Blueprint Medicines (NASDAQ:BPMC) Price Target Increased to $130.00 by Analysts at Stifel Nicolaus

Blueprint Medicines (NASDAQ:BPMC) had its price objective increased by Stifel Nicolaus from $120.00 to $130.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a buy rating on the biotechnology company’s stock.

Other analysts also recently issued research reports about the company. HC Wainwright reiterated a buy rating and issued a $125.00 price objective on shares of Blueprint Medicines in a research report on Friday. Barclays raised their price target on shares of Blueprint Medicines from $58.00 to $70.00 and gave the stock an equal weight rating in a report on Tuesday, February 13th. Citigroup upped their price objective on shares of Blueprint Medicines from $54.00 to $65.00 and gave the company a sell rating in a research note on Friday, February 16th. JMP Securities restated a market outperform rating and set a $114.00 price target on shares of Blueprint Medicines in a report on Wednesday, April 10th. Finally, Needham & Company LLC reiterated a buy rating and issued a $97.00 price objective on shares of Blueprint Medicines in a report on Friday. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Blueprint Medicines currently has a consensus rating of Hold and a consensus price target of $91.57.

Blueprint Medicines Stock Up 2.5 %

BPMC stock opened at $93.00 on Friday. Blueprint Medicines has a one year low of $43.89 and a one year high of $101.00. The company’s 50 day moving average price is $90.79 and its two-hundred day moving average price is $78.80. The company has a debt-to-equity ratio of 1.60, a current ratio of 3.76 and a quick ratio of 3.66.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, topping the consensus estimate of ($2.04) by $0.22. Blueprint Medicines had a negative net margin of 203.30% and a negative return on equity of 191.56%. The business had revenue of $71.96 million during the quarter, compared to the consensus estimate of $67.34 million. During the same period in the previous year, the firm posted ($2.65) earnings per share. The firm’s revenue for the quarter was up 85.5% on a year-over-year basis. Equities research analysts forecast that Blueprint Medicines will post -5.41 earnings per share for the current year.

Insider Transactions at Blueprint Medicines

In related news, CFO Michael Landsittel sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $95.00, for a total transaction of $475,000.00. Following the sale, the chief financial officer now owns 47,286 shares of the company’s stock, valued at $4,492,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Blueprint Medicines news, CFO Michael Landsittel sold 5,000 shares of Blueprint Medicines stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $95.00, for a total transaction of $475,000.00. Following the completion of the transaction, the chief financial officer now owns 47,286 shares in the company, valued at $4,492,170. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey W. Albers sold 25,073 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $87.28, for a total value of $2,188,371.44. Following the transaction, the director now owns 176,050 shares of the company’s stock, valued at $15,365,644. The disclosure for this sale can be found here. Insiders have sold 92,289 shares of company stock valued at $8,314,163 in the last three months. 3.88% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Readystate Asset Management LP purchased a new position in Blueprint Medicines in the 4th quarter worth approximately $3,692,000. American Century Companies Inc. lifted its holdings in shares of Blueprint Medicines by 5.2% during the third quarter. American Century Companies Inc. now owns 670,972 shares of the biotechnology company’s stock valued at $33,696,000 after purchasing an additional 33,243 shares in the last quarter. Diversified Trust Co boosted its position in shares of Blueprint Medicines by 2.9% during the third quarter. Diversified Trust Co now owns 11,219 shares of the biotechnology company’s stock valued at $563,000 after buying an additional 318 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Blueprint Medicines by 95.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,550 shares of the biotechnology company’s stock worth $78,000 after buying an additional 757 shares in the last quarter. Finally, Rafferty Asset Management LLC raised its position in Blueprint Medicines by 17.4% in the 3rd quarter. Rafferty Asset Management LLC now owns 166,690 shares of the biotechnology company’s stock worth $8,371,000 after buying an additional 24,693 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.