Brokerages Set Blueprint Medicines Corp (NASDAQ:BPMC) Target Price at $103.30

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Shares of Blueprint Medicines Corp (NASDAQ:BPMC) have earned a consensus rating of “Buy” from the fifteen ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $105.30.

A number of research firms have recently weighed in on BPMC. Raymond James upgraded shares of Blueprint Medicines from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $106.00 to $112.00 in a research note on Wednesday, November 6th. Leerink Swann increased their price objective on shares of Blueprint Medicines from to in a research note on Friday. Cowen reiterated a “buy” rating on shares of Blueprint Medicines in a research note on Monday, September 30th. HC Wainwright reiterated a “buy” rating on shares of Blueprint Medicines in a research note on Thursday, January 9th. Finally, Deutsche Bank cut their price objective on shares of Blueprint Medicines from $75.00 to $70.00 and set a “hold” rating on the stock in a research note on Tuesday, December 10th.

Blueprint Medicines stock traded up $1.13 during mid-day trading on Tuesday, reaching $76.77. 1,043,444 shares of the company traded hands, compared to its average volume of 782,864. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.46 and a quick ratio of 5.46. Blueprint Medicines has a fifty-two week low of $62.82 and a fifty-two week high of $102.98. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of -14.24 and a beta of 1.62. The firm’s fifty day moving average is $78.72 and its two-hundred day moving average is $81.19.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Tuesday, November 5th. The biotechnology company reported ($1.93) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($2.19) by $0.26. The firm had revenue of $9.14 million for the quarter, compared to analyst estimates of $2.85 million. Blueprint Medicines had a negative net margin of 2,258.84% and a negative return on equity of 77.27%. The business’s quarterly revenue was up 734.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.66) earnings per share. As a group, equities research analysts predict that Blueprint Medicines will post -7.51 earnings per share for the current year.

In related news, CEO Jeffrey W. Albers sold 8,256 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $75.42, for a total transaction of $622,667.52. Following the sale, the chief executive officer now owns 66,961 shares in the company, valued at $5,050,198.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jeffrey W. Albers sold 11,744 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $74.56, for a total transaction of $875,632.64. Following the sale, the chief executive officer now owns 66,961 shares in the company, valued at approximately $4,992,612.16. The disclosure for this sale can be found here. Insiders sold 35,658 shares of company stock worth $2,785,565 in the last quarter. Company insiders own 4.02% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its position in Blueprint Medicines by 34.9% during the second quarter. Bank of America Corp DE now owns 113,013 shares of the biotechnology company’s stock valued at $10,660,000 after buying an additional 29,239 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its position in Blueprint Medicines by 62.8% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,097 shares of the biotechnology company’s stock valued at $104,000 after buying an additional 423 shares during the period. Russell Investments Group Ltd. grew its position in Blueprint Medicines by 49.3% during the third quarter. Russell Investments Group Ltd. now owns 29,253 shares of the biotechnology company’s stock valued at $2,149,000 after buying an additional 9,661 shares during the period. Comerica Bank grew its position in Blueprint Medicines by 54.3% during the third quarter. Comerica Bank now owns 16,932 shares of the biotechnology company’s stock valued at $1,303,000 after buying an additional 5,961 shares during the period. Finally, Pictet Asset Management Ltd. grew its position in Blueprint Medicines by 14.0% during the third quarter. Pictet Asset Management Ltd. now owns 525,982 shares of the biotechnology company’s stock valued at $38,644,000 after buying an additional 64,532 shares during the period.

Blueprint Medicines Company Profile

Blueprint Medicines Corporation develops drugs of small molecule kinase inhibitors that target genomic drivers in various cancers and a rare genetic disease. Its lead drug candidates include avapritinib, which completed Phase I clinical trials that targets PDGFRA Exon 18 mutant GIST and KIT-driven GIST; and BLU-554, which is in Phase I clinical trials an orally available, potent, and irreversible inhibitor of the kinase FGFR4 that is activated in a defined subset of patients with hepatocellular carcinoma.

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Analyst Recommendations for Blueprint Medicines (NASDAQ:BPMC)

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