Blueprint Medicines (NASDAQ:BPMC) Given New $130.00 Price Target at Stifel Nicolaus

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) had its price objective lifted by equities research analysts at Stifel Nicolaus from $120.00 to $130.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the biotechnology company's stock. Stifel Nicolaus' price objective suggests a potential upside of 39.78% from the company's current price.

BPMC has been the subject of several other research reports. Wedbush reissued an "outperform" rating and set a $110.00 target price on shares of Blueprint Medicines in a research note on Friday. Citigroup lifted their target price on Blueprint Medicines from $54.00 to $65.00 and gave the company a "sell" rating in a report on Friday, February 16th. Needham & Company LLC reiterated a "buy" rating and issued a $97.00 target price on shares of Blueprint Medicines in a report on Friday. Barclays lifted their price target on Blueprint Medicines from $58.00 to $70.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 13th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $114.00 price target on shares of Blueprint Medicines in a report on Wednesday, April 10th. Four analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Blueprint Medicines currently has a consensus rating of "Hold" and an average price target of $91.57.

Blueprint Medicines Price Performance

Shares of NASDAQ:BPMC traded up $2.27 during midday trading on Friday, hitting $93.00. The company had a trading volume of 725,952 shares, compared to its average volume of 763,933. Blueprint Medicines has a twelve month low of $43.89 and a twelve month high of $101.00. The company has a debt-to-equity ratio of 1.60, a current ratio of 3.76 and a quick ratio of 3.66. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of -11.11 and a beta of 0.63. The business's 50-day simple moving average is $90.73 and its 200-day simple moving average is $78.51.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) EPS for the quarter, beating the consensus estimate of ($2.04) by $0.22. The firm had revenue of $71.96 million during the quarter, compared to analysts' expectations of $67.34 million. Blueprint Medicines had a negative return on equity of 191.56% and a negative net margin of 203.30%. The business's revenue for the quarter was up 85.5% on a year-over-year basis. During the same quarter last year, the firm earned ($2.65) earnings per share. On average, research analysts predict that Blueprint Medicines will post -5.41 earnings per share for the current year.

Insider Transactions at Blueprint Medicines

In other news, CFO Michael Landsittel sold 5,000 shares of Blueprint Medicines stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $95.00, for a total transaction of $475,000.00. Following the sale, the chief financial officer now owns 47,286 shares in the company, valued at $4,492,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Blueprint Medicines news, CFO Michael Landsittel sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $95.00, for a total transaction of $475,000.00. Following the completion of the sale, the chief financial officer now directly owns 47,286 shares of the company's stock, valued at approximately $4,492,170. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey W. Albers sold 11,033 shares of the company's stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $90.69, for a total value of $1,000,582.77. Following the sale, the director now directly owns 165,017 shares of the company's stock, valued at $14,965,391.73. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,289 shares of company stock worth $8,314,163. Corporate insiders own 3.88% of the company's stock.

Institutional Trading of Blueprint Medicines

Several institutional investors and hedge funds have recently added to or reduced their stakes in BPMC. Readystate Asset Management LP acquired a new position in Blueprint Medicines during the 4th quarter worth approximately $3,692,000. American Century Companies Inc. grew its holdings in shares of Blueprint Medicines by 5.2% in the 3rd quarter. American Century Companies Inc. now owns 670,972 shares of the biotechnology company's stock worth $33,696,000 after acquiring an additional 33,243 shares during the period. Diversified Trust Co grew its holdings in shares of Blueprint Medicines by 2.9% in the 3rd quarter. Diversified Trust Co now owns 11,219 shares of the biotechnology company's stock worth $563,000 after acquiring an additional 318 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in shares of Blueprint Medicines by 95.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,550 shares of the biotechnology company's stock worth $78,000 after acquiring an additional 757 shares during the period. Finally, Rafferty Asset Management LLC grew its holdings in shares of Blueprint Medicines by 17.4% in the 3rd quarter. Rafferty Asset Management LLC now owns 166,690 shares of the biotechnology company's stock worth $8,371,000 after acquiring an additional 24,693 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.