Blueprint Medicines (BPMC) Trading Up 6.9%

Blueprint Medicines Corp (NASDAQ:BPMC) was up 6.9% on Wednesday . The company traded as high as $92.50 and last traded at $87.49. Approximately 639,901 shares changed hands during trading, an increase of 94% from the average daily volume of 329,946 shares. The stock had previously closed at $81.84.

A number of equities research analysts have weighed in on BPMC shares. Cowen reissued a “buy” rating on shares of Blueprint Medicines in a report on Tuesday, October 31st. Canaccord Genuity reissued a “buy” rating and set a $80.00 target price (up from $66.00) on shares of Blueprint Medicines in a report on Wednesday, November 1st. Zacks Investment Research lowered shares of Blueprint Medicines from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. Wedbush reissued an “outperform” rating and set a $82.00 target price (up from $70.00) on shares of Blueprint Medicines in a report on Monday, November 6th. Finally, ValuEngine lowered shares of Blueprint Medicines from a “hold” rating to a “sell” rating in a report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $84.20.

The stock has a market capitalization of $3,750.00 and a PE ratio of -25.58. The company has a quick ratio of 11.28, a current ratio of 11.28 and a debt-to-equity ratio of 0.02.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Wednesday, February 21st. The biotechnology company reported ($1.23) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.07) by ($0.16). The firm had revenue of $1.63 million during the quarter, compared to analyst estimates of $5.28 million. Blueprint Medicines had a negative return on equity of 43.11% and a negative net margin of 437.83%. The firm’s revenue for the quarter was down 78.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.75) EPS. sell-side analysts forecast that Blueprint Medicines Corp will post -3.75 earnings per share for the current year.

In related news, insider Kate Haviland sold 6,775 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $74.93, for a total transaction of $507,650.75. Following the transaction, the insider now owns 12,649 shares in the company, valued at approximately $947,789.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel Lynch sold 17,500 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $74.84, for a total transaction of $1,309,700.00. Following the transaction, the director now owns 202,812 shares in the company, valued at approximately $15,178,450.08. The disclosure for this sale can be found here. Insiders sold a total of 36,775 shares of company stock worth $2,822,601 in the last 90 days. Corporate insiders own 3.40% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN lifted its position in shares of Blueprint Medicines by 31.5% during the 2nd quarter. Wells Fargo & Company MN now owns 28,827 shares of the biotechnology company’s stock valued at $1,462,000 after acquiring an additional 6,899 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of Blueprint Medicines during the 3rd quarter valued at $6,967,000. California Public Employees Retirement System acquired a new position in shares of Blueprint Medicines during the 2nd quarter valued at $314,000. Ameriprise Financial Inc. acquired a new position in shares of Blueprint Medicines during the 3rd quarter valued at $3,779,000. Finally, California State Teachers Retirement System lifted its position in shares of Blueprint Medicines by 43.9% during the 2nd quarter. California State Teachers Retirement System now owns 68,861 shares of the biotechnology company’s stock valued at $3,489,000 after acquiring an additional 20,999 shares during the period. Institutional investors own 89.28% of the company’s stock.

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Blueprint Medicines Company Profile

Blueprint Medicines Corporation is a biopharmaceutical company. The Company focuses on patients with genomically defined diseases driven by abnormal kinase activation. It focuses on crafting drug candidates that provide clinical responses to patients without adequate treatment options. It has developed a small molecule drug pipeline in cancer and a genetic disease.

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