Blueprint Medicines (NASDAQ:BPMC) Price Target Raised to $143.00

Blueprint Medicines (NASDAQ:BPMCGet Rating) had its target price upped by The Goldman Sachs Group from $126.00 to $143.00 in a research report released on Wednesday, Marketbeat Ratings reports. The firm currently has a buy rating on the biotechnology company’s stock.

A number of other research analysts also recently issued reports on BPMC. Wells Fargo & Company assumed coverage on shares of Blueprint Medicines in a research report on Monday, June 27th. They issued an underweight rating and a $40.00 price target on the stock. Morgan Stanley reduced their price target on shares of Blueprint Medicines from $92.00 to $65.00 and set an equal weight rating on the stock in a research report on Tuesday, June 14th. SVB Leerink raised their price target on shares of Blueprint Medicines from $56.00 to $65.00 and gave the stock a market perform rating in a research report on Wednesday. StockNews.com raised shares of Blueprint Medicines from a sell rating to a hold rating in a report on Monday, May 9th. Finally, Oppenheimer initiated coverage on shares of Blueprint Medicines in a report on Thursday, July 7th. They issued an outperform rating and a $80.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Blueprint Medicines currently has a consensus rating of Moderate Buy and a consensus target price of $91.47.

Blueprint Medicines Stock Performance

Blueprint Medicines stock opened at $68.14 on Wednesday. The firm’s 50-day moving average is $54.16 and its 200-day moving average is $61.29. Blueprint Medicines has a 1 year low of $43.46 and a 1 year high of $117.86.

Blueprint Medicines (NASDAQ:BPMCGet Rating) last posted its quarterly earnings results 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). Blueprint Medicines had a negative return on equity of 45.89% and a negative net margin of 304.41%. The business had revenue of $36.55 million during the quarter, compared to the consensus estimate of $37.61 million. During the same quarter in the previous year, the business posted ($1.86) earnings per share. The company’s quarterly revenue was up 33.9% compared to the same quarter last year. On average, equities research analysts forecast that Blueprint Medicines will post -9.11 earnings per share for the current year.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, insider Percy H. Carter sold 1,908 shares of the firm’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $59.76, for a total transaction of $114,022.08. Following the transaction, the insider now owns 28,685 shares of the company’s stock, valued at approximately $1,714,215.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Blueprint Medicines

Several large investors have recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. increased its stake in Blueprint Medicines by 19.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 906 shares of the biotechnology company’s stock valued at $97,000 after buying an additional 150 shares during the period. CIBC Asset Management Inc boosted its position in shares of Blueprint Medicines by 7.1% during the 4th quarter. CIBC Asset Management Inc now owns 2,536 shares of the biotechnology company’s stock valued at $272,000 after purchasing an additional 168 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its position in shares of Blueprint Medicines by 0.5% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 35,131 shares of the biotechnology company’s stock valued at $3,763,000 after purchasing an additional 175 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Blueprint Medicines by 15.2% during the 4th quarter. Van ECK Associates Corp now owns 1,335 shares of the biotechnology company’s stock valued at $143,000 after purchasing an additional 176 shares in the last quarter. Finally, Exane Derivatives boosted its position in shares of Blueprint Medicines by 45.8% during the 1st quarter. Exane Derivatives now owns 567 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 178 shares in the last quarter. Institutional investors and hedge funds own 99.69% of the company’s stock.

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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Analyst Recommendations for Blueprint Medicines (NASDAQ:BPMC)

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