Blueprint Medicines (NASDAQ:BPMC) Trading Down 5.8% – Here’s Why

Blueprint Medicines Co. (NASDAQ:BPMC)’s stock price traded down 5.8% during mid-day trading on Wednesday . The stock traded as low as $75.28 and last traded at $74.59. 137,529 shares were traded during trading, a decline of 82% from the average session volume of 748,684 shares. The stock had previously closed at $79.22.

Wall Street Analyst Weigh In

BPMC has been the subject of several research reports. Piper Sandler increased their target price on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Stephens reiterated an “overweight” rating and issued a $140.00 price objective on shares of Blueprint Medicines in a research report on Thursday, January 2nd. Guggenheim restated a “buy” rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. HC Wainwright reaffirmed a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a research report on Friday, February 14th. Finally, Jefferies Financial Group assumed coverage on shares of Blueprint Medicines in a report on Monday, March 17th. They issued a “buy” rating and a $135.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $124.95.

Blueprint Medicines Stock Performance

The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of -70.18 and a beta of 0.75. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80. The stock has a 50-day moving average of $93.44 and a 200 day moving average of $93.76.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. On average, analysts expect that Blueprint Medicines Co. will post -1.28 EPS for the current year.

Insider Buying and Selling

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $95.02, for a total value of $216,075.48. Following the completion of the sale, the chief operating officer now directly owns 69,266 shares in the company, valued at $6,581,655.32. This represents a 3.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kate Haviland sold 1,446 shares of Blueprint Medicines stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $110.24, for a total transaction of $159,407.04. Following the completion of the transaction, the chief executive officer now directly owns 149,378 shares in the company, valued at approximately $16,467,430.72. The trade was a 0.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,608 shares of company stock valued at $3,319,587 over the last three months. Company insiders own 4.21% of the company’s stock.

Hedge Funds Weigh In On Blueprint Medicines

A number of large investors have recently added to or reduced their stakes in the company. Torray Investment Partners LLC grew its position in Blueprint Medicines by 1.1% in the fourth quarter. Torray Investment Partners LLC now owns 16,499 shares of the biotechnology company’s stock valued at $1,439,000 after purchasing an additional 186 shares in the last quarter. Sherbrooke Park Advisers LLC raised its holdings in shares of Blueprint Medicines by 8.4% in the 4th quarter. Sherbrooke Park Advisers LLC now owns 3,374 shares of the biotechnology company’s stock valued at $294,000 after purchasing an additional 261 shares during the period. Franklin Resources Inc. lifted its stake in Blueprint Medicines by 0.7% in the 3rd quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company’s stock valued at $3,259,000 after purchasing an additional 265 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in shares of Blueprint Medicines by 4.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,652 shares of the biotechnology company’s stock worth $580,000 after acquiring an additional 283 shares during the period. Finally, Pitcairn Co. increased its holdings in shares of Blueprint Medicines by 2.8% in the fourth quarter. Pitcairn Co. now owns 10,608 shares of the biotechnology company’s stock valued at $925,000 after purchasing an additional 293 shares during the last quarter.

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.