According to recent reports on Blueprint Medicines (BPMC), several brokerages have weighed in with their ratings and price targets for the company. HC Wainwright reiterated a “buy” rating and set a target price of $85.00 per share, while Morgan Stanley increased its target price from $55.00 to $59.00 and gave the stock an “equal weight” rating. Needham & Company also raised their price target to $66.00 and reaffirmed their “buy” rating.
However, StockNews.com recently assumed coverage on Blueprint Medicines, giving it a “sell” rating. JMP Securities, on the other hand, restated a “market outperform” rating and set a target price of $114.00.
Overall, three analysts have rated the stock as sell, three as hold, six as buy, and one as strongly buy. Based on Bloomberg.com data, Blueprint Medicines currently has an average rating of “hold” and an average target price of $75.21.
In related news, Director Jeffrey W. Albers sold 10,000 shares of Blueprint Medicines stock on August 25th at an average price of $50.16 per share, totaling $501,600. Following this transaction, Albers now holds 176,050 shares in the company with an approximate value of $8,830,668.
Shares of BPMC opened at $49.37 on Friday, maintaining a fifty-two week low of $37.82 and a high of $68.63. With a market capitalization of $3 billion and a PE ratio of -5.35 along with a beta of 0.74., Blueprint Medicines has demonstrated its stability in the market throughout the years.
It is worth noting that corporate insiders currently own 3.88% of the company’s stock.
In conclusion, despite mixed analyst opinions regarding Blueprint Medicines, it is evident that the company has seen significant activity and interest in recent months. With various price targets and ratings provided by industry professionals, investors should carefully assess their options before making any investment decisions.
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Blueprint Medicines Co. Expected to Exceed Earnings Estimates in Q1 2024, Recent Transactions by Director and Institutional Investors Revealed
In a recent report released by Zacks Research on Tuesday, September 19th, it was revealed that Blueprint Medicines Co. (NASDAQ:BPMC) is expected to exceed their earnings estimates for the first quarter of 2024. The biotechnology company is anticipated to post earnings per share of ($2.31) for the quarter, a slight improvement from their previous estimate of ($2.32).
This news comes amidst a consensus estimate for Blueprint Medicines’ current full-year earnings, which stands at ($9.06) per share. Additionally, Zacks Research also provided estimates for the company’s future quarterly earnings throughout 2024 and into 2025. Their projections include ($2.20) EPS in Q2 2024, ($2.00) EPS in Q3 2024, and ($1.80) EPS in Q4 2024, among others.
On another note, Director Jeffrey W. Albers recently sold 10,000 shares of Blueprint Medicines stock on Friday, August 25th. This transaction took place at an average price of $50.16 per share, resulting in a total value of $501,600. Following this sale, Albers now holds approximately 176,050 shares in the company with an estimated value of $8,830,668.
Moreover, it should be noted that hedge funds and other institutional investors have made changes to their positions in Blueprint Medicines recently. Price T Rowe Associates Inc., for instance, increased its stake in the biotechnology company by 15.1% during the first quarter and now owns over 4 million shares valued at $222,631,000.
Looking back at Blueprint Medicines’ previous earnings results from Wednesday August 2nd reveals that they reported ($2.19) earnings per share for the quarter, surpassing analysts’ consensus estimates by $0.39.This positive outcome can be attributed to the company’s revenue of $57.60 million during the quarter, which exceeded analyst estimates of $45.60 million. While Blueprint Medicines did experience negative return on equity and a negative net margin, their quarterly revenue showed an impressive increase of 57.8% compared to the same period last year.
In conclusion, Blueprint Medicines Co. is positioned for potential growth in their upcoming earnings reports based on projections by Zacks Research for the first quarter of 2024. However, it remains to be seen how well the biotechnology company will perform in relation to these estimates. Investors and analysts will continue to closely monitor Blueprint Medicines’ financial performance in order to gain a clearer understanding of its future prospects.
Source: September 22, 2023
