Brokerages Set Blueprint Medicines Corporation (NASDAQ:BPMC) Target Price at $128.25

Shares of Blueprint Medicines Corporation (NASDAQ:BPMC - Get Free Report) have been assigned a consensus recommendation of "Hold" from the twenty-one research firms that are currently covering the company, MarketBeat.com reports. Seventeen investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $128.25.

A number of analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Blueprint Medicines to a "hold" rating in a report on Friday, July 18th. UBS Group lifted their target price on shares of Blueprint Medicines from $88.00 to $129.00 and gave the stock a "neutral" rating in a research note on Thursday, June 5th. HC Wainwright restated a "buy" rating and set a $135.00 price target on shares of Blueprint Medicines in a research report on Friday, May 2nd. Scotiabank cut Blueprint Medicines from a "strong-buy" rating to a "sector perform" rating and set a $135.00 target price for the company. in a research report on Monday, June 2nd. Finally, Guggenheim set a $132.00 target price on Blueprint Medicines in a research report on Tuesday, June 3rd.

Blueprint Medicines Stock Performance

BPMC remained flat at $129.46 during midday trading on Thursday. The company has a fifty day simple moving average of $122.99 and a 200 day simple moving average of $104.61. Blueprint Medicines has a 52-week low of $73.04 and a 52-week high of $129.65. The stock has a market cap of $8.36 billion, a PE ratio of -52.41 and a beta of 0.89. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 1.01.

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

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the company's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $100.51, for a total value of $228,559.74. Following the completion of the sale, the chief operating officer owned 64,718 shares in the company, valued at $6,504,806.18. This represents a 3.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 shares were sold at an average price of $101.14, for a total value of $505,700.00. Following the sale, the director directly owned 146,630 shares in the company, valued at approximately $14,830,158.20. This represents a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,351 shares of company stock valued at $1,384,244. Insiders own 4.21% of the company's stock.

Institutional Trading of Blueprint Medicines

Large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its position in shares of Blueprint Medicines by 53.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,957 shares of the biotechnology company's stock valued at $426,000 after purchasing an additional 1,735 shares during the last quarter. Cerity Partners LLC bought a new position in shares of Blueprint Medicines during the fourth quarter valued at approximately $291,000. SG Americas Securities LLC grew its stake in shares of Blueprint Medicines by 70.1% during the first quarter. SG Americas Securities LLC now owns 7,276 shares of the biotechnology company's stock valued at $644,000 after buying an additional 2,999 shares during the last quarter. Fifth Third Bancorp grew its position in Blueprint Medicines by 4.7% in the 1st quarter. Fifth Third Bancorp now owns 3,221 shares of the biotechnology company's stock valued at $285,000 after acquiring an additional 146 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Blueprint Medicines in the 1st quarter valued at $297,000.

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.