UBS Group Forecasts Strong Price Appreciation for Blueprint Medicines (NASDAQ:BPMC) Stock

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) had its price target upped by research analysts at UBS Group from $88.00 to $129.00 in a report released on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the biotechnology company's stock. UBS Group's price objective points to a potential upside of 0.86% from the company's previous close.

Other research analysts have also recently issued reports about the stock. Jefferies Financial Group began coverage on shares of Blueprint Medicines in a report on Monday, March 17th. They set a "buy" rating and a $135.00 price target for the company. Needham & Company LLC downgraded Blueprint Medicines from a "moderate buy" rating to a "hold" rating and set a $130.00 target price for the company. in a research note on Monday. HC Wainwright restated a "buy" rating and issued a $135.00 price target on shares of Blueprint Medicines in a research note on Friday, May 2nd. Citizens Jmp cut Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $129.00 price objective (down previously from $130.00) on shares of Blueprint Medicines in a research report on Monday. Sixteen equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $129.71.

Blueprint Medicines Stock Performance

Shares of NASDAQ:BPMC traded down $0.20 during trading on Thursday, reaching $127.90. The company had a trading volume of 4,442,001 shares, compared to its average volume of 1,099,582. Blueprint Medicines has a fifty-two week low of $73.04 and a fifty-two week high of $128.36. 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 stock's fifty day moving average price is $94.75 and its 200 day moving average price is $95.65. The firm has a market capitalization of $8.26 billion, a price-to-earnings ratio of -118.42 and a beta of 0.83.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $149.41 million during the quarter, compared to analyst estimates of $158.31 million. Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. The business's quarterly revenue was up 55.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.40 earnings per share. As a group, equities research analysts predict that Blueprint Medicines will post -1.28 EPS for the current year.

Insiders Place Their Bets

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 5,000 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $101.14, for a total transaction of $505,700.00. Following the sale, the director now owns 146,630 shares in the company, valued at approximately $14,830,158.20. This represents a 3.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Christina Rossi sold 2,274 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $95.02, for a total value of $216,075.48. Following the completion of the transaction, the chief operating officer now directly owns 69,266 shares of the company's stock, valued at approximately $6,581,655.32. This trade represents a 3.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,574 shares of company stock worth $1,465,528. Insiders own 4.21% of the company's stock.

Institutional Trading of Blueprint Medicines

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Cerity Partners LLC acquired a new position in Blueprint Medicines in the 4th quarter valued at about $291,000. Stephens Inc. AR purchased a new stake in shares of Blueprint Medicines during the fourth quarter worth about $321,000. Bank of New York Mellon Corp raised its position in shares of Blueprint Medicines by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 303,432 shares of the biotechnology company's stock valued at $26,465,000 after buying an additional 7,101 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Blueprint Medicines in the fourth quarter valued at approximately $21,104,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Blueprint Medicines by 31.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,650 shares of the biotechnology company's stock valued at $144,000 after buying an additional 399 shares during the period.

Blueprint Medicines Company Profile

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.