Blueprint Medicines (NASDAQ:BPMC) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Blueprint Medicines (NASDAQ:BPMC) had its target price lifted by equities research analysts at JPMorgan Chase & Co. from $126.00 to $129.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the biotechnology company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 16.88% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Needham & Company LLC reiterated a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a research note on Monday, January 13th. HC Wainwright reissued a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research note on Friday, November 15th. StockNews.com raised Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Wells Fargo & Company lowered their target price on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Finally, Piper Sandler lifted their price target on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.72.

Blueprint Medicines Price Performance

BPMC opened at $110.37 on Tuesday. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of -52.31 and a beta of 0.61. Blueprint Medicines has a 12-month low of $72.24 and a 12-month high of $121.90. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09. The stock’s 50-day moving average price is $98.82 and its 200 day moving average price is $95.13.

Insider Buying and Selling

In related news, CEO Kate Haviland sold 2,353 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $96.60, for a total value of $227,299.80. Following the completion of the transaction, the chief executive officer now directly owns 150,824 shares of the company’s stock, valued at $14,569,598.40. This represents a 1.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey W. Albers sold 15,161 shares of Blueprint Medicines stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $109.53, for a total value of $1,660,584.33. Following the sale, the director now directly owns 152,396 shares in the company, valued at $16,691,933.88. The trade was a 9.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,851 shares of company stock valued at $4,984,696 in the last quarter. Company insiders own 4.21% of the company’s stock.

Institutional Trading of Blueprint Medicines

Several institutional investors have recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in shares of Blueprint Medicines by 22.5% in the third quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company’s stock valued at $366,726,000 after buying an additional 729,055 shares in the last quarter. State Street Corp grew its holdings in shares of Blueprint Medicines by 16.2% in the 3rd quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock worth $255,827,000 after acquiring an additional 385,818 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Blueprint Medicines by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,480,187 shares of the biotechnology company’s stock worth $136,942,000 after purchasing an additional 20,703 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Blueprint Medicines by 9.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 597,232 shares of the biotechnology company’s stock valued at $55,244,000 after purchasing an additional 50,736 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Blueprint Medicines by 161.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 496,087 shares of the biotechnology company’s stock valued at $45,888,000 after purchasing an additional 306,079 shares during the period.

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.