Blueprint Medicines Co. (NASDAQ:BPMC) Short Interest Down 7.3% in September

Blueprint Medicines Co. (NASDAQ:BPMC) was the recipient of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 3,670,000 shares, a decrease of 7.3% from the August 31st total of 3,960,000 shares. Based on an average daily volume of 691,700 shares, the short-interest ratio is currently 5.3 days.

Wall Street Analyst Weigh In

Several equities analysts have commented on BPMC shares. Needham & Company LLC reissued a “buy” rating and set a $130.00 target price on shares of Blueprint Medicines in a research note on Thursday, August 1st. Oppenheimer upped their price objective on Blueprint Medicines from $114.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Baird R W raised shares of Blueprint Medicines to a “strong-buy” rating in a report on Friday, August 2nd. Barclays boosted their price objective on Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Finally, Guggenheim boosted their price target on shares of Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Blueprint Medicines presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.00.

Blueprint Medicines Stock Down 1.4 %

Shares of NASDAQ:BPMC traded down $1.28 during midday trading on Tuesday, hitting $91.22. 35,677 shares of the stock were exchanged, compared to its average volume of 699,267. The business’s fifty day simple moving average is $94.60 and its two-hundred day simple moving average is $99.09. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.65 and a current ratio of 3.71. Blueprint Medicines has a 52-week low of $43.89 and a 52-week high of $121.90. The company has a market capitalization of $5.71 billion, a PE ratio of -19.23 and a beta of 0.58.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($1.29) by $0.49. The business had revenue of $138.20 million during the quarter, compared to analysts’ expectations of $104.02 million. Blueprint Medicines had a negative return on equity of 157.30% and a negative net margin of 56.64%. The firm’s quarterly revenue was up 139.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($2.19) EPS. As a group, research analysts predict that Blueprint Medicines will post -3.99 earnings per share for the current fiscal year.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, insider Debra Durso-Bumpus sold 8,817 shares of Blueprint Medicines stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $111.29, for a total transaction of $981,243.93. Following the sale, the insider now directly owns 43,763 shares in the company, valued at approximately $4,870,384.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Blueprint Medicines news, insider Debra Durso-Bumpus sold 8,817 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $111.29, for a total transaction of $981,243.93. Following the transaction, the insider now directly owns 43,763 shares in the company, valued at approximately $4,870,384.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Philina Lee sold 41,913 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $93.19, for a total value of $3,905,872.47. Following the completion of the sale, the insider now directly owns 34,729 shares of the company’s stock, valued at $3,236,395.51. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,580 shares of company stock valued at $5,315,236. Insiders own 4.21% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Gilbert & Cook Inc. increased its position in Blueprint Medicines by 8.5% during the fourth quarter. Gilbert & Cook Inc. now owns 4,846 shares of the biotechnology company’s stock worth $447,000 after buying an additional 380 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Blueprint Medicines by 1.7% in the 4th quarter. Principal Financial Group Inc. now owns 14,510 shares of the biotechnology company’s stock valued at $1,338,000 after acquiring an additional 247 shares in the last quarter. Eagle Asset Management Inc. raised its stake in shares of Blueprint Medicines by 10.7% in the 4th quarter. Eagle Asset Management Inc. now owns 231,396 shares of the biotechnology company’s stock valued at $21,344,000 after acquiring an additional 22,279 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Blueprint Medicines by 3.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 135,969 shares of the biotechnology company’s stock worth $12,542,000 after purchasing an additional 4,746 shares during the last quarter. Finally, NEOS Investment Management LLC bought a new stake in Blueprint Medicines during the fourth quarter worth approximately $460,000.

Blueprint Medicines Company Profile

Blueprint Medicines Corporation, a precision therapy company, develops medicines for genomically defined cancers and blood disorders in the United States and internationally. The company is developing AYVAKIT for the treatment of systemic mastocytosis (SM) and gastrointestinal stromal tumors; BLU-263, an orally available, potent, and KIT inhibitor for the treatment of indolent SM, and other mast cell disorders.