The Goldman Sachs Group Raises Blueprint Medicines (NASDAQ:BPMC) Price Target to $168.00

Blueprint Medicines (NASDAQ:BPMC) had its target price hoisted by The Goldman Sachs Group from $121.00 to $168.00 in a report released on Monday, Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock.

Other analysts also recently issued research reports about the company. Barclays upped their price target on Blueprint Medicines from $70.00 to $75.00 and gave the stock an equal weight rating in a research note on Friday, May 3rd. Citigroup increased their price target on Blueprint Medicines from $65.00 to $76.00 and gave the company a sell rating in a report on Friday, May 3rd. HC Wainwright boosted their price objective on shares of Blueprint Medicines from $125.00 to $135.00 and gave the stock a buy rating in a research note on Friday, May 3rd. Stifel Nicolaus upped their price objective on shares of Blueprint Medicines from $120.00 to $130.00 and gave the stock a buy rating in a report on Friday, April 26th. Finally, JMP Securities lifted their target price on shares of Blueprint Medicines from $114.00 to $125.00 and gave the stock a market outperform rating in a report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $100.31.

Blueprint Medicines Price Performance

NASDAQ BPMC opened at $108.78 on Monday. The company has a 50 day moving average price of $92.44 and a two-hundred day moving average price of $82.00. Blueprint Medicines has a 12-month low of $43.89 and a 12-month high of $110.93. The stock has a market capitalization of $6.66 billion, a PE ratio of -22.62 and a beta of 0.65. The company has a quick ratio of 3.61, a current ratio of 3.76 and a debt-to-equity ratio of 0.67.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.04) by $0.22. The business had revenue of $71.96 million during the quarter, compared to analyst estimates of $67.34 million. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 193.48%. Blueprint Medicines’s quarterly revenue was up 85.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($2.65) EPS. As a group, equities analysts predict that Blueprint Medicines will post -5.38 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jeffrey W. Albers sold 25,073 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $87.28, for a total value of $2,188,371.44. Following the completion of the transaction, the director now directly owns 176,050 shares of the company’s stock, valued at $15,365,644. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Jeffrey W. Albers sold 25,073 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $87.28, for a total value of $2,188,371.44. Following the completion of the transaction, the director now owns 176,050 shares of the company’s stock, valued at $15,365,644. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Tracey L. Mccain sold 5,194 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $90.69, for a total transaction of $471,043.86. Following the transaction, the executive vice president now owns 60,498 shares of the company’s stock, valued at approximately $5,486,563.62. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,123 shares of company stock worth $9,554,679. Company insiders own 3.88% of the company’s stock.

Institutional Trading of Blueprint Medicines

A number of large investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Blueprint Medicines by 0.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,414 shares of the biotechnology company’s stock valued at $3,451,000 after purchasing an additional 145 shares in the last quarter. US Bancorp DE lifted its holdings in Blueprint Medicines by 5.2% during the 1st quarter. US Bancorp DE now owns 3,724 shares of the biotechnology company’s stock valued at $353,000 after purchasing an additional 183 shares during the last quarter. Van ECK Associates Corp boosted its position in Blueprint Medicines by 28.4% in the fourth quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock valued at $80,000 after buying an additional 193 shares in the last quarter. Principal Financial Group Inc. grew its stake in Blueprint Medicines by 1.7% during the fourth quarter. Principal Financial Group Inc. now owns 14,510 shares of the biotechnology company’s stock worth $1,338,000 after buying an additional 247 shares during the last quarter. Finally, Diversified Trust Co increased its holdings in shares of Blueprint Medicines by 2.9% during the third quarter. Diversified Trust Co now owns 11,219 shares of the biotechnology company’s stock worth $563,000 after buying an additional 318 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.