SVB Leerink Cuts Blueprint Medicines (NASDAQ:BPMC) Price Target to $120.00

Blueprint Medicines (NASDAQ:BPMC) had its target price lowered by SVB Leerink from $132.00 to $120.00 in a research report released on Wednesday morning, PriceTargets.com reports. The firm currently has an outperform rating on the biotechnology company’s stock. SVB Leerink also issued estimates for Blueprint Medicines’ Q4 2021 earnings at ($0.85) EPS, FY2021 earnings at ($6.42) EPS, Q1 2022 earnings at ($2.15) EPS, Q2 2022 earnings at ($2.22) EPS, Q3 2022 earnings at ($2.30) EPS, Q4 2022 earnings at ($2.02) EPS, FY2022 earnings at ($8.69) EPS, FY2023 earnings at ($6.39) EPS, FY2024 earnings at ($4.09) EPS, FY2025 earnings at ($0.27) EPS and FY2026 earnings at $2.36 EPS.

Other research analysts have also recently issued research reports about the company. Raymond James raised their target price on Blueprint Medicines from $122.00 to $133.00 and gave the company a strong-buy rating in a research note on Wednesday, November 10th. HC Wainwright reaffirmed a buy rating and issued a $134.00 price objective on shares of Blueprint Medicines in a report on Tuesday, November 30th. JMP Securities reissued a buy rating and set a $151.00 price target on shares of Blueprint Medicines in a report on Tuesday, November 30th. TheStreet downgraded Blueprint Medicines from a c rating to a d rating in a research report on Friday, November 5th. Finally, Morgan Stanley boosted their target price on Blueprint Medicines from $96.00 to $111.00 and gave the stock an equal weight rating in a research report on Friday, October 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Blueprint Medicines presently has an average rating of Buy and an average price target of $118.09.

Shares of Blueprint Medicines stock opened at $78.00 on Wednesday. The business’s 50-day moving average price is $102.37 and its 200-day moving average price is $97.28. Blueprint Medicines has a 12 month low of $74.75 and a 12 month high of $117.86.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Wednesday, October 27th. The biotechnology company reported ($2.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.63) by ($0.37). Blueprint Medicines had a negative return on equity of 30.19% and a negative net margin of 383.58%. The company had revenue of $24.19 million for the quarter, compared to the consensus estimate of $42.58 million. During the same quarter in the previous year, the business earned $11.16 earnings per share. Blueprint Medicines’s revenue was down 96.8% compared to the same quarter last year. Research analysts forecast that Blueprint Medicines will post -6.74 EPS for the current year.

In other Blueprint Medicines news, EVP Tracey L. Mccain sold 5,000 shares of the stock in a transaction dated Tuesday, December 7th. The stock was sold at an average price of $97.30, for a total transaction of $486,500.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider L. Becker Hewes sold 729 shares of the stock in a transaction dated Wednesday, December 15th. The stock was sold at an average price of $100.00, for a total value of $72,900.00. The disclosure for this sale can be found here. Insiders sold a total of 42,458 shares of company stock valued at $4,729,692 in the last 90 days. 3.34% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the company. Exchange Traded Concepts LLC lifted its stake in Blueprint Medicines by 38.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 436 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 121 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in Blueprint Medicines by 3,253.3% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 503 shares of the biotechnology company’s stock worth $51,000 after purchasing an additional 488 shares in the last quarter. Clearstead Trust LLC purchased a new position in Blueprint Medicines in the 3rd quarter worth approximately $53,000. FORA Capital LLC purchased a new position in Blueprint Medicines in the 2nd quarter worth approximately $63,000. Finally, Van ECK Associates Corp lifted its stake in Blueprint Medicines by 116.7% in the 2nd quarter. Van ECK Associates Corp now owns 728 shares of the biotechnology company’s stock worth $64,000 after purchasing an additional 392 shares in the last quarter.

Blueprint Medicines Company Profile

Blueprint Medicines Corp. is a precision therapy company. It focuses on medicines to improve the lives of patients with genomically defined cancers, rare diseases and cancer immunotherapy. 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.

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Analyst Recommendations for Blueprint Medicines (NASDAQ:BPMC)

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