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

Blueprint Medicines (NASDAQ:BPMC) had its price target increased by equities research analysts at Stifel Nicolaus from $120.00 to $130.00 in a report released on Friday, Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 38.24% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. Wedbush restated an “outperform” rating and set a $110.00 price objective on shares of Blueprint Medicines in a research report on Friday. Needham & Company LLC restated a “buy” rating and set a $97.00 price target on shares of Blueprint Medicines in a report on Friday. Barclays upped their price target on shares of Blueprint Medicines from $58.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, February 13th. Citigroup raised their price target on shares of Blueprint Medicines from $54.00 to $65.00 and gave the stock a “sell” rating in a research report on Friday, February 16th. Finally, JMP Securities reissued a “market outperform” rating and set a $114.00 target price on shares of Blueprint Medicines in a research report on Wednesday, April 10th. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Blueprint Medicines presently has a consensus rating of “Hold” and an average target price of $91.57.

Blueprint Medicines Stock Up 3.6 %

Shares of BPMC stock traded up $3.31 on Friday, hitting $94.04. The stock had a trading volume of 218,278 shares, compared to its average volume of 757,465. The stock’s 50 day moving average is $90.73 and its 200-day moving average is $78.51. 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 firm has a market capitalization of $5.76 billion, a price-to-earnings ratio of -11.11 and a beta of 0.63. Blueprint Medicines has a 52-week low of $43.89 and a 52-week high of $101.00.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results 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 business had revenue of $71.96 million for the quarter, compared to analyst estimates of $67.34 million. During the same period in the prior year, the company posted ($2.65) EPS. The business’s revenue was up 85.5% compared to the same quarter last year. As a group, research analysts expect that Blueprint Medicines will post -5.41 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Christopher K. Murray sold 621 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $93.65, for a total transaction of $58,156.65. Following the sale, the insider now directly owns 36,374 shares of the company’s stock, valued at $3,406,425.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Christopher K. Murray sold 621 shares of the firm’s stock in a transaction dated 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 owns 36,374 shares in the company, valued at $3,406,425.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christopher K. Murray sold 5,000 shares of the business’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 sale, the insider now directly 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 valued at $8,314,163 in the last 90 days. 3.88% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BPMC. Vanguard Group Inc. increased its holdings in Blueprint Medicines by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 6,114,970 shares of the biotechnology company’s stock valued at $564,045,000 after purchasing an additional 147,827 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Blueprint Medicines by 3.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,080,521 shares of the biotechnology company’s stock valued at $255,144,000 after acquiring an additional 156,807 shares during the period. Rock Springs Capital Management LP boosted its stake in Blueprint Medicines by 22.8% during the 3rd quarter. Rock Springs Capital Management LP now owns 2,685,294 shares of the biotechnology company’s stock worth $134,855,000 after acquiring an additional 498,622 shares during the last quarter. Polar Capital Holdings Plc grew its holdings in Blueprint Medicines by 108.0% during the third quarter. Polar Capital Holdings Plc now owns 1,040,000 shares of the biotechnology company’s stock valued at $52,229,000 after purchasing an additional 540,000 shares during the period. Finally, Avidity Partners Management LP increased its stake in Blueprint Medicines by 81.1% in the third quarter. Avidity Partners Management LP now owns 751,600 shares of the biotechnology company’s stock valued at $37,745,000 after purchasing an additional 336,600 shares in the last quarter.

About Blueprint Medicines

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.