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

Blueprint Medicines (NASDAQ:BPMC) had its price target increased by equities researchers at JPMorgan Chase & Co. from $126.00 to $129.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the biotechnology company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 14.59% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. UBS Group started coverage on shares of Blueprint Medicines in a research report on Thursday, October 24th. They issued a “neutral” rating and a $88.00 price objective for the company. Guggenheim reiterated a “buy” rating on shares of Blueprint Medicines in a report on Wednesday, December 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research note on Monday, January 13th. Wedbush reiterated an “outperform” rating and set a $124.00 price objective (down from $135.00) on shares of Blueprint Medicines in a research note on Monday, January 13th. Finally, Stephens restated an “overweight” rating and issued a $140.00 target price on shares of Blueprint Medicines in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $123.72.

Blueprint Medicines Trading Up 1.0 %

Shares of Blueprint Medicines stock traded up $1.08 on Tuesday, reaching $112.58. The company had a trading volume of 59,279 shares, compared to its average volume of 870,902. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. The firm’s 50-day moving average price is $98.13 and its two-hundred day moving average price is $95.03. The firm 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 1 year low of $72.24 and a 1 year high of $121.90.

Insider Buying and Selling

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

Hedge Funds Weigh In On Blueprint Medicines

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in 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 purchasing an additional 729,055 shares during the last quarter. State Street Corp lifted its holdings in Blueprint Medicines by 16.2% during the 3rd quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock worth $255,827,000 after buying an additional 385,818 shares during the last quarter. Jennison Associates LLC acquired a new position in Blueprint Medicines in the fourth quarter valued at approximately $31,417,000. Jacobs Levy Equity Management Inc. lifted its position in 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 last quarter. Finally, Eventide Asset Management LLC lifted its position in Blueprint Medicines by 50.5% in the 3rd quarter. Eventide Asset Management LLC now owns 348,704 shares of the biotechnology company’s stock valued at $32,255,000 after purchasing an additional 117,019 shares during 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.