Analysts at JPMorgan Chase & Co. assumed coverage on shares of Blueprint Medicines (NASDAQ:BPMC - Get Free Report) in a report released on Thursday,Briefing.com Automated Import reports. The firm set an "overweight" rating and a $126.00 price target on the biotechnology company's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 30.06% from the company's previous close.
Several other equities analysts have also weighed in on BPMC. HC Wainwright reaffirmed a "buy" rating and set a $135.00 price objective on shares of Blueprint Medicines in a research report on Thursday, October 31st. Needham & Company LLC restated a "buy" rating and set a $133.00 price target on shares of Blueprint Medicines in a report on Wednesday, October 30th. Guggenheim upped their price objective on shares of Blueprint Medicines from $130.00 to $138.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Barclays raised their target price on Blueprint Medicines from $75.00 to $105.00 and gave the company an "equal weight" rating in a report on Monday, July 29th. Finally, Wells Fargo & Company decreased 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 research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $120.68.
Read Our Latest Stock Analysis on Blueprint Medicines
Shares of NASDAQ:BPMC opened at $96.88 on Thursday. The firm has a fifty day moving average of $89.46 and a two-hundred day moving average of $98.91. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09. Blueprint Medicines has a 12-month low of $61.10 and a 12-month high of $121.90. The firm has a market capitalization of $6.15 billion, a P/E ratio of -45.91 and a beta of 0.59.
Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, beating analysts' consensus estimates of ($0.97) by $0.08. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The firm had revenue of $128.20 million for the quarter, compared to the consensus estimate of $127.56 million. During the same quarter in the previous year, the company posted ($2.20) earnings per share. The business's quarterly revenue was up 126.5% compared to the same quarter last year. On average, equities analysts expect that Blueprint Medicines will post -3.61 EPS for the current fiscal year.
In related news, insider Fouad Namouni sold 3,633 shares of the 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 completion of the sale, the insider now owns 69,070 shares in the company, valued at approximately $6,169,332.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.21% of the company's stock.
A number of hedge funds have recently modified their holdings of BPMC. Allspring Global Investments Holdings LLC acquired a new position in shares of Blueprint Medicines in the first quarter valued at $218,000. SG Americas Securities LLC raised its stake in shares of Blueprint Medicines by 117.6% in the 1st quarter. SG Americas Securities LLC now owns 11,865 shares of the biotechnology company's stock valued at $1,126,000 after buying an additional 6,412 shares in the last quarter. Swiss National Bank raised its stake in shares of Blueprint Medicines by 0.4% in the 1st 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 in the last quarter. Sei Investments Co. boosted its position in shares of Blueprint Medicines by 36.6% during the 1st quarter. Sei Investments Co. now owns 45,913 shares of the biotechnology company's stock valued at $4,355,000 after acquiring an additional 12,311 shares in the last quarter. Finally, Headlands Technologies LLC increased its stake in Blueprint Medicines by 105.2% in the first quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company's stock valued at $63,000 after acquiring an additional 342 shares during the period.
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.
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