Blueprint Medicines (NASDAQ:BPMC) Price Target Raised to $129.00

Blueprint Medicines (NASDAQ:BPMC) had its price target hoisted by JPMorgan Chase & Co. from $126.00 to $129.00 in a research report released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the biotechnology company’s stock.

Several other equities research analysts also recently commented on BPMC. Wells Fargo & Company cut their target price on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. UBS Group started coverage on shares of Blueprint Medicines in a report on Thursday, October 24th. They set a “neutral” rating and a $88.00 price target on the stock. JMP Securities restated a “market outperform” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a report on Wednesday, January 15th. Guggenheim reaffirmed a “buy” rating on shares of Blueprint Medicines in a report on Wednesday, December 11th. Finally, Stephens reissued an “overweight” rating and issued a $140.00 price target on shares of Blueprint Medicines in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Blueprint Medicines presently has an average rating of “Moderate Buy” and an average price target of $123.72.

Blueprint Medicines Price Performance

Blueprint Medicines stock opened at $109.62 on Tuesday. The stock has a 50-day moving average price of $99.11 and a two-hundred day moving average price of $95.23. Blueprint Medicines has a 12 month low of $72.24 and a 12 month high of $121.90. The company has a market capitalization of $6.96 billion, a PE ratio of -51.95 and a beta of 0.62. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09.

Insider Activity

In other news, CEO Kate Haviland sold 2,353 shares of Blueprint Medicines stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $96.60, for a total transaction of $227,299.80. Following the completion of the transaction, the chief executive officer now directly owns 150,824 shares in the company, valued at $14,569,598.40. This trade represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Christina Rossi sold 2,274 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $95.10, for a total transaction of $216,257.40. Following the completion of the sale, the chief operating officer now owns 71,657 shares in the company, valued at $6,814,580.70. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,851 shares of company stock worth $4,984,696 in the last three months. Company insiders own 4.21% of the company’s stock.

Institutional Trading of Blueprint Medicines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BPMC. Wellington Management Group LLP boosted its position in shares of Blueprint Medicines by 22.5% during the third quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company’s stock valued at $366,726,000 after buying an additional 729,055 shares during the last quarter. State Street Corp boosted its holdings in Blueprint Medicines by 16.2% during the 3rd quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock worth $255,827,000 after acquiring an additional 385,818 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Blueprint Medicines by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,480,187 shares of the biotechnology company’s stock worth $136,942,000 after acquiring an additional 20,703 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Blueprint Medicines by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 604,397 shares of the biotechnology company’s stock worth $52,716,000 after acquiring an additional 7,165 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Blueprint Medicines by 161.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 496,087 shares of the biotechnology company’s stock valued at $45,888,000 after purchasing an additional 306,079 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.