Blueprint Medicines (NASDAQ:BPMC – Get Rating) had its price objective increased by Morgan Stanley from $65.00 to $80.00 in a research note published on Friday, Marketbeat reports. Morgan Stanley currently has an equal weight rating on the biotechnology company's stock.
Other analysts have also recently issued research reports about the stock. Raymond James decreased their target price on shares of Blueprint Medicines from $133.00 to $115.00 and set a strong-buy rating on the stock in a research note on Wednesday, August 3rd. HC Wainwright decreased their target price on shares of Blueprint Medicines from $100.00 to $80.00 and set a buy rating on the stock in a research note on Wednesday, August 17th. The Goldman Sachs Group boosted their target price on shares of Blueprint Medicines from $126.00 to $143.00 and gave the stock a buy rating in a research note on Wednesday, August 3rd. Jefferies Financial Group boosted their target price on shares of Blueprint Medicines from $78.00 to $84.00 and gave the stock a buy rating in a research note on Monday, August 22nd. Finally, Stifel Nicolaus boosted their target price on shares of Blueprint Medicines from $93.00 to $100.00 and gave the stock a buy rating in a research note on Thursday, August 18th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $92.19.
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Blueprint Medicines Price Performance
Shares of NASDAQ:BPMC opened at $75.47 on Friday. The company's 50 day simple moving average is $63.57 and its 200 day simple moving average is $60.69. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of -6.36 and a beta of 0.78. Blueprint Medicines has a 1 year low of $43.46 and a 1 year high of $117.86.
Blueprint Medicines (NASDAQ:BPMC – Get Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The biotechnology company reported ($2.68) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.23) by ($0.45). The firm had revenue of $36.55 million during the quarter, compared to the consensus estimate of $37.61 million. Blueprint Medicines had a negative net
margin of 304.41% and a negative return on equity of 45.89%. The business's revenue was up 33.9% compared to the same quarter last year. During the same period last year, the business earned ($1.86) earnings per share. As a group, analysts anticipate that Blueprint Medicines will post -9.2 EPS for the current fiscal year.
Insider Activity at Blueprint Medicines
In related news, insider Debra Durso-Bumpus sold 5,000 shares of the business's stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $75.11, for a total value of $375,550.00. Following the transaction, the insider now owns 40,836 shares in the company, valued at $3,067,191.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Debra Durso-Bumpus sold 5,000 shares of the business's stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $75.11, for a total value of $375,550.00. Following the transaction, the insider now owns 40,836 shares in the company, valued at $3,067,191.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Christopher K. Murray sold 2,500 shares of the business's stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $60.44, for a total transaction of $151,100.00. Following the completion of the transaction, the senior vice president now owns 21,320 shares in the company, valued at approximately $1,288,580.80. The disclosure for this sale can be found here. Insiders have sold a total of 47,500 shares of company stock worth $3,300,123 over the last quarter. Company insiders own 3.42% of the company's stock.
Hedge Funds Weigh In On Blueprint Medicines
Several institutional investors have recently made changes to their positions in BPMC. FMR LLC raised its holdings in shares of Blueprint Medicines by 60.8% during the second quarter. FMR LLC now owns 8,576,079 shares of the biotechnology company's stock valued at $433,178,000 after purchasing an additional 3,242,698 shares during the period. Cadian Capital Management LP raised its holdings in shares of Blueprint Medicines by 326.3% during the first quarter. Cadian Capital Management LP now owns 1,921,347 shares of the biotechnology company's stock valued at $122,736,000 after purchasing an additional 1,470,690 shares during the period. Marshall Wace LLP raised its holdings in shares of Blueprint Medicines by 3,407.4% during the fourth quarter. Marshall Wace LLP now owns 950,682 shares of the biotechnology company's stock valued at $101,827,000 after purchasing an additional 923,577 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Blueprint Medicines by 14.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 5,631,687 shares of the biotechnology company's stock worth $284,457,000 after acquiring an additional 698,562 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Blueprint Medicines during the second quarter worth about $34,599,000.
Blueprint Medicines Company Profile
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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 non-advanced SM and other mast cell disorders; and Fisogatinib, an orally available and potent inhibitor for the treatment of hepatocellular carcinoma.
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