Brokerages Set Blueprint Medicines Corp (BPMC) Price Target at $83.78

Blueprint Medicines Corp (NASDAQ:BPMC) has been assigned an average rating of “Buy” from the fourteen analysts that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating and eleven have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $83.78.

Several equities analysts recently weighed in on BPMC shares. BidaskClub lowered shares of Blueprint Medicines from a “strong-buy” rating to a “buy” rating in a report on Thursday. Zacks Investment Research upgraded shares of Blueprint Medicines from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a report on Monday, January 8th. Goldman Sachs increased their price objective on shares of Blueprint Medicines from $82.00 to $99.00 and gave the company a “buy” rating in a report on Monday, December 11th. Raymond James Financial set a $82.00 price objective on shares of Blueprint Medicines and gave the company a “buy” rating in a report on Sunday, December 10th. Finally, Cowen restated a “buy” rating on shares of Blueprint Medicines in a report on Wednesday, February 21st.

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Shares of NASDAQ:BPMC traded up $4.74 during mid-day trading on Wednesday, hitting $91.70. 303,608 shares of the company traded hands, compared to its average volume of 371,702. Blueprint Medicines has a one year low of $34.38 and a one year high of $109.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 15.98 and a quick ratio of 15.98.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Wednesday, February 21st. The biotechnology company reported ($1.23) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.07) by ($0.16). Blueprint Medicines had a negative net margin of 691.30% and a negative return on equity of 38.79%. The company had revenue of $1.63 million for the quarter, compared to the consensus estimate of $5.28 million. During the same period last year, the company earned ($0.75) earnings per share. Blueprint Medicines’s revenue for the quarter was down 78.8% compared to the same quarter last year. equities analysts anticipate that Blueprint Medicines will post -4.85 EPS for the current fiscal year.

In other Blueprint Medicines news, Director George Demetri sold 5,492 shares of the stock in a transaction on Monday, March 19th. The shares were sold at an average price of $100.09, for a total value of $549,694.28. Following the sale, the director now directly owns 10,231 shares in the company, valued at $1,024,020.79. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jeffrey W. Albers sold 20,000 shares of the stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $92.57, for a total transaction of $1,851,400.00. Following the completion of the sale, the chief executive officer now owns 20,000 shares in the company, valued at $1,851,400. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,567 shares of company stock worth $7,651,106. Company insiders own 3.40% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Xact Kapitalforvaltning AB acquired a new stake in Blueprint Medicines in the fourth quarter worth $290,000. Alkeon Capital Management LLC acquired a new stake in Blueprint Medicines in the fourth quarter worth $754,000. Dumont & Blake Investment Advisors LLC acquired a new stake in Blueprint Medicines in the fourth quarter worth $302,000. MetLife Investment Advisors LLC acquired a new stake in Blueprint Medicines in the fourth quarter worth $1,461,000. Finally, Kazazian Asset Management LLC raised its holdings in Blueprint Medicines by 15.8% in the fourth quarter. Kazazian Asset Management LLC now owns 28,646 shares of the biotechnology company’s stock worth $2,160,000 after purchasing an additional 3,911 shares during the period. Institutional investors own 97.79% of the company’s stock.

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About Blueprint Medicines

Blueprint Medicines Corporation is a biopharmaceutical company. The Company focuses on patients with genomically defined diseases driven by abnormal kinase activation. It focuses on crafting drug candidates that provide clinical responses to patients without adequate treatment options. It has developed a small molecule drug pipeline in cancer and a genetic disease.

Analyst Recommendations for Blueprint Medicines (NASDAQ:BPMC)

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