Citigroup Raises Blueprint Medicines (NASDAQ:BPMC) Price Target to $76.00

Blueprint Medicines (NASDAQ:BPMC) had its target price hoisted by equities researchers at Citigroup from $65.00 to $76.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “sell” rating on the biotechnology company’s stock. Citigroup’s target price suggests a potential downside of 29.10% from the stock’s previous close.

BPMC has been the topic of a number of other research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $97.00 target price on shares of Blueprint Medicines in a research report on Thursday. JMP Securities lifted their price target on shares of Blueprint Medicines from $114.00 to $125.00 and gave the stock a “market outperform” rating in a research report on Friday. Piper Sandler increased their target price on shares of Blueprint Medicines from $78.00 to $104.00 and gave the stock a “neutral” rating in a report on Friday. Barclays increased their price objective on Blueprint Medicines from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Stifel Nicolaus lifted their price objective on shares of Blueprint Medicines from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Four analysts have rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $94.87.

Blueprint Medicines Trading Up 0.2 %

Blueprint Medicines stock traded up $0.19 during midday trading on Friday, reaching $107.19. The stock had a trading volume of 991,766 shares, compared to its average volume of 778,131. The firm’s fifty day simple moving average is $91.42 and its two-hundred day simple moving average is $80.11. The firm has a market cap of $6.56 billion, a price-to-earnings ratio of -12.82 and a beta of 0.65. The company has a debt-to-equity ratio of 1.60, a current ratio of 3.76 and a quick ratio of 3.66. Blueprint Medicines has a twelve month low of $43.89 and a twelve month high of $110.93.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, beating the consensus estimate of ($2.04) by $0.22. Blueprint Medicines had a negative net margin of 203.30% and a negative return on equity of 191.56%. The firm had revenue of $71.96 million for the quarter, compared to analyst estimates of $67.34 million. During the same quarter last year, the firm earned ($2.65) earnings per share. The company’s revenue for the quarter was up 85.5% on a year-over-year basis. Equities analysts anticipate that Blueprint Medicines will post -5.41 EPS for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, insider Christopher K. Murray sold 621 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $93.65, for a total transaction of $58,156.65. Following the sale, the insider now directly owns 36,374 shares of the company’s stock, valued at $3,406,425.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Christopher K. Murray sold 621 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $93.65, for a total transaction of $58,156.65. Following the transaction, the insider now owns 36,374 shares of the company’s stock, valued at approximately $3,406,425.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael Landsittel sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $95.00, for a total value of $475,000.00. Following the sale, the chief financial officer now directly owns 47,286 shares in the company, valued at approximately $4,492,170. The disclosure for this sale can be found here. Insiders sold a total of 92,289 shares of company stock valued at $8,314,163 in the last three months. 3.88% of the stock is currently owned by corporate insiders.

Institutional Trading of Blueprint Medicines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Compass Wealth Management LLC acquired a new stake in Blueprint Medicines in the 4th quarter valued at about $69,000. PNC Financial Services Group Inc. grew its stake in shares of Blueprint Medicines by 63.4% during the third quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock worth $43,000 after purchasing an additional 329 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Blueprint Medicines by 28.4% during the 4th quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock worth $80,000 after acquiring an additional 193 shares in the last quarter. Cutler Group LLC CA boosted its holdings in shares of Blueprint Medicines by 1,685.7% in the 3rd quarter. Cutler Group LLC CA now owns 1,000 shares of the biotechnology company’s stock valued at $50,000 after buying an additional 944 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Blueprint Medicines in the 4th quarter valued at about $95,000.

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.