Blueprint Medicines (NASDAQ:BPMC) Shares Up 3.1%

Blueprint Medicines Co. (NASDAQ:BPMC) was up 3.1% on Tuesday . The company traded as high as $110.57 and last traded at $109.44. Approximately 85,299 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 707,099 shares. The stock had previously closed at $106.10.

Analysts Set New Price Targets

BPMC has been the topic of a number of analyst reports. Stifel Nicolaus increased their price objective on Blueprint Medicines from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, April 26th. HC Wainwright raised their price target on shares of Blueprint Medicines from $125.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Wedbush reissued an “outperform” rating and issued a $110.00 price objective on shares of Blueprint Medicines in a research report on Friday, April 26th. Citigroup raised their target price on shares of Blueprint Medicines from $65.00 to $76.00 and gave the stock a “sell” rating in a research report on Friday, May 3rd. Finally, StockNews.com upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Blueprint Medicines presently has a consensus rating of “Moderate Buy” and an average price target of $108.00.

Blueprint Medicines Stock Performance

The stock’s 50-day moving average is $102.46 and its 200-day moving average is $92.34. The company has a current ratio of 3.76, a quick ratio of 3.61 and a debt-to-equity ratio of 0.67. The stock has a market cap of $6.51 billion, a price-to-earnings ratio of -21.60 and a beta of 0.70.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Thursday, May 2nd. The biotechnology company reported ($1.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.64) by $0.32. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 193.48%. The company had revenue of $96.12 million during the quarter, compared to the consensus estimate of $82.58 million. On average, analysts expect that Blueprint Medicines Co. will post -5.15 EPS for the current year.

Insider Buying and Selling at Blueprint Medicines

In other news, insider Ariel Hurley sold 1,834 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $103.88, for a total value of $190,515.92. Following the completion of the sale, the insider now owns 14,913 shares in the company, valued at $1,549,162.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Debra Durso-Bumpus sold 74,034 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $104.19, for a total value of $7,713,602.46. Following the completion of the transaction, the insider now directly owns 43,763 shares in the company, valued at $4,559,666.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ariel Hurley sold 1,834 shares of Blueprint Medicines stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $103.88, for a total transaction of $190,515.92. Following the sale, the insider now directly owns 14,913 shares in the company, valued at approximately $1,549,162.44. The disclosure for this sale can be found here. Insiders have sold 128,898 shares of company stock valued at $13,510,865 over the last three months. 4.21% of the stock is owned by company insiders.

Institutional Trading of Blueprint Medicines

Large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Blueprint Medicines by 3.2% in the first quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company’s stock valued at $598,564,000 after purchasing an additional 195,007 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Blueprint Medicines by 15.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,250,823 shares of the biotechnology company’s stock valued at $592,954,000 after purchasing an additional 821,868 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Blueprint Medicines by 3.2% during the 3rd quarter. Wellington Management Group LLP now owns 5,080,521 shares of the biotechnology company’s stock valued at $255,144,000 after buying an additional 156,807 shares during the last quarter. Rock Springs Capital Management LP grew its position in shares of Blueprint Medicines by 22.8% during the third quarter. Rock Springs Capital Management LP now owns 2,685,294 shares of the biotechnology company’s stock worth $134,855,000 after buying an additional 498,622 shares in the last quarter. Finally, Polar Capital Holdings Plc increased its stake in shares of Blueprint Medicines by 108.0% in the third quarter. Polar Capital Holdings Plc now owns 1,040,000 shares of the biotechnology company’s stock worth $52,229,000 after buying an additional 540,000 shares during the last quarter.

About Blueprint Medicines

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.