Blueprint Medicines (NASDAQ:BPMC) PT Raised to $76.00

Blueprint Medicines (NASDAQ:BPMC) had its price target increased by Citigroup from $65.00 to $76.00 in a report released on Friday, Benzinga reports. They currently have a sell rating on the biotechnology company’s stock.

A number of other equities analysts have also recently weighed in on BPMC. Barclays upped their price target on shares of Blueprint Medicines from $70.00 to $75.00 and gave the stock an equal weight rating in a research note on Friday. Stifel Nicolaus boosted their price objective on shares of Blueprint Medicines from $120.00 to $130.00 and gave the stock a buy rating in a research report on Friday, April 26th. Needham & Company LLC reiterated a buy rating and issued a $97.00 price objective on shares of Blueprint Medicines in a research report on Thursday. HC Wainwright boosted their price objective on shares of Blueprint Medicines from $125.00 to $135.00 and gave the stock a buy rating in a research report on Friday. Finally, Piper Sandler boosted their price objective on shares of Blueprint Medicines from $78.00 to $104.00 and gave the stock a neutral rating in a research report on Friday. Three research analysts have rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $94.87.

Blueprint Medicines Stock Performance

Shares of NASDAQ:BPMC traded up $0.19 on Friday, reaching $107.19. 1,004,153 shares of the company were exchanged, 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 1-year low of $43.89 and a 1-year high of $110.93. The company has a 50-day moving average of $91.77 and a 200-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 analysts’ consensus estimates of ($2.04) by $0.22. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 215.07%. The business had revenue of $71.96 million for the quarter, compared to analysts’ expectations of $67.34 million. During the same period in the prior year, the company posted ($2.65) EPS. The business’s revenue for the quarter was up 85.5% on a year-over-year basis. Equities research analysts expect that Blueprint Medicines will post -5.41 EPS for the current year.

Insider Activity

In other news, insider Christopher K. Murray sold 621 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $93.65, for a total transaction of $58,156.65. Following the completion of the transaction, the insider now owns 36,374 shares of the company’s stock, valued at approximately $3,406,425.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related 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 completion of the sale, the insider now owns 36,374 shares of the company’s stock, valued at approximately $3,406,425.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael Landsittel sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $95.00, for a total transaction of $475,000.00. Following the sale, the chief financial officer now directly owns 47,286 shares of the company’s stock, valued at approximately $4,492,170. The disclosure for this sale can be found here. Insiders 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 Trading of Blueprint Medicines

A number of institutional investors and hedge funds have recently bought and sold shares of BPMC. Norges Bank acquired a new stake in Blueprint Medicines in the fourth quarter valued at approximately $55,893,000. Polar Capital Holdings Plc boosted its stake in shares of Blueprint Medicines by 108.0% during the 3rd quarter. Polar Capital Holdings Plc now owns 1,040,000 shares of the biotechnology company’s stock valued at $52,229,000 after buying an additional 540,000 shares during the last quarter. Rock Springs Capital Management LP boosted its stake in shares of 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 valued at $134,855,000 after buying an additional 498,622 shares during the last quarter. Avidity Partners Management LP boosted its stake in shares of Blueprint Medicines by 81.1% during the 3rd quarter. Avidity Partners Management LP now owns 751,600 shares of the biotechnology company’s stock valued at $37,745,000 after buying an additional 336,600 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Blueprint Medicines by 2,788.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 269,658 shares of the biotechnology company’s stock valued at $24,873,000 after buying an additional 260,321 shares during 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.