Morgan Stanley Issues Positive Forecast for Blueprint Medicines (NASDAQ:BPMC) Stock Price

Blueprint Medicines (NASDAQ:BPMC - Free Report) had its price objective upped by Morgan Stanley from $102.00 to $129.00 in a research note published on Thursday,Benzinga reports. They currently have an equal weight rating on the biotechnology company's stock.

BPMC has been the subject of several other reports. 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 objective for the company. Needham & Company LLC cut shares of Blueprint Medicines from a "buy" rating to a "hold" rating and set a $130.00 price target for the company. in a report on Monday, June 2nd. UBS Group raised their price target on Blueprint Medicines from $88.00 to $129.00 and gave the company a "neutral" rating in a research report on Thursday. Citizens Jmp cut Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 3rd. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $129.00 target price (down previously from $130.00) on shares of Blueprint Medicines in a report on Monday, June 2nd. Seventeen equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Blueprint Medicines has an average rating of "Hold" and a consensus price target of $129.35.

Blueprint Medicines Stock Down 0.0%

Blueprint Medicines stock traded down $0.05 during mid-day trading on Thursday, hitting $127.85. 3,067,543 shares of the company's stock were exchanged, compared to its average volume of 1,113,701. Blueprint Medicines has a 1-year low of $73.04 and a 1-year high of $128.24. The stock has a 50 day moving average of $95.59 and a two-hundred day moving average of $95.88. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. The stock has a market cap of $8.26 billion, a P/E ratio of -118.38 and a beta of 0.84.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The biotechnology company reported ($0.74) EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $149.41 million for the quarter, compared to analyst estimates of $158.31 million. During the same period in the prior year, the company posted $1.40 EPS. The business's revenue was up 55.5% on a year-over-year basis. As a group, analysts anticipate that Blueprint Medicines will post -1.28 EPS for the current fiscal year.

Insider Activity

In related news, 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 sale, the chief operating officer now owns 69,266 shares of the company's stock, valued at $6,581,655.32. The trade was a 3.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ariel Hurley sold 2,752 shares of the stock in a transaction on 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 now owns 16,944 shares of the company's stock, 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. In the last three months, insiders have sold 14,574 shares of company stock worth $1,465,528. Corporate insiders own 4.21% of the company's stock.

Hedge Funds Weigh In On Blueprint Medicines

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

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.