.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Morgan Stanley started coverage on Blueprint Medicines in a research report on Thursday, March 20th. They issued an "equal weight" rating and a $100.00 price objective on the stock. Wolfe Research started coverage on Blueprint Medicines in a research report on Tuesday, March 18th. They issued an "outperform" rating on the stock. Finally, Jefferies Financial Group started coverage on Blueprint Medicines in a research report on Monday, March 17th. They issued a "buy" rating and a $135.00 price objective on the stock.

Insider Buying and Selling at Blueprint Medicines

In related news, insider Ariel Hurley sold 2,752 shares of Blueprint Medicines stock in a transaction on Monday, May 5th. The stock was sold at an average price of $103.13, for a total transaction of $283,813.76. Following the completion of the sale, the insider now owns 16,944 shares of the company's stock, valued at approximately $1,747,434.72. This trade represents a 13.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction on Monday, March 24th. The shares were sold at an average price of $95.02, for a total value of $216,075.48. Following the sale, the chief operating officer now directly owns 69,266 shares of the company's stock, valued at $6,581,655.32. This represents a 3.18% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,503 shares of company stock valued at $1,027,931. Company insiders own 4.21% of the company's stock.

Institutional Investors Weigh In On Blueprint Medicines

Several large investors have recently added to or reduced their stakes in BPMC. R Squared Ltd bought a new stake in Blueprint Medicines during the fourth quarter valued at $51,000. Headlands Technologies LLC bought a new stake in Blueprint Medicines during the fourth quarter valued at $65,000. Thematics Asset Management bought a new stake in Blueprint Medicines during the fourth quarter valued at $72,000. Covestor Ltd boosted its stake in Blueprint Medicines by 62.7% during the fourth quarter. Covestor Ltd now owns 973 shares of the biotechnology company's stock valued at $85,000 after buying an additional 375 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Blueprint Medicines during the first quarter valued at about $87,000.

Blueprint Medicines Trading Up 1.9%

Shares of Blueprint Medicines stock traded up $1.87 on Friday, hitting $99.38. 88,039 shares of the company's stock traded hands, compared to its average volume of 778,019. Blueprint Medicines has a one year low of $73.04 and a one 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 company has a fifty day moving average of $89.12 and a two-hundred day moving average of $94.07. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of -91.76 and a beta of 0.83.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.32). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. The firm had revenue of $149.41 million for the quarter, compared to analyst estimates of $158.31 million. During the same period last year, the company posted $1.40 earnings per share. The firm's quarterly revenue was up 55.5% compared to the same quarter last year. As a group, sell-side analysts expect that Blueprint Medicines will post -1.28 earnings per share for the current year.

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.