Blueprint Medicines (NASDAQ:BPMC) Given New $75.00 Price Target at Barclays

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

A number of other analysts also recently issued reports on the company. Piper Sandler lifted their price objective on Blueprint Medicines from $78.00 to $104.00 and gave the stock a neutral rating in a research note on Friday. Citigroup upped their price target on shares of Blueprint Medicines from $54.00 to $65.00 and gave the company a sell rating in a research note on Friday, February 16th. HC Wainwright restated a buy rating and issued a $125.00 target price on shares of Blueprint Medicines in a report on Friday, April 26th. Stifel Nicolaus increased their price target on shares of Blueprint Medicines from $120.00 to $130.00 and gave the company a buy rating in a report on Friday, April 26th. Finally, JMP Securities reiterated a market outperform rating and issued a $114.00 price target on shares of Blueprint Medicines in a research report on Wednesday, April 10th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Blueprint Medicines currently has a consensus rating of Hold and an average target price of $94.87.

Blueprint Medicines Stock Performance

Shares of NASDAQ BPMC traded up $0.19 during mid-day trading on Friday, reaching $107.19. The company’s stock had a trading volume of 1,004,153 shares, compared to its average volume of 698,730. The company has a debt-to-equity ratio of 1.60, a quick ratio of 3.66 and a current ratio of 3.76. Blueprint Medicines has a 52 week low of $43.89 and a 52 week high of $110.93. The stock has a fifty day moving average of $91.77 and a two-hundred day moving average of $80.52.

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

Insider Activity at Blueprint Medicines

In other news, COO Christina Rossi sold 6,070 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $90.69, for a total transaction of $550,488.30. Following the transaction, the chief operating officer now owns 64,306 shares of the company’s stock, valued at approximately $5,831,911.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Blueprint Medicines news, EVP Tracey L. Mccain sold 5,194 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $90.69, for a total value of $471,043.86. Following the completion of the transaction, the executive vice president now directly owns 60,498 shares in the company, valued at $5,486,563.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Christina Rossi sold 6,070 shares of Blueprint Medicines stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $90.69, for a total transaction of $550,488.30. Following the completion of the transaction, the chief operating officer now directly owns 64,306 shares in the company, valued at $5,831,911.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,289 shares of company stock worth $8,314,163. Company insiders own 3.88% of the company’s stock.

Institutional Trading of Blueprint Medicines

A number of institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its stake in Blueprint Medicines by 0.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,414 shares of the biotechnology company’s stock valued at $3,451,000 after purchasing an additional 145 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Blueprint Medicines by 28.4% in the 4th quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock valued at $80,000 after acquiring an additional 193 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Blueprint Medicines by 1.7% in the fourth quarter. Principal Financial Group Inc. now owns 14,510 shares of the biotechnology company’s stock valued at $1,338,000 after purchasing an additional 247 shares during the period. Diversified Trust Co increased its holdings in shares of 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 purchasing an additional 318 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in Blueprint Medicines by 63.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock worth $43,000 after buying an additional 329 shares during the last quarter.

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.