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.
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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.
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