Blueprint Medicines (NASDAQ:BPMC) Price Target Cut to $109.00 by Analysts at Morgan Stanley

Blueprint Medicines (NASDAQ:BPMC) had its target price cut by Morgan Stanley from $110.00 to $109.00 in a research note issued to investors on Friday morning, BenzingaRatingsTable reports. They currently have an overweight rating on the biotechnology company’s stock.

Several other research analysts also recently issued reports on BPMC. Canaccord Genuity upped their price objective on Blueprint Medicines from $105.00 to $120.00 and gave the company a buy rating in a research note on Friday, August 2nd. Raymond James raised Blueprint Medicines from a market perform rating to an outperform rating in a research note on Thursday, September 12th. Cowen reaffirmed a buy rating on shares of Blueprint Medicines in a research note on Monday, September 30th. ValuEngine downgraded shares of Blueprint Medicines from a strong-buy rating to a buy rating in a research report on Wednesday, October 2nd. Finally, Robert W. Baird initiated coverage on shares of Blueprint Medicines in a research report on Thursday, July 18th. They set an outperform rating and a $120.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $107.33.

Shares of Blueprint Medicines stock traded up $1.73 on Friday, hitting $73.67. The stock had a trading volume of 175,036 shares, compared to its average volume of 387,480. The stock has a 50 day moving average of $76.38 and a 200 day moving average of $83.86. Blueprint Medicines has a twelve month low of $44.58 and a twelve month high of $102.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.52 and a current ratio of 7.52. The firm has a market capitalization of $3.53 billion, a P/E ratio of -13.67 and a beta of 1.63.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($2.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.92) by ($0.12). Blueprint Medicines had a negative net margin of 4,268.74% and a negative return on equity of 73.73%. The firm had revenue of $5.11 million during the quarter, compared to analyst estimates of $1.39 million. During the same period in the prior year, the company earned ($0.62) EPS. The business’s quarterly revenue was down 87.7% compared to the same quarter last year. Equities analysts expect that Blueprint Medicines will post -8.52 earnings per share for the current year.

In other Blueprint Medicines news, insider Ariel Hurley sold 415 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $78.14, for a total transaction of $32,428.10. Following the transaction, the insider now directly owns 415 shares in the company, valued at approximately $32,428.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Anthony L. Boral sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $80.07, for a total value of $800,700.00. Following the transaction, the insider now owns 1,300 shares in the company, valued at $104,091. The disclosure for this sale can be found here. Insiders have sold a total of 43,441 shares of company stock valued at $3,574,988 in the last three months. Insiders own 4.02% of the company’s stock.

Several institutional investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. lifted its holdings in shares of Blueprint Medicines by 4,594.1% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 798 shares of the biotechnology company’s stock worth $75,000 after purchasing an additional 781 shares in the last quarter. Whittier Trust Co. bought a new position in shares of Blueprint Medicines in the 2nd quarter worth $97,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Blueprint Medicines by 62.8% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,097 shares of the biotechnology company’s stock worth $104,000 after purchasing an additional 423 shares in the last quarter. Trexquant Investment LP bought a new position in shares of Blueprint Medicines in the 2nd quarter worth $203,000. Finally, Flinton Capital Management LLC bought a new position in shares of Blueprint Medicines in the 2nd quarter worth $211,000. Hedge funds and other institutional investors own 99.29% of the company’s stock.

Blueprint Medicines Company Profile

Blueprint Medicines Corporation develops drugs of small molecule kinase inhibitors that target genomic drivers in various cancers and a rare genetic disease. Its lead drug candidates include avapritinib, which completed Phase I clinical trials that targets PDGFRA Exon 18 mutant GIST and KIT-driven GIST; and BLU-554, which is in Phase I clinical trials an orally available, potent, and irreversible inhibitor of the kinase FGFR4 that is activated in a defined subset of patients with hepatocellular carcinoma.

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Analyst Recommendations for Blueprint Medicines (NASDAQ:BPMC)

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