UBS Group Increases Blueprint Medicines (NASDAQ:BPMC) Price Target to $129.00

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) had its price objective hoisted by stock analysts at UBS Group from $88.00 to $129.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the biotechnology company's stock. UBS Group's price objective suggests a potential upside of 0.90% from the company's current price.

Several other equities research analysts also recently commented on BPMC. Stephens downgraded shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating and lowered their price objective for the stock from $150.00 to $135.00 in a research note on Tuesday, June 3rd. HC Wainwright reaffirmed a "buy" rating and set a $135.00 target price on shares of Blueprint Medicines in a report on Friday, May 2nd. Needham & Company LLC lowered shares of Blueprint Medicines from a "buy" rating to a "hold" rating and set a $130.00 target price for the company. in a report on Monday, June 2nd. Guggenheim lowered shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 3rd. Finally, JMP Securities restated a "market perform" rating on shares of Blueprint Medicines in a research report on Tuesday, June 3rd. Seventeen 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 company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $129.35.

Blueprint Medicines Price Performance

Shares of NASDAQ BPMC traded down $0.05 during midday trading on Thursday, reaching $127.85. The stock had a trading volume of 3,067,543 shares, compared to its average volume of 1,113,701. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85. The stock has a 50-day moving average of $95.59 and a 200-day moving average of $95.88. Blueprint Medicines has a 12-month low of $73.04 and a 12-month high of $128.24. The company has a market capitalization of $8.26 billion, a price-to-earnings ratio of -118.38 and a beta of 0.84.

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

Insider Buying and Selling at Blueprint Medicines

In related news, COO Christina Rossi sold 2,274 shares of the company's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $101.75, for a total transaction of $231,379.50. Following the sale, the chief operating officer now directly owns 66,992 shares in the company, valued at approximately $6,816,436. This represents a 3.28% 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, insider Ariel Hurley sold 2,752 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $103.13, for a total transaction of $283,813.76. Following the completion of the transaction, the insider now owns 16,944 shares in the company, valued at $1,747,434.72. This represents a 13.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,574 shares of company stock valued at $1,465,528 over the last 90 days. 4.21% of the stock is owned by insiders.

Hedge Funds Weigh In On Blueprint Medicines

Several hedge funds have recently added to or reduced their stakes in the stock. Stephens Inc. AR acquired a new stake in shares of Blueprint Medicines in the fourth quarter valued at approximately $321,000. Values First Advisors Inc. lifted its holdings in shares of Blueprint Medicines by 277.9% during the fourth quarter. Values First Advisors Inc. now owns 4,970 shares of the biotechnology company's stock worth $433,000 after purchasing an additional 3,655 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Blueprint Medicines by 48.2% during the fourth quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company's stock worth $97,000 after purchasing an additional 363 shares during the period. Asset Management One Co. Ltd. acquired a new stake in shares of Blueprint Medicines during the fourth quarter worth $88,000. Finally, State of New Jersey Common Pension Fund D lifted its holdings in shares of Blueprint Medicines by 12.2% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 25,626 shares of the biotechnology company's stock worth $2,235,000 after purchasing an additional 2,780 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.