Short Interest in Blueprint Medicines Co. (NASDAQ:BPMC) Declines By 7.3%

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

Wall Street Analysts Forecast Growth

BPMC has been the subject of several research reports. Guggenheim boosted their price objective on Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Barclays upped their target price on shares of Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Morgan Stanley boosted their price target on shares of Blueprint Medicines from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Friday, July 12th. Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price objective on shares of Blueprint Medicines in a report on Thursday, August 1st. Finally, Baird R W upgraded Blueprint Medicines to a “strong-buy” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $120.00.

Insider Buying and Selling

In related news, insider Philina Lee sold 41,913 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 34,729 shares in the company, valued at approximately $3,236,395.51. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Philina Lee sold 41,913 shares of Blueprint Medicines stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $93.19, for a total value of $3,905,872.47. Following the completion of the transaction, the insider now owns 34,729 shares in the company, valued at approximately $3,236,395.51. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Debra Durso-Bumpus sold 3,850 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $111.20, for a total value of $428,120.00. Following the transaction, the insider now owns 43,763 shares in the company, valued at approximately $4,866,445.60. The disclosure for this sale can be found here. Insiders have sold a total of 54,580 shares of company stock valued at $5,315,236 over the last ninety days. Company insiders own 4.21% of the company’s stock.

Institutional Trading of Blueprint Medicines

A number of institutional investors have recently bought and sold shares of BPMC. Triad Wealth Partners LLC purchased a new stake in Blueprint Medicines during the second quarter worth approximately $27,000. Covestor Ltd boosted its holdings in shares of Blueprint Medicines by 9,700.0% in the 1st quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 291 shares in the last quarter. Headlands Technologies LLC grew its position in shares of Blueprint Medicines by 105.2% in the 1st quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock valued at $63,000 after buying an additional 342 shares during the last quarter. Natixis purchased a new position in shares of Blueprint Medicines in the 1st quarter valued at $73,000. Finally, CWM LLC raised its stake in Blueprint Medicines by 114.6% during the 2nd quarter. CWM LLC now owns 1,105 shares of the biotechnology company’s stock worth $119,000 after acquiring an additional 590 shares in the last quarter.

Blueprint Medicines Stock Up 3.9 %

NASDAQ:BPMC traded up $3.49 during midday trading on Friday, reaching $92.55. The company had a trading volume of 831,855 shares, compared to its average volume of 702,910. The company has a current ratio of 3.71, a quick ratio of 3.65 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of -19.24 and a beta of 0.58. The stock’s fifty day simple moving average is $95.09 and its 200-day simple moving average is $98.99. Blueprint Medicines has a 12-month low of $43.89 and a 12-month high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.49. Blueprint Medicines had a negative net margin of 56.64% and a negative return on equity of 157.30%. The company had revenue of $138.20 million during the quarter, compared to the consensus estimate of $104.02 million. During the same quarter in the previous year, the firm earned ($2.19) earnings per share. The firm’s quarterly revenue was up 139.9% on a year-over-year basis. On average, sell-side analysts anticipate that Blueprint Medicines will post -3.99 earnings per share for the current fiscal year.

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.