Goldman Sachs Group Boosts Blueprint Medicines (BPMC) Price Target to $99.00

Blueprint Medicines (NASDAQ:BPMC) had its price target raised by Goldman Sachs Group from $82.00 to $99.00 in a research report released on Monday, MarketBeat Ratings reports. They currently have a buy rating on the biotechnology company’s stock.

BPMC has been the topic of several other research reports. Zacks Investment Research lowered Blueprint Medicines from a hold rating to a sell rating in a research note on Thursday, November 2nd. Canaccord Genuity reissued a buy rating and set a $56.00 price target on shares of Blueprint Medicines in a research note on Monday, September 11th. Wedbush reissued an outperform rating and set a $82.00 price target (up previously from $70.00) on shares of Blueprint Medicines in a research note on Monday, November 6th. DA Davidson initiated coverage on Blueprint Medicines in a research note on Friday, September 29th. They set a buy rating and a $90.00 price target on the stock. Finally, BidaskClub lowered Blueprint Medicines from a strong-buy rating to a buy rating in a research note on Saturday, August 19th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $83.78.

Shares of Blueprint Medicines (BPMC) opened at $82.16 on Monday. Blueprint Medicines has a twelve month low of $25.34 and a twelve month high of $92.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 11.28 and a quick ratio of 11.28.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported ($0.96) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.90) by ($0.06). Blueprint Medicines had a negative net margin of 437.83% and a negative return on equity of 43.11%. The business had revenue of $8.07 million during the quarter, compared to analysts’ expectations of $5.35 million. During the same period in the prior year, the firm posted ($0.62) EPS. Blueprint Medicines’s revenue for the quarter was up 31.0% compared to the same quarter last year. sell-side analysts predict that Blueprint Medicines will post -3.76 EPS for the current year.

In related news, insider Marion Dorsch sold 18,334 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $65.45, for a total value of $1,199,960.30. Following the sale, the insider now owns 18,334 shares of the company’s stock, valued at approximately $1,199,960.30. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Daniel Lynch sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $63.38, for a total value of $316,900.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,639 shares of company stock worth $4,871,743. 3.40% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of BPMC. Rockefeller Financial Services Inc. purchased a new stake in Blueprint Medicines in the 3rd quarter valued at approximately $160,000. Ameritas Investment Partners Inc. lifted its stake in Blueprint Medicines by 68.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,410 shares of the biotechnology company’s stock valued at $173,000 after buying an additional 1,391 shares in the last quarter. Fred Alger Management Inc. purchased a new stake in Blueprint Medicines in the 2nd quarter valued at approximately $203,000. SG Americas Securities LLC lifted its stake in Blueprint Medicines by 23.3% in the 2nd quarter. SG Americas Securities LLC now owns 4,113 shares of the biotechnology company’s stock valued at $208,000 after buying an additional 778 shares in the last quarter. Finally, Turner Investments LLC purchased a new stake in Blueprint Medicines in the 3rd quarter valued at approximately $209,000. 91.40% of the stock is currently owned by hedge funds and other institutional investors.

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Blueprint Medicines Company Profile

Blueprint Medicines Corporation is a biopharmaceutical company. The Company focuses on patients with genomically defined diseases driven by abnormal kinase activation. It focuses on crafting drug candidates that provide clinical responses to patients without adequate treatment options. It has developed a small molecule drug pipeline in cancer and a genetic disease.

Analyst Recommendations for Blueprint Medicines (NASDAQ:BPMC)

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