Blueprint Medicines (NASDAQ:BPMC) Trading Down 5.8% – What’s Next?

by · The Markets Daily

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Morgan Stanley initiated coverage on Blueprint Medicines in a research note on Thursday, March 20th. They issued an “equal weight” rating and a $100.00 price objective on the stock. Jefferies Financial Group began coverage on shares of Blueprint Medicines in a report on Monday, March 17th. They set a “buy” rating and a $135.00 price target on the stock. Stephens reissued an “overweight” rating and issued a $140.00 price objective on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Piper Sandler raised their price objective on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Finally, Wolfe Research initiated coverage on shares of Blueprint Medicines in a report on Tuesday, March 18th. They issued an “outperform” rating for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Blueprint Medicines has an average rating of “Moderate Buy” and an average price target of $124.95.

Get Our Latest Report on BPMC

Blueprint Medicines Stock Performance

The business’s fifty day moving average is $91.56 and its two-hundred day moving average is $93.55. The stock has a market capitalization of $5.17 billion, a PE ratio of -74.85 and a beta of 0.75. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15.

Blueprint Medicines (NASDAQ:BPMC – Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) 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%. As a group, research analysts anticipate that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.

Insider Transactions at Blueprint Medicines

In other news, insider Ariel Hurley sold 2,250 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $100.00, for a total value of $225,000.00. Following the sale, the insider now directly owns 14,967 shares in the company, valued at approximately $1,496,700. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Christina Rossi sold 2,274 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $95.02, for a total value of $216,075.48. Following the sale, the chief operating officer now directly owns 69,266 shares of the company’s stock, valued at $6,581,655.32. This represents a 3.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,608 shares of company stock worth $3,319,587. 4.21% of the stock is currently owned by insiders.

Institutional Trading of Blueprint Medicines

A number of hedge funds and other institutional investors have recently bought and sold shares of BPMC. Quarry LP purchased a new stake in shares of Blueprint Medicines during the third quarter valued at $32,000. R Squared Ltd purchased a new stake in Blueprint Medicines in the 4th quarter valued at about $51,000. Headlands Technologies LLC bought a new position in Blueprint Medicines in the 4th quarter worth about $65,000. Thematics Asset Management bought a new position in Blueprint Medicines in the 4th quarter worth about $72,000. Finally, Covestor Ltd increased its position in shares of Blueprint Medicines by 62.7% during the fourth quarter. Covestor Ltd now owns 973 shares of the biotechnology company’s stock worth $85,000 after acquiring an additional 375 shares during the period.

Blueprint Medicines Company Profile

(Get Free Report)

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.

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