Stifel Nicolaus Raises Blueprint Medicines (NASDAQ:BPMC) Price Target to $130.00

Blueprint Medicines (NASDAQ:BPMC) had its price objective increased by Stifel Nicolaus from $120.00 to $130.00 in a research report released on Friday, Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Other equities research analysts have also recently issued reports about the company. HC Wainwright restated a buy rating and set a $125.00 target price on shares of Blueprint Medicines in a report on Friday. Wedbush reiterated an outperform rating and set a $110.00 price target on shares of Blueprint Medicines in a research report on Friday. Barclays raised their target price on Blueprint Medicines from $58.00 to $70.00 and gave the company an equal weight rating in a research note on Tuesday, February 13th. JMP Securities reissued a market outperform rating and set a $114.00 price target on shares of Blueprint Medicines in a research report on Wednesday, April 10th. Finally, Needham & Company LLC reissued a buy rating and set a $97.00 price objective on shares of Blueprint Medicines in a research report on Friday. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Blueprint Medicines has a consensus rating of Hold and a consensus price target of $91.57.

Blueprint Medicines Stock Performance

Shares of BPMC opened at $93.10 on Friday. Blueprint Medicines has a 52-week low of $43.89 and a 52-week high of $101.00. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of -11.14 and a beta of 0.63. The company has a debt-to-equity ratio of 1.60, a quick ratio of 3.66 and a current ratio of 3.76. The stock’s 50-day simple moving average is $90.85 and its 200 day simple moving average is $79.52.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.04) by $0.22. Blueprint Medicines had a negative return on equity of 191.56% and a negative net margin of 203.30%. The company had revenue of $71.96 million during the quarter, compared to analyst estimates of $67.34 million. During the same quarter last year, the company earned ($2.65) earnings per share. The firm’s quarterly revenue was up 85.5% on a year-over-year basis. Research analysts forecast that Blueprint Medicines will post -5.41 EPS for the current fiscal year.

Insider Transactions at Blueprint Medicines

In other Blueprint Medicines news, COO Christina Rossi sold 6,070 shares of the company’s 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 sale, the chief operating officer now owns 64,306 shares in the company, valued at $5,831,911.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Blueprint Medicines news, COO Christina Rossi sold 6,070 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $90.69, for a total value of $550,488.30. Following the completion of the sale, the chief operating officer now directly owns 64,306 shares in the company, valued at $5,831,911.14. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Christopher K. Murray sold 621 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $93.65, for a total value of $58,156.65. Following the transaction, the insider now directly owns 36,374 shares in the company, valued at $3,406,425.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,289 shares of company stock valued at $8,314,163. Company insiders own 3.88% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Readystate Asset Management LP acquired a new position in shares of Blueprint Medicines during the fourth quarter valued at about $3,692,000. American Century Companies Inc. raised its holdings in shares of 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 buying an additional 33,243 shares during the last quarter. Diversified Trust Co lifted its stake in shares of Blueprint Medicines by 2.9% during the third quarter. Diversified Trust Co now owns 11,219 shares of the biotechnology company’s stock worth $563,000 after buying an additional 318 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in shares of Blueprint Medicines by 95.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,550 shares of the biotechnology company’s stock valued at $78,000 after buying an additional 757 shares during the last quarter. Finally, Rafferty Asset Management LLC increased its position in shares of Blueprint Medicines by 17.4% in the 3rd quarter. Rafferty Asset Management LLC now owns 166,690 shares of the biotechnology company’s stock valued at $8,371,000 after acquiring 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.