Blueprint Medicines (NASDAQ:BPMC) Price Target Lowered to $151.00 at Wells Fargo & Company

Blueprint Medicines (NASDAQ:BPMC) had its price objective decreased by investment analysts at Wells Fargo & Company from $153.00 to $151.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the biotechnology company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 69.55% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Needham & Company LLC restated a “buy” rating and issued a $133.00 target price on shares of Blueprint Medicines in a research note on Wednesday. Morgan Stanley raised their price objective on Blueprint Medicines from $110.00 to $115.00 and gave the company an “equal weight” rating in a research report on Friday, July 12th. Robert W. Baird upped their target price on shares of Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Guggenheim increased their price target on shares of Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, HC Wainwright reissued a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a research note on Thursday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Blueprint Medicines has a consensus rating of “Moderate Buy” and an average price target of $120.39.

Blueprint Medicines Trading Down 0.2 %

BPMC traded down $0.18 on Thursday, hitting $89.06. 408,726 shares of the company were exchanged, compared to its average volume of 692,878. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.65 and a current ratio of 3.71. Blueprint Medicines has a 12 month low of $53.73 and a 12 month high of $121.90. The firm has a fifty day simple moving average of $88.98 and a two-hundred day simple moving average of $98.43. The stock has a market capitalization of $5.58 billion, a PE ratio of -18.43 and a beta of 0.58.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.08. The firm had revenue of $128.20 million for the quarter, compared to analyst estimates of $127.56 million. Blueprint Medicines had a negative return on equity of 157.30% and a negative net margin of 56.64%. The business’s quarterly revenue was up 126.5% compared to the same quarter last year. During the same period last year, the company earned ($2.20) EPS. Sell-side analysts expect that Blueprint Medicines will post -3.99 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Fouad Namouni sold 3,633 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total transaction of $324,499.56. Following the sale, the insider now owns 69,070 shares of the company’s stock, valued at $6,169,332.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Blueprint Medicines news, insider Philina Lee sold 41,913 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $93.19, for a total value of $3,905,872.47. Following the transaction, the insider now owns 34,729 shares of the company’s stock, valued at approximately $3,236,395.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Fouad Namouni sold 3,633 shares of the business’s 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 sale, the insider now owns 69,070 shares of the company’s stock, valued at approximately $6,169,332.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.21% of the stock is owned by insiders.

Institutional Trading of Blueprint Medicines

Large investors have recently added to or reduced their stakes in the business. Amalgamated Bank raised its position in Blueprint Medicines by 5.3% in the second quarter. Amalgamated Bank now owns 2,154 shares of the biotechnology company’s stock worth $232,000 after acquiring an additional 109 shares during the period. Van ECK Associates Corp increased its position in Blueprint Medicines by 13.3% in the second quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock worth $120,000 after buying an additional 131 shares in the last quarter. EFG Asset Management North America Corp. increased its position in Blueprint Medicines by 0.5% in the second quarter. EFG Asset Management North America Corp. now owns 27,884 shares of the biotechnology company’s stock worth $3,008,000 after buying an additional 132 shares in the last quarter. Pallas Capital Advisors LLC raised its stake in shares of Blueprint Medicines by 3.2% in the third quarter. Pallas Capital Advisors LLC now owns 5,657 shares of the biotechnology company’s stock worth $523,000 after buying an additional 176 shares during the period. Finally, US Bancorp DE lifted its position in shares of 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 buying an additional 183 shares in 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.