Blueprint Medicines (NASDAQ:BPMC) Price Target Raised to $75.00 at Barclays

Blueprint Medicines (NASDAQ:BPMC) had its price target hoisted by Barclays from $70.00 to $75.00 in a research report released on Friday, Benzinga reports. Barclays currently has an equal weight rating on the biotechnology company’s stock.

BPMC has been the topic of a number of other reports. Citigroup boosted their target price on Blueprint Medicines from $54.00 to $65.00 and gave the stock a sell rating in a report on Friday, February 16th. Needham & Company LLC restated a buy rating and set a $97.00 target price on shares of Blueprint Medicines in a research note on Thursday. HC Wainwright restated a buy rating and set a $125.00 price objective on shares of Blueprint Medicines in a report on Friday, April 26th. Wedbush restated an outperform rating and issued a $110.00 price target on shares of Blueprint Medicines in a research note on Friday, April 26th. Finally, Piper Sandler lifted their target price on Blueprint Medicines from $78.00 to $104.00 and gave the stock a neutral rating in a report on Friday. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Blueprint Medicines currently has a consensus rating of Hold and an average price target of $94.87.

Blueprint Medicines Trading Up 0.2 %

Shares of Blueprint Medicines stock traded up $0.19 during trading hours on Friday, reaching $107.19. 1,004,153 shares of the company’s stock were exchanged, compared to its average volume of 698,730. Blueprint Medicines has a fifty-two week low of $43.89 and a fifty-two week high of $110.93. The company has a current ratio of 3.76, a quick ratio of 3.66 and a debt-to-equity ratio of 1.60. The company has a 50 day moving average of $91.77 and a two-hundred day moving average of $80.52.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.04) by $0.22. The business had revenue of $71.96 million for the quarter, compared to the consensus estimate of $67.34 million. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 215.07%. The firm’s revenue for the quarter was up 85.5% on a year-over-year basis. During the same period in the previous year, the company earned ($2.65) earnings per share. On average, research analysts expect that Blueprint Medicines will post -5.41 EPS for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, insider Christopher K. Murray sold 5,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $100.00, for a total value of $500,000.00. Following the completion of the transaction, the insider now owns 24,495 shares of the company’s stock, valued at approximately $2,449,500. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Jeffrey W. Albers sold 25,073 shares of Blueprint Medicines stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $87.28, for a total transaction of $2,188,371.44. Following the transaction, the director now owns 176,050 shares in the company, valued at $15,365,644. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Christopher K. Murray sold 5,000 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $100.00, for a total value of $500,000.00. Following the completion of the sale, the insider now owns 24,495 shares of the company’s stock, valued at $2,449,500. The disclosure for this sale can be found here. Insiders have sold a total of 92,289 shares of company stock worth $8,314,163 over the last 90 days. Insiders own 3.88% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Readystate Asset Management LP bought a new stake in Blueprint Medicines during the fourth quarter valued at $3,692,000. American Century Companies Inc. increased its holdings in Blueprint Medicines by 5.2% in the third quarter. American Century Companies Inc. now owns 670,972 shares of the biotechnology company’s stock worth $33,696,000 after purchasing an additional 33,243 shares in the last quarter. Diversified Trust Co lifted its stake in Blueprint Medicines by 2.9% in the third quarter. Diversified Trust Co now owns 11,219 shares of the biotechnology company’s stock valued at $563,000 after buying an additional 318 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Blueprint Medicines by 95.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,550 shares of the biotechnology company’s stock worth $78,000 after buying an additional 757 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its position in shares of Blueprint Medicines by 17.4% during the 3rd quarter. Rafferty Asset Management LLC now owns 166,690 shares of the biotechnology company’s stock worth $8,371,000 after buying 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.