JPMorgan Chase & Co. Increases Blueprint Medicines (NASDAQ:BPMC) Price Target to $129.00

Blueprint Medicines (NASDAQ:BPMC) had its target price upped by investment analysts at JPMorgan Chase & Co. from $126.00 to $129.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the biotechnology company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 14.59% from the company’s previous close.

Several other research firms have also recently weighed in on BPMC. JMP Securities restated a “market outperform” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a research report on Wednesday, January 15th. HC Wainwright reaffirmed a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a research note on Friday, November 15th. Wells Fargo & Company dropped their price target on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. UBS Group began coverage on Blueprint Medicines in a research report on Thursday, October 24th. They set a “neutral” rating and a $88.00 price target on the stock. Finally, StockNews.com raised shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $123.72.

Blueprint Medicines Price Performance

BPMC stock traded up $1.08 during trading on Tuesday, hitting $112.58. 59,279 shares of the stock traded hands, compared to its average volume of 870,902. 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 has a market cap of $7.15 billion, a price-to-earnings ratio of -53.36 and a beta of 0.61. Blueprint Medicines has a one year low of $72.24 and a one year high of $121.90. The company has a 50 day simple moving average of $98.13 and a 200 day simple moving average of $95.03.

Insider Buying and Selling

In related news, Director Jeffrey W. Albers sold 15,161 shares of Blueprint Medicines stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 152,396 shares in the company, valued at approximately $16,691,933.88. The trade was a 9.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Christina Rossi sold 2,274 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $95.10, for a total transaction of $216,257.40. Following the sale, the chief operating officer now directly owns 71,657 shares in the company, valued at $6,814,580.70. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,851 shares of company stock valued at $4,984,696. 4.21% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Pallas Capital Advisors LLC lifted its position in Blueprint Medicines by 3.2% during the third quarter. Pallas Capital Advisors LLC now owns 5,657 shares of the biotechnology company’s stock valued at $523,000 after buying an additional 176 shares during the period. Clarus Wealth Advisors increased its stake in Blueprint Medicines by 8.6% during the 3rd quarter. Clarus Wealth Advisors now owns 2,590 shares of the biotechnology company’s stock valued at $231,000 after purchasing an additional 206 shares in the last quarter. Franklin Resources Inc. raised its holdings in Blueprint Medicines by 0.7% in the third quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company’s stock worth $3,259,000 after buying an additional 265 shares during the last quarter. Quarry LP bought a new stake in shares of Blueprint Medicines during the third quarter valued at approximately $32,000. Finally, Van ECK Associates Corp increased its position in shares of Blueprint Medicines by 48.2% during the fourth quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $97,000 after acquiring an additional 363 shares in the last quarter.

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.