Barclays Raises Blueprint Medicines (NASDAQ:BPMC) Price Target to $46.00

Blueprint Medicines (NASDAQ:BPMC – Get Rating) had its price target lifted by Barclays from $44.00 to $46.00 in a research note published on Tuesday, The Fly reports.

A number of other equities research analysts also recently weighed in on BPMC. Raymond James lowered their price target on Blueprint Medicines from $115.00 to $85.00 and set a strong-buy rating on the stock in a research report on Friday, February 17th. Needham & Company LLC reissued a buy rating and issued a $57.00 target price on shares of Blueprint Medicines in a research note on Wednesday, April 19th. JMP Securities reaffirmed a market outperform rating and issued a $114.00 price target on shares of Blueprint Medicines in a research note on Thursday, March 30th. VNET Group reiterated a maintains rating on shares of Blueprint Medicines in a research report on Friday, May 5th. Finally, SVB Leerink lowered their price objective on Blueprint Medicines from $45.00 to $38.00 and set a market perform rating for the company in a research report on Friday, February 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $72.84.

Blueprint Medicines Trading Down 6.4 %

Shares of BPMC stock opened at $54.28 on Tuesday. The business’s fifty day moving average is $49.07 and its 200 day moving average is $46.43. Blueprint Medicines has a 52-week low of $37.82 and a 52-week high of $79.40. The company has a debt-to-equity ratio of 0.29, a quick ratio of 5.11 and a current ratio of 5.21. The company has a market capitalization of $3.28 billion, a PE ratio of -5.59 and a beta of 0.72.

Blueprint Medicines (NASDAQ:BPMC – Get Rating) last released its quarterly earnings results on Thursday, May 4th. The biotechnology company reported ($2.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.66) by $0.51. Blueprint Medicines had a negative return on equity of 100.31% and a negative net margin of 284.02%. The business had revenue of $63.29 million for the quarter, compared to the consensus estimate of $41.85 million. During the same quarter last year, the business posted ($1.79) earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities research analysts anticipate that Blueprint Medicines will post -9.59 EPS for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, insider Christopher K. Murray sold 1,875 shares of Blueprint Medicines stock in a transaction on Monday, March 6th. The stock was sold at an average price of $45.68, for a total transaction of $85,650.00. Following the completion of the sale, the insider now directly owns 25,695 shares of the company’s stock, valued at approximately $1,173,747.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Christopher K. Murray sold 1,875 shares of the business’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $45.68, for a total value of $85,650.00. Following the completion of the transaction, the insider now directly owns 25,695 shares of the company’s stock, valued at approximately $1,173,747.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Tracey L. Mccain sold 3,322 shares of the business’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $45.68, for a total value of $151,748.96. Following the completion of the transaction, the executive vice president now directly owns 52,666 shares of the company’s stock, valued at $2,405,782.88. The disclosure for this sale can be found here. Insiders sold a total of 27,696 shares of company stock valued at $1,265,091 in the last ninety days. Corporate insiders own 3.42% of the company’s stock.

Institutional Trading of Blueprint Medicines

A number of hedge funds have recently modified their holdings of BPMC. Price T Rowe Associates Inc. MD boosted its stake in shares of Blueprint Medicines by 15.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,948,434 shares of the biotechnology company’s stock worth $222,631,000 after buying an additional 649,144 shares during the last quarter. Norges Bank acquired a new position in Blueprint Medicines in the 4th quarter worth about $27,778,000. State Street Corp raised its holdings in Blueprint Medicines by 30.9% in the 1st quarter. State Street Corp now owns 2,266,894 shares of the biotechnology company’s stock worth $144,809,000 after purchasing an additional 535,424 shares during the period. Marshall Wace LLP acquired a new position in Blueprint Medicines in the 4th quarter worth about $23,195,000. Finally, BlackRock Inc. raised its holdings in Blueprint Medicines by 9.0% in the 3rd quarter. BlackRock Inc. now owns 5,756,501 shares of the biotechnology company’s stock worth $379,297,000 after purchasing an additional 476,743 shares during the period.

Blueprint Medicines Company Profile

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Blueprint Medicines Corp. is a precision therapy company, which engages in the invention of medicines for people with cancer and blood disorders. The company was founded by Chris Varma, Nicholas B. Lydon, Brian Druker, and Alexis Borisy on October 14, 2008 and is headquartered in Cambridge, MA.