Blueprint Medicines (BPMC) Issues Earnings Results

Blueprint Medicines (NASDAQ:BPMC) released its quarterly earnings data on Thursday. The biotechnology company reported ($1.98) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.83) by ($0.15), MarketWatch Earnings reports. The company had revenue of $0.73 million for the quarter, compared to analyst estimates of $1.38 million. Blueprint Medicines had a negative return on equity of 54.92% and a negative net margin of 603.88%. The business’s quarterly revenue was down 23.2% on a year-over-year basis. During the same period last year, the firm posted ($1.29) EPS.

Shares of Blueprint Medicines stock opened at $83.66 on Friday. Blueprint Medicines has a 52 week low of $44.58 and a 52 week high of $89.00. The firm has a market capitalization of $4.02 billion, a PE ratio of -15.52 and a beta of 1.53. The company has a current ratio of 8.29, a quick ratio of 8.29 and a debt-to-equity ratio of 0.03.

A number of research firms have weighed in on BPMC. ValuEngine raised Blueprint Medicines from a “buy” rating to a “strong-buy” rating in a research note on Friday. Zacks Investment Research raised Blueprint Medicines from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research note on Tuesday, April 30th. BidaskClub lowered Blueprint Medicines from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 16th. Morgan Stanley began coverage on Blueprint Medicines in a research note on Wednesday, April 3rd. They set an “overweight” rating and a $112.00 price objective on the stock. Finally, Cowen reissued a “buy” rating on shares of Blueprint Medicines in a research note on Thursday, March 28th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $102.17.

In other news, insider Marion Dorsch sold 2,300 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $84.66, for a total value of $194,718.00. Following the transaction, the insider now owns 2,300 shares of the company’s stock, valued at approximately $194,718. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Kate Haviland sold 21,644 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $85.05, for a total value of $1,840,822.20. Following the completion of the transaction, the chief operating officer now directly owns 20,018 shares in the company, valued at approximately $1,702,530.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,359 shares of company stock worth $3,798,843. Corporate insiders own 3.15% of the company’s stock.

Several institutional investors have recently made changes to their positions in BPMC. Hillhouse Capital Advisors Ltd. acquired a new position in shares of Blueprint Medicines in the 4th quarter valued at $77,142,000. Norges Bank acquired a new position in shares of Blueprint Medicines in the 4th quarter valued at $42,705,000. Foresite Capital Management III LLC lifted its stake in shares of Blueprint Medicines by 133.8% in the 4th quarter. Foresite Capital Management III LLC now owns 467,682 shares of the biotechnology company’s stock valued at $25,213,000 after purchasing an additional 267,682 shares during the last quarter. Laurion Capital Management LP acquired a new position in shares of Blueprint Medicines in the 1st quarter valued at $20,966,000. Finally, American Century Companies Inc. lifted its stake in shares of Blueprint Medicines by 220.6% in the 4th quarter. American Century Companies Inc. now owns 271,560 shares of the biotechnology company’s stock valued at $14,640,000 after purchasing an additional 186,852 shares during the last quarter. 93.69% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY WARNING: This story was originally reported by Transcript Daily and is owned by of Transcript Daily. If you are accessing this story on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark legislation. The original version of this story can be read at https://transcriptdaily.com/2019/05/11/blueprint-medicines-bpmc-issues-earnings-results.html.

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.

Featured Article: What are popular range trading strategies?

Earnings History for Blueprint Medicines (NASDAQ:BPMC)

Receive News & Ratings for Blueprint Medicines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blueprint Medicines and related companies with MarketBeat.com's FREE daily email newsletter.