Blueprint Medicines (NASDAQ:BPMC) Price Target Raised to $129.00

Blueprint Medicines (NASDAQ:BPMC) had its price objective raised by JPMorgan Chase & Co. from $126.00 to $129.00 in a research note released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the biotechnology company’s stock.

Several other brokerages have also commented on BPMC. HC Wainwright reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research report on Friday, November 15th. Wedbush reaffirmed an “outperform” rating and issued a $124.00 price target (down previously from $135.00) on shares of Blueprint Medicines in a report on Monday, January 13th. Needham & Company LLC reissued a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a report on Monday, January 13th. JMP Securities restated a “market outperform” rating and issued a $125.00 target price on shares of Blueprint Medicines in a research note on Wednesday, January 15th. Finally, Wells Fargo & Company cut their price target on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $123.72.

Blueprint Medicines Trading Down 0.7 %

Shares of Blueprint Medicines stock opened at $109.62 on Tuesday. The firm has a market cap of $6.96 billion, a PE ratio of -51.95 and a beta of 0.62. Blueprint Medicines has a 1 year low of $72.24 and a 1 year high of $121.90. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. The stock has a fifty day moving average price of $99.11 and a 200-day moving average price of $95.23.

Insider Activity

In related news, Director Jeffrey W. Albers sold 15,161 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $109.53, for a total value of $1,660,584.33. Following the completion of the sale, the director now owns 152,396 shares in the company, valued at $16,691,933.88. The trade was a 9.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kate Haviland sold 1,446 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total value of $159,407.04. Following the completion of the sale, the chief executive officer now directly owns 149,378 shares of the company’s stock, valued at approximately $16,467,430.72. This represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,851 shares of company stock worth $4,984,696 in the last three months. Corporate insiders own 4.21% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

Institutional investors have recently made changes to their positions in the business. Creative Planning lifted its stake in Blueprint Medicines by 27.1% in the second quarter. Creative Planning now owns 12,351 shares of the biotechnology company’s stock worth $1,331,000 after purchasing an additional 2,636 shares during the last quarter. CWM LLC lifted its stake in shares of Blueprint Medicines by 69.2% in the 3rd quarter. CWM LLC now owns 1,870 shares of the biotechnology company’s stock valued at $173,000 after acquiring an additional 765 shares during the last quarter. Clarus Wealth Advisors boosted its holdings in Blueprint Medicines by 8.6% during the 3rd quarter. Clarus Wealth Advisors now owns 2,590 shares of the biotechnology company’s stock valued at $231,000 after acquiring an additional 206 shares during the period. Essex Investment Management Co. LLC purchased a new stake in shares of Blueprint Medicines during the third quarter valued at approximately $3,280,000. Finally, NBC Securities Inc. raised its stake in shares of Blueprint Medicines by 748.9% during the third quarter. NBC Securities Inc. now owns 2,725 shares of the biotechnology company’s stock valued at $252,000 after acquiring an additional 2,404 shares during the last quarter.

Blueprint Medicines Company Profile

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.