Blueprint Medicines (NASDAQ:BPMC) has been assigned a $82.00 target price by analysts at Raymond James Financial in a research note issued on Sunday, December 10th. The firm presently has a “buy” rating on the biotechnology company’s stock. Raymond James Financial’s price objective would indicate a potential upside of 2.49% from the company’s previous close.
BPMC has been the subject of several other research reports. Cowen reissued a “buy” rating on shares of Blueprint Medicines in a report on Friday, November 10th. Canaccord Genuity reaffirmed a “buy” rating and issued a $80.00 price target (up previously from $66.00) on shares of Blueprint Medicines in a report on Wednesday, November 1st. Morgan Stanley upped their price target on Blueprint Medicines from $45.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, October 23rd. BTIG Research started coverage on Blueprint Medicines in a research note on Friday, September 29th. They set a “buy” rating and a $90.00 price objective for the company. Finally, Goldman Sachs Group restated a “buy” rating and issued a $79.00 price target (up from $64.00) on shares of Blueprint Medicines in a research report on Wednesday, September 20th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company’s stock. Blueprint Medicines has a consensus rating of “Buy” and a consensus target price of $83.78.
Shares of Blueprint Medicines (NASDAQ:BPMC) traded up $4.60 during midday trading on Friday, reaching $80.01. The company’s stock had a trading volume of 398,676 shares, compared to its average volume of 608,542. The company has a current ratio of 11.28, a quick ratio of 11.28 and a debt-to-equity ratio of 0.02. The company has a market cap of $3,430.00 and a price-to-earnings ratio of -23.39. Blueprint Medicines has a 1-year low of $27.71 and a 1-year high of $92.00.
Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Tuesday, October 31st. The biotechnology company reported ($0.96) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.90) by ($0.06). Blueprint Medicines had a negative return on equity of 43.11% and a negative net margin of 437.83%. The business had revenue of $8.07 million for the quarter, compared to analysts’ expectations of $5.35 million. During the same quarter last year, the firm earned ($0.62) earnings per share. The firm’s quarterly revenue was up 31.0% compared to the same quarter last year. equities research analysts anticipate that Blueprint Medicines will post -3.75 earnings per share for the current year.
In related news, CEO Jeffrey W. Albers sold 30,000 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $70.31, for a total value of $2,109,300.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Anthony L. Boral sold 5,000 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $70.40, for a total value of $352,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,783 shares of company stock worth $4,340,192. Insiders own 3.40% of the company’s stock.
Several hedge funds have recently modified their holdings of BPMC. Rockefeller Financial Services Inc. purchased a new position in shares of Blueprint Medicines during the third quarter worth about $160,000. Ameritas Investment Partners Inc. lifted its position in Blueprint Medicines by 68.9% in the second quarter. Ameritas Investment Partners Inc. now owns 3,410 shares of the biotechnology company’s stock valued at $173,000 after purchasing an additional 1,391 shares during the period. Fred Alger Management Inc. acquired a new stake in Blueprint Medicines in the second quarter valued at about $203,000. SG Americas Securities LLC lifted its position in Blueprint Medicines by 23.3% in the second quarter. SG Americas Securities LLC now owns 4,113 shares of the biotechnology company’s stock valued at $208,000 after purchasing an additional 778 shares during the period. Finally, Turner Investments LLC acquired a new stake in Blueprint Medicines in the third quarter valued at about $209,000. 83.54% of the stock is currently owned by institutional investors.
About Blueprint Medicines
Blueprint Medicines Corporation is a biopharmaceutical company. The Company focuses on patients with genomically defined diseases driven by abnormal kinase activation. It focuses on crafting drug candidates that provide clinical responses to patients without adequate treatment options. It has developed a small molecule drug pipeline in cancer and a genetic disease.
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