Blueprint Medicines Corporation (NASDAQ:BPMC) Receives $128.25 Consensus Target Price from Analysts

Blueprint Medicines Corporation (NASDAQ:BPMC - Get Free Report) has received an average recommendation of "Hold" from the twenty-one research firms that are presently covering the stock, MarketBeat Ratings reports. Seventeen equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $128.25.

BPMC has been the subject of a number of recent research reports. TD Cowen lowered Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 3rd. UBS Group boosted their target price on Blueprint Medicines from $88.00 to $129.00 and gave the company a "neutral" rating in a research note on Thursday, June 5th. Wells Fargo & Company downgraded Blueprint Medicines from a "strong-buy" rating to a "hold" rating and reduced their price target for the company from $143.00 to $129.00 in a report on Tuesday, June 17th. Wedbush downgraded Blueprint Medicines from an "outperform" rating to a "neutral" rating and boosted their price target for the company from $128.00 to $129.00 in a report on Monday, June 2nd. Finally, Cowen downgraded Blueprint Medicines to a "hold" rating in a report on Monday, June 2nd.

Blueprint Medicines Price Performance

NASDAQ:BPMC remained flat at $129.46 during trading hours on Thursday. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.80 and a quick ratio of 2.75. The firm has a 50 day moving average of $122.43 and a two-hundred day moving average of $104.28. Blueprint Medicines has a 1-year low of $73.04 and a 1-year high of $129.65. The firm has a market cap of $8.36 billion, a P/E ratio of -52.41 and a beta of 0.89.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $149.41 million for the quarter, compared to the consensus estimate of $158.31 million. During the same period last year, the firm earned $1.40 EPS. The company's revenue for the quarter was up 55.5% on a year-over-year basis. On average, equities analysts predict that Blueprint Medicines will post -1.28 EPS for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, insider Ariel Hurley sold 2,752 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $103.13, for a total value of $283,813.76. Following the transaction, the insider directly owned 16,944 shares of the company's stock, valued at $1,747,434.72. This trade represents a 13.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Christina Rossi sold 2,274 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $100.51, for a total transaction of $228,559.74. Following the completion of the transaction, the chief operating officer directly owned 64,718 shares in the company, valued at $6,504,806.18. This trade represents a 3.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,351 shares of company stock valued at $1,384,244. Company insiders own 4.21% of the company's stock.

Institutional Trading of Blueprint Medicines

A number of hedge funds and other institutional investors have recently made changes to their positions in BPMC. Avoro Capital Advisors LLC purchased a new position in shares of Blueprint Medicines during the 4th quarter worth approximately $103,356,000. Syquant Capital Sas purchased a new position in shares of Blueprint Medicines during the 2nd quarter worth approximately $103,262,000. Siren L.L.C. purchased a new position in shares of Blueprint Medicines during the 1st quarter worth approximately $64,273,000. Norges Bank purchased a new position in shares of Blueprint Medicines during the 4th quarter worth approximately $62,028,000. Finally, T. Rowe Price Investment Management Inc. boosted its position in shares of Blueprint Medicines by 86.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,302,810 shares of the biotechnology company's stock worth $115,312,000 after purchasing an additional 605,783 shares during the period.

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.