Blueprint Medicines Corp (NASDAQ:BPMC)’s share price rose 5.4% during mid-day trading on Wednesday . The company traded as high as $76.97 and last traded at $76.82, approximately 418,420 shares changed hands during trading. A decline of 9% from the average daily volume of 461,936 shares. The stock had previously closed at $72.90.
Several equities analysts recently issued reports on BPMC shares. BidaskClub downgraded shares of Blueprint Medicines from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. Raymond James restated a “market perform” rating on shares of Blueprint Medicines in a research report on Wednesday, August 14th. Canaccord Genuity upped their price objective on shares of Blueprint Medicines from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Deutsche Bank initiated coverage on shares of Blueprint Medicines in a report on Thursday, July 18th. They set a “buy” rating and a $110.00 price objective for the company. Finally, Robert W. Baird initiated coverage on shares of Blueprint Medicines in a research note on Thursday, July 18th. They issued an “outperform” rating and a $120.00 target price for the company. Two analysts have rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Blueprint Medicines currently has a consensus rating of “Buy” and a consensus price target of $107.60.
The stock has a fifty day moving average of $84.83 and a 200-day moving average of $84.70. The firm has a market capitalization of $3.59 billion, a P/E ratio of -14.25 and a beta of 1.64. The company has a quick ratio of 7.52, a current ratio of 7.52 and a debt-to-equity ratio of 0.16.
Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($2.04) EPS for the quarter, missing analysts’ consensus estimates of ($1.92) by ($0.12). The company had revenue of $5.11 million for the quarter, compared to the consensus estimate of $1.39 million. Blueprint Medicines had a negative return on equity of 73.73% and a negative net margin of 4,268.74%. The firm’s revenue was down 87.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.62) EPS. As a group, analysts forecast that Blueprint Medicines Corp will post -8.44 EPS for the current fiscal year.
In related news, insider Anthony L. Boral sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $80.07, for a total value of $800,700.00. Following the completion of the sale, the insider now owns 1,300 shares of the company’s stock, valued at $104,091. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Kate Haviland sold 11,952 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $96.46, for a total transaction of $1,152,889.92. Following the completion of the sale, the chief operating officer now directly owns 12,160 shares of the company’s stock, valued at approximately $1,172,953.60. The disclosure for this sale can be found here. Insiders have sold 108,888 shares of company stock worth $9,752,015 over the last quarter. 4.02% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Nomura Holdings Inc. acquired a new stake in shares of Blueprint Medicines in the 2nd quarter valued at $1,209,000. BlackRock Inc. lifted its stake in shares of Blueprint Medicines by 20.9% during the second quarter. BlackRock Inc. now owns 4,109,222 shares of the biotechnology company’s stock valued at $387,621,000 after acquiring an additional 710,147 shares during the period. Chartwell Investment Partners LLC lifted its stake in shares of Blueprint Medicines by 21.6% during the second quarter. Chartwell Investment Partners LLC now owns 23,775 shares of the biotechnology company’s stock valued at $2,243,000 after acquiring an additional 4,219 shares during the period. International Biotechnology Trust PLC bought a new position in Blueprint Medicines in the second quarter valued at about $1,604,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its holdings in Blueprint Medicines by 62.8% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,097 shares of the biotechnology company’s stock valued at $104,000 after acquiring an additional 423 shares during the last quarter.
Blueprint Medicines Company Profile (NASDAQ:BPMC)
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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