Investment Analysts’ Weekly Ratings Changes for Blueprint Medicines (BPMC)

Blueprint Medicines (NASDAQ: BPMC) recently received a number of ratings updates from brokerages and research firms:

• 5/14/2024 – Blueprint Medicines is now covered by analysts at Stephens. They set an “overweight” rating and a $140.00 price target on the stock.
• 5/6/2024 – Blueprint Medicines was upgraded by analysts at Leerink Partnrs from an “underperform” rating to a “market perform” rating.
• 5/6/2024 – Blueprint Medicines was upgraded by analysts at SVB Leerink LLC from an “underperform” rating to a “market perform” rating. They now have a $97.00 price target on the stock, up previously from $50.00.
• 5/6/2024 – Blueprint Medicines had its price target raised by analysts at The Goldman Sachs Group, Inc. from $121.00 to $168.00. They now have a “buy” rating on the stock.
• 5/3/2024 – Blueprint Medicines had its price target raised by analysts at Citigroup Inc. from $65.00 to $76.00. They now have a “sell” rating on the stock.
• 5/3/2024 – Blueprint Medicines had its price target raised by analysts at Piper Sandler from $78.00 to $104.00. They now have a “neutral” rating on the stock.
• 5/3/2024 – Blueprint Medicines had its price target raised by analysts at JMP Securities from $114.00 to $125.00. They now have a “market outperform” rating on the stock.
• 5/3/2024 – Blueprint Medicines was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 5/3/2024 – Blueprint Medicines had its price target raised by analysts at Barclays PLC from $70.00 to $75.00. They now have an “equal weight” rating on the stock.
• 5/3/2024 – Blueprint Medicines had its price target raised by analysts at HC Wainwright from $125.00 to $135.00. They now have a “buy” rating on the stock.
• 5/2/2024 – Blueprint Medicines had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $97.00 price target on the stock.
• 4/26/2024 – Blueprint Medicines had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $110.00 price target on the stock.
• 4/26/2024 – Blueprint Medicines had its price target raised by analysts at Stifel Nicolaus from $120.00 to $130.00. They now have a “buy” rating on the stock.
• 4/26/2024 – Blueprint Medicines had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $97.00 price target on the stock.
• 4/26/2024 – Blueprint Medicines had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $125.00 price target on the stock.
• 4/10/2024 – Blueprint Medicines had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $114.00 price target on the stock.

Blueprint Medicines Price Performance

Shares of NASDAQ BPMC traded down $1.99 during midday trading on Tuesday, hitting $102.27. The company had a trading volume of 131,689 shares, compared to its average volume of 745,577. The company has a quick ratio of 3.61, a current ratio of 3.76 and a debt-to-equity ratio of 0.67. Blueprint Medicines Co. has a twelve month low of $43.89 and a twelve month high of $111.02. The business has a 50-day simple moving average of $94.80 and a two-hundred day simple moving average of $85.22. The firm has a market capitalization of $6.40 billion, a price-to-earnings ratio of -21.26 and a beta of 0.65.

Insiders Place Their Bets

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 25,073 shares of Blueprint Medicines stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $87.28, for a total transaction of $2,188,371.44. Following the completion of the transaction, the director now owns 176,050 shares in the company, valued at $15,365,644. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Jeffrey W. Albers sold 25,073 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 176,050 shares in the company, valued at $15,365,644. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Michael Landsittel sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $105.00, for a total transaction of $1,050,000.00. Following the completion of the sale, the chief financial officer now owns 47,286 shares of the company’s stock, valued at $4,965,030. The disclosure for this sale can be found here. Over the last quarter, insiders sold 104,123 shares of company stock worth $9,554,679. Insiders own 3.88% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

Institutional investors have recently bought and sold shares of the stock. Covestor Ltd grew its stake in Blueprint Medicines by 9,700.0% during the first quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock worth $28,000 after buying an additional 291 shares during the period. Headlands Technologies LLC grew its stake in Blueprint Medicines by 105.2% during the first quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock worth $63,000 after buying an additional 342 shares during the period. Compass Wealth Management LLC purchased a new stake in Blueprint Medicines during the fourth quarter worth approximately $69,000. Natixis purchased a new stake in Blueprint Medicines during the first quarter worth approximately $73,000. Finally, Van ECK Associates Corp grew its stake in Blueprint Medicines by 28.4% during the fourth quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock worth $80,000 after buying an additional 193 shares during the period.

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.