Blueprint Medicines (NASDAQ:BPMC) Price Target Raised to $85.00

Blueprint Medicines (NASDAQ:BPMC – Get Rating) had its target price hoisted by HC Wainwright from $75.00 to $85.00 in a report released on Tuesday morning, The Fly reports. HC Wainwright also issued estimates for Blueprint Medicines’ Q2 2023 earnings at ($2.31) EPS, Q3 2023 earnings at ($2.23) EPS, Q4 2023 earnings at ($2.13) EPS, FY2023 earnings at ($8.80) EPS, FY2024 earnings at ($5.06) EPS, FY2025 earnings at ($3.17) EPS, FY2026 earnings at ($1.28) EPS and FY2027 earnings at $1.25 EPS.

BPMC has been the subject of several other research reports. JMP Securities reiterated a market outperform rating and issued a $114.00 price objective on shares of Blueprint Medicines in a research note on Thursday, March 30th. VNET Group restated a maintains rating on shares of Blueprint Medicines in a research report on Friday, May 5th. Needham & Company LLC reaffirmed a buy rating and set a $57.00 price objective on shares of Blueprint Medicines in a research note on Wednesday, April 19th. Morgan Stanley decreased their price target on Blueprint Medicines from $75.00 to $50.00 and set an equal weight rating on the stock in a research note on Friday, January 27th. Finally, SVB Leerink cut their price objective on Blueprint Medicines from $45.00 to $38.00 and set a market perform rating on the stock in a report on Friday, February 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $72.84.

Blueprint Medicines Price Performance

Shares of NASDAQ BPMC opened at $54.28 on Tuesday. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of -5.59 and a beta of 0.72. Blueprint Medicines has a 12 month low of $37.82 and a 12 month high of $79.40. The firm’s 50 day simple moving average is $49.07 and its 200-day simple moving average is $46.43. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.21 and a quick ratio of 5.11.

Blueprint Medicines (NASDAQ:BPMC – Get Rating) last announced its quarterly earnings data on Thursday, May 4th. The biotechnology company reported ($2.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.66) by $0.51. Blueprint Medicines had a negative return on equity of 100.31% and a negative net margin of 284.02%. The company had revenue of $63.29 million for the quarter, compared to analyst estimates of $41.85 million. During the same quarter last year, the firm posted ($1.79) EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Analysts expect that Blueprint Medicines will post -9.59 EPS for the current year.

Insiders Place Their Bets

In other news, COO Christina Rossi sold 3,059 shares of the business’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $45.67, for a total value of $139,704.53. Following the sale, the chief operating officer now owns 55,376 shares of the company’s stock, valued at approximately $2,529,021.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Christina Rossi sold 3,059 shares of the business’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $45.67, for a total transaction of $139,704.53. Following the sale, the chief operating officer now directly owns 55,376 shares of the company’s stock, valued at $2,529,021.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey W. Albers sold 9,793 shares of the business’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $45.67, for a total value of $447,246.31. Following the sale, the director now directly owns 173,450 shares in the company, valued at $7,921,461.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,696 shares of company stock worth $1,265,091. 3.42% of the stock is owned by company insiders.

Institutional Trading of Blueprint Medicines

Several large investors have recently made changes to their positions in the stock. Rhumbline Advisers lifted its position in shares of Blueprint Medicines by 0.3% during the 1st quarter. Rhumbline Advisers now owns 81,233 shares of the biotechnology company’s stock worth $3,655,000 after purchasing an additional 226 shares during the last quarter. Corton Capital Inc. raised its holdings in shares of Blueprint Medicines by 5.4% in the 1st quarter. Corton Capital Inc. now owns 4,898 shares of the biotechnology company’s stock worth $220,000 after buying an additional 252 shares in the last quarter. E Fund Management Co. Ltd. grew its position in Blueprint Medicines by 3.0% during the 1st quarter. E Fund Management Co. Ltd. now owns 9,195 shares of the biotechnology company’s stock worth $414,000 after acquiring an additional 267 shares during the last quarter. Strs Ohio grew its position in Blueprint Medicines by 15.8% during the 1st quarter. Strs Ohio now owns 2,200 shares of the biotechnology company’s stock worth $98,000 after acquiring an additional 300 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in Blueprint Medicines by 51.2% in the 4th quarter. Van ECK Associates Corp now owns 986 shares of the biotechnology company’s stock valued at $43,000 after buying an additional 334 shares during the last quarter.

Blueprint Medicines Company Profile

(Get Rating)

Blueprint Medicines Corp. is a precision therapy company, which engages in the invention of medicines for people with cancer and blood disorders. The company was founded by Chris Varma, Nicholas B. Lydon, Brian Druker, and Alexis Borisy on October 14, 2008 and is headquartered in Cambridge, MA.