Barclays Increases Blueprint Medicines (NASDAQ:BPMC) Price Target to $75.00

Blueprint Medicines (NASDAQ:BPMC) had its price target lifted by equities research analysts at Barclays from $70.00 to $75.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the biotechnology company’s stock. Barclays‘s target price points to a potential downside of 30.03% from the company’s current price.

Several other research analysts have also recently commented on BPMC. Needham & Company LLC reissued a “buy” rating and issued a $97.00 target price on shares of Blueprint Medicines in a research report on Thursday. Stifel Nicolaus lifted 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. 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. Piper Sandler lifted their price target on Blueprint Medicines from $78.00 to $104.00 and gave the company a “neutral” rating in a report on Friday. Finally, Wedbush reissued an “outperform” rating and issued a $110.00 price objective on shares of Blueprint Medicines in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Blueprint Medicines currently has an average rating of “Hold” and an average target price of $94.87.

Blueprint Medicines Price Performance

Shares of NASDAQ BPMC traded up $0.19 during trading on Friday, hitting $107.19. The company had a trading volume of 1,004,153 shares, compared to its average volume of 698,730. The company has a market cap of $6.56 billion, a P/E ratio of -22.28 and a beta of 0.65. 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 business’s 50-day moving average is $91.77 and its 200 day moving average is $80.73. Blueprint Medicines has a 52 week low of $43.89 and a 52 week high of $110.93.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.04) by $0.22. The company had revenue of $71.96 million for the quarter, compared to analyst estimates of $67.34 million. Blueprint Medicines had a negative return on equity of 215.07% and a negative net margin of 102.15%. Blueprint Medicines’s revenue for the quarter was up 85.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($2.65) earnings per share. Equities research analysts predict that Blueprint Medicines will post -5.38 earnings per share for the current fiscal year.

Insider Transactions at Blueprint Medicines

In related news, insider Christopher K. Murray sold 5,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $100.00, for a total transaction of $500,000.00. Following the completion of the transaction, the insider now directly owns 24,495 shares in the company, valued at approximately $2,449,500. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Blueprint Medicines news, insider Christopher K. Murray sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $100.00, for a total value of $500,000.00. Following the completion of the transaction, the insider now owns 24,495 shares of the company’s stock, valued at approximately $2,449,500. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey W. Albers sold 11,033 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $90.69, for a total value of $1,000,582.77. Following the completion of the transaction, the director now directly owns 165,017 shares of the company’s stock, valued at $14,965,391.73. The disclosure for this sale can be found here. Insiders sold a total of 92,289 shares of company stock worth $8,314,163 over the last three months. 3.88% of the stock is currently owned by insiders.

Institutional Trading of Blueprint Medicines

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Compass Wealth Management LLC bought a new position in Blueprint Medicines during the fourth quarter worth about $69,000. PNC Financial Services Group Inc. raised its stake in Blueprint Medicines by 63.4% during the third quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock worth $43,000 after acquiring an additional 329 shares in the last quarter. Van ECK Associates Corp boosted its stake 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 purchasing an additional 193 shares in the last quarter. Cutler Group LLC CA grew its holdings in shares of Blueprint Medicines by 1,685.7% in the 3rd quarter. Cutler Group LLC CA now owns 1,000 shares of the biotechnology company’s stock worth $50,000 after purchasing an additional 944 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in Blueprint Medicines during the 4th quarter valued at about $95,000.

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.