Blueprint Medicines (NASDAQ:BPMC) Given New $127.00 Price Target at Robert W. Baird

Blueprint Medicines (NASDAQ:BPMC) had its price target boosted by Robert W. Baird from $112.00 to $127.00 in a report released on Friday, Benzinga reports. Robert W. Baird currently has an outperform rating on the biotechnology company’s stock.

Several other research analysts also recently commented on the company. Leerink Partnrs raised Blueprint Medicines from an underperform rating to a market perform rating in a research note on Monday, May 6th. SVB Leerink raised Blueprint Medicines from an underperform rating to a market perform rating and lifted their target price for the company from $50.00 to $97.00 in a research note on Monday, May 6th. Stifel Nicolaus lifted their target price on Blueprint Medicines from $120.00 to $130.00 and gave the company a buy rating in a research note on Friday, April 26th. StockNews.com raised Blueprint Medicines from a sell rating to a hold rating in a research note on Friday, May 3rd. Finally, Piper Sandler lifted their target price on Blueprint Medicines from $78.00 to $104.00 and gave the company a neutral rating in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $120.00.

Blueprint Medicines Stock Performance

Shares of Blueprint Medicines stock traded down $2.69 during trading on Friday, hitting $94.03. 844,866 shares of the company’s stock traded hands, compared to its average volume of 725,523. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.76 and a quick ratio of 3.61. Blueprint Medicines has a 1 year low of $43.89 and a 1 year high of $121.90. The stock has a market capitalization of $5.89 billion, a P/E ratio of -20.11 and a beta of 0.63. The business has a 50-day simple moving average of $108.75 and a 200-day simple moving average of $97.33.

Blueprint Medicines (NASDAQ:BPMC) last posted its earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.49. Blueprint Medicines had a negative return on equity of 176.65% and a negative net margin of 56.64%. The company had revenue of $138.20 million for the quarter, compared to the consensus estimate of $104.02 million. During the same quarter in the prior year, the company earned ($2.19) earnings per share. Blueprint Medicines’s revenue was up 139.9% on a year-over-year basis. As a group, analysts forecast that Blueprint Medicines will post -4.67 EPS for the current year.

Insider Transactions at Blueprint Medicines

In related news, insider Debra Durso-Bumpus sold 74,034 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $104.19, for a total transaction of $7,713,602.46. Following the completion of the sale, the insider now directly owns 43,763 shares of the company’s stock, valued at approximately $4,559,666.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Debra Durso-Bumpus sold 74,034 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $104.19, for a total transaction of $7,713,602.46. Following the completion of the sale, the insider now directly owns 43,763 shares of the company’s stock, valued at approximately $4,559,666.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Percy H. Carter sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $105.13, for a total value of $420,520.00. Following the sale, the insider now directly owns 41,895 shares of the company’s stock, valued at $4,404,421.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 130,064 shares of company stock worth $13,716,726. 4.21% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Blueprint Medicines

Institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers raised its position in shares of Blueprint Medicines by 6.0% in the 2nd quarter. Rhumbline Advisers now owns 91,543 shares of the biotechnology company’s stock worth $9,866,000 after acquiring an additional 5,160 shares in the last quarter. nVerses Capital LLC raised its position in shares of Blueprint Medicines by 3,100.0% in the 2nd quarter. nVerses Capital LLC now owns 3,200 shares of the biotechnology company’s stock worth $345,000 after acquiring an additional 3,100 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Blueprint Medicines by 13.3% in the 2nd quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock worth $120,000 after acquiring an additional 131 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Blueprint Medicines in the 2nd quarter worth $381,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Blueprint Medicines by 8.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,792 shares of the biotechnology company’s stock worth $1,487,000 after acquiring an additional 1,064 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.