Leerink Partnrs Has Negative Outlook of BPMC FY2024 Earnings

Blueprint Medicines Co. (NASDAQ:BPMC) – Stock analysts at Leerink Partnrs decreased their FY2024 earnings estimates for Blueprint Medicines in a research report issued to clients and investors on Thursday, October 31st. Leerink Partnrs analyst A. Berens now forecasts that the biotechnology company will post earnings of ($3.66) per share for the year, down from their previous estimate of ($3.51). The consensus estimate for Blueprint Medicines’ current full-year earnings is ($3.77) per share. Leerink Partnrs also issued estimates for Blueprint Medicines’ Q4 2024 earnings at ($0.65) EPS, FY2025 earnings at ($0.99) EPS and FY2026 earnings at $2.59 EPS.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.08. The business had revenue of $128.20 million during the quarter, compared to analysts’ expectations of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The business’s revenue for the quarter was up 126.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($2.20) earnings per share.

Several other brokerages have also recently issued reports on BPMC. Needham & Company LLC reaffirmed a “buy” rating and issued a $133.00 target price on shares of Blueprint Medicines in a report on Wednesday, October 30th. Wells Fargo & Company reduced their price target on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Robert W. Baird lifted their price target on shares of Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. HC Wainwright reiterated a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a research note on Thursday, October 31st. Finally, Oppenheimer lifted their price target on shares of Blueprint Medicines from $114.00 to $125.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $120.39.

Blueprint Medicines Stock Up 1.3 %

Shares of Blueprint Medicines stock opened at $91.88 on Monday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.65 and a current ratio of 3.32. The stock has a market capitalization of $5.84 billion, a PE ratio of -43.54 and a beta of 0.59. Blueprint Medicines has a 52-week low of $56.74 and a 52-week high of $121.90. The company has a 50-day simple moving average of $88.79 and a two-hundred day simple moving average of $98.55.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of Blueprint Medicines stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total transaction of $324,499.56. Following the transaction, the insider now owns 69,070 shares of the company’s stock, valued at $6,169,332.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.21% of the company’s stock.

Hedge Funds Weigh In On Blueprint Medicines

Several large investors have recently added to or reduced their stakes in BPMC. Susquehanna Fundamental Investments LLC purchased a new position in shares of Blueprint Medicines in the first quarter worth $474,000. Hsbc Holdings PLC purchased a new position in shares of Blueprint Medicines in the second quarter worth $1,060,000. Comerica Bank lifted its holdings in shares of Blueprint Medicines by 2,582.9% in the first quarter. Comerica Bank now owns 10,839 shares of the biotechnology company’s stock worth $1,028,000 after buying an additional 10,435 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Blueprint Medicines by 27.8% in the second quarter. Federated Hermes Inc. now owns 62,354 shares of the biotechnology company’s stock worth $6,721,000 after buying an additional 13,579 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Blueprint Medicines by 82.8% in the second quarter. SG Americas Securities LLC now owns 21,684 shares of the biotechnology company’s stock worth $2,337,000 after buying an additional 9,819 shares in 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.