Blueprint Medicines - BPMC Stock Forecast, Price & News

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 non-advanced SM and other mast cell disorders; and Fisogatinib, an orally available and potent inhibitor for the treatment of hepatocellular carcinoma. It is also developing GAVRETO for the treatment of RET fusion-positive non-small cell lung cancer, altered solid tumors, medullary thyroid carcinoma, and other solid tumors; BLU-701 and BLU-945 for the treatment of epidermal growth factor receptor driven non-small-cell lung carcinoma (NSCLC); and BLU-451 to treat NSCLC in patients with epidermal growth factor receptor gene (EGFR) exon 20 insertion mutations. In addition, the company is developing BLU-782, for the treatment of fibrodysplasia ossificans progressive; BLU- 222 to treat patients with cyclin E aberrant cancers; and BLU-852 for the treatment of advanced cancers. It has collaboration and license agreements with Clementia Pharmaceuticals, Inc.; Proteovant Therapeutics; CStone Pharmaceuticals; Genentech, Inc.; F. Hoffmann-La Roche Ltd and Hoffmann-La Roche Inc.; and Zai Lab (Shanghai) Co., Ltd. The company was formerly known as Hoyle Pharmaceuticals, Inc. and changed its name to Blueprint Medicines Corporation in June 2011. Blueprint Medicines Corporation was incorporated in 2008 and is headquartered in Cambridge, Massachusetts.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BPMC. Raymond James lowered their price target on shares of Blueprint Medicines from $133.00 to $115.00 and set a "strong-buy" rating on the stock in a report on Wednesday. Jefferies Financial Group raised shares of Blueprint Medicines from a "hold" rating to a "buy" rating and lowered their price target for the stock from $88.00 to $78.00 in a report on Wednesday, June 1st. The Goldman Sachs Group increased their price target on shares of Blueprint Medicines from $126.00 to $143.00 and gave the stock a "buy" rating in a report on Wednesday. Robert W. Baird decreased their price objective on shares of Blueprint Medicines from $123.00 to $96.00 in a report on Wednesday, May 4th. Finally, Wells Fargo & Company initiated coverage on shares of Blueprint Medicines in a report on Monday, June 27th. They set an "underweight" rating and a $40.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Blueprint Medicines currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.47.

Blueprint Medicines Stock Performance

Shares of NASDAQ:BPMC traded up $3.42 during midday trading on Friday, hitting $68.14. The company's stock had a trading volume of 1,233,977 shares, compared to its average volume of 668,932. The business's 50 day simple moving average is $54.16 and its 200 day simple moving average is $61.22. The company has a market cap of $4.06 billion, a P/E ratio of -5.74 and a beta of 0.94. Blueprint Medicines has a 12-month low of $43.46 and a 12-month high of $117.86.

Blueprint Medicines (NASDAQ:BPMC - Get Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The biotechnology company reported ($2.68) earnings per share for the quarter, missing the consensus estimate of ($2.23) by ($0.45). Blueprint Medicines had a negative return on equity of 45.89% and a negative net margin of 304.41%. The business had revenue of $36.55 million during the quarter, compared to analysts' expectations of $37.61 million. During the same period in the prior year, the business posted ($1.86) earnings per share. The business's quarterly revenue was up 33.9% on a year-over-year basis. On average, sell-side analysts predict that Blueprint Medicines will post -9.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Percy H. Carter sold 1,908 shares of the firm's stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $59.76, for a total transaction of $114,022.08. Following the completion of the sale, the insider now directly owns 28,685 shares in the company, valued at $1,714,215.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.34% of the stock is owned by company insiders.