Blueprint Medicines (NASDAQ:BPMC) Price Target Cut to $151.00 by Analysts at Wells Fargo & Company

Blueprint Medicines (NASDAQ:BPMC) had its price objective lowered by Wells Fargo & Company from $153.00 to $151.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the biotechnology company’s stock.

Several other research firms have also weighed in on BPMC. Guggenheim lifted their target price on Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. UBS Group assumed coverage on shares of Blueprint Medicines in a research note on Thursday, October 24th. They issued a “neutral” rating and a $88.00 price target on the stock. Oppenheimer lifted their price target on Blueprint Medicines from $114.00 to $125.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Robert W. Baird boosted their target price on Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Baird R W upgraded shares of Blueprint Medicines to a “strong-buy” rating in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $120.39.

Blueprint Medicines Stock Performance

Shares of BPMC stock traded up $1.24 during trading hours on Thursday, reaching $88.75. 59,019 shares of the company’s stock were exchanged, compared to its average volume of 692,058. The stock has a market capitalization of $5.62 billion, a P/E ratio of -41.47 and a beta of 0.58. The company has a quick ratio of 3.65, a current ratio of 3.71 and a debt-to-equity ratio of 1.06. Blueprint Medicines has a fifty-two week low of $56.74 and a fifty-two week high of $121.90. The business has a fifty day moving average price of $88.86 and a 200-day moving average price of $98.35.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.08. Blueprint Medicines had a negative return on equity of 118.86% and a negative net margin of 29.48%. The company had revenue of $128.20 million for the quarter, compared to analyst estimates of $127.56 million. During the same quarter in the previous year, the firm earned ($2.20) earnings per share. The business’s revenue was up 126.5% on a year-over-year basis. Analysts predict that Blueprint Medicines will post -3.82 EPS for the current fiscal year.

Insider Activity

In other news, insider Philina Lee sold 41,913 shares of Blueprint Medicines stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the completion of the transaction, the insider now directly owns 34,729 shares in the company, valued at $3,236,395.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Fouad Namouni sold 3,633 shares of the business’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total value of $324,499.56. Following the transaction, the insider now directly owns 69,070 shares of the company’s stock, valued at approximately $6,169,332.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Philina Lee sold 41,913 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the sale, the insider now directly owns 34,729 shares in the company, valued at $3,236,395.51. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.21% of the company’s stock.

Institutional Trading of Blueprint Medicines

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new stake in shares of Blueprint Medicines during the first quarter valued at about $218,000. SG Americas Securities LLC grew its position in shares of Blueprint Medicines by 117.6% during the 1st quarter. SG Americas Securities LLC now owns 11,865 shares of the biotechnology company’s stock valued at $1,126,000 after purchasing an additional 6,412 shares in the last quarter. Swiss National Bank boosted its stake in Blueprint Medicines by 0.4% during the first quarter. Swiss National Bank now owns 114,000 shares of the biotechnology company’s stock valued at $10,814,000 after buying an additional 500 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in Blueprint Medicines in the first quarter valued at approximately $474,000. Finally, Sei Investments Co. boosted its stake in shares of Blueprint Medicines by 36.6% in the 1st quarter. Sei Investments Co. now owns 45,913 shares of the biotechnology company’s stock valued at $4,355,000 after purchasing an additional 12,311 shares in 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.