Blueprint Medicines Corporation (NASDAQ:BPMC) Receives $128.06 Average Target Price from Brokerages

Blueprint Medicines Corporation (NASDAQ:BPMC - Get Free Report) has received a consensus rating of "Hold" from the twenty-two research firms that are currently covering the stock, Marketbeat.com reports. Seventeen research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $128.06.

A number of analysts recently weighed in on the stock. Citigroup raised shares of Blueprint Medicines from a "strong sell" rating to a "hold" rating and upped their target price for the stock from $83.00 to $129.00 in a report on Wednesday, June 4th. Citizens Jmp lowered shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 3rd. Scotiabank cut shares of Blueprint Medicines from a "strong-buy" rating to a "sector perform" rating and set a $135.00 target price on the stock. in a report on Monday, June 2nd. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $129.00 price target (down previously from $130.00) on shares of Blueprint Medicines in a research report on Monday, June 2nd. Finally, Jefferies Financial Group began coverage on shares of Blueprint Medicines in a research report on Monday, March 17th. They set a "buy" rating and a $135.00 price target on the stock.

Blueprint Medicines Stock Down 0.1%

NASDAQ:BPMC traded down $0.11 on Friday, hitting $128.24. The stock had a trading volume of 1,565,693 shares, compared to its average volume of 1,313,675. Blueprint Medicines has a 1 year low of $73.04 and a 1 year high of $129.54. The firm's fifty day simple moving average is $111.05 and its two-hundred day simple moving average is $99.78. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.75 and a current ratio of 2.80. The stock has a market cap of $8.28 billion, a P/E ratio of -51.92 and a beta of 0.89.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.32). Blueprint Medicines had a negative return on equity of 64.60% and a negative net margin of 27.70%. The company had revenue of $149.41 million for the quarter, compared to analysts' expectations of $158.31 million. During the same quarter last year, the business posted $1.40 EPS. The business's quarterly revenue was up 55.5% on a year-over-year basis. Analysts predict that Blueprint Medicines will post -1.28 earnings per share for the current year.

Insider Activity

In related news, insider Ariel Hurley sold 2,752 shares of Blueprint Medicines stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $103.13, for a total value of $283,813.76. Following the transaction, the insider owned 16,944 shares of the company's stock, valued at approximately $1,747,434.72. This trade represents a 13.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey W. Albers sold 5,000 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $101.14, for a total transaction of $505,700.00. Following the completion of the transaction, the director owned 146,630 shares of the company's stock, valued at approximately $14,830,158.20. The trade was a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,300 shares of company stock worth $1,249,453. Corporate insiders own 4.21% of the company's stock.

Institutional Investors Weigh In On Blueprint Medicines

Several hedge funds have recently made changes to their positions in the company. Cerity Partners LLC acquired a new stake in Blueprint Medicines during the 4th quarter valued at $291,000. SG Americas Securities LLC lifted its stake in Blueprint Medicines by 70.1% in the 1st quarter. SG Americas Securities LLC now owns 7,276 shares of the biotechnology company's stock worth $644,000 after acquiring an additional 2,999 shares in the last quarter. Fifth Third Bancorp boosted its position in Blueprint Medicines by 4.7% during the 1st quarter. Fifth Third Bancorp now owns 3,221 shares of the biotechnology company's stock worth $285,000 after acquiring an additional 146 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Blueprint Medicines by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 303,432 shares of the biotechnology company's stock worth $26,465,000 after purchasing an additional 7,101 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Blueprint Medicines during the fourth quarter valued at approximately $21,104,000.

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.