Q1 2022 EPS Estimates for Blueprint Medicines Co. Decreased by Analyst (NASDAQ:BPMC)

Blueprint Medicines Co. (NASDAQ:BPMC) – Wedbush dropped their Q1 2022 earnings per share (EPS) estimates for Blueprint Medicines in a note issued to investors on Monday, November 29th. Wedbush analyst D. Nierengarten now forecasts that the biotechnology company will post earnings per share of ($1.56) for the quarter, down from their previous forecast of ($1.53). Wedbush also issued estimates for Blueprint Medicines’ Q2 2022 earnings at ($1.46) EPS, Q3 2022 earnings at ($1.42) EPS, Q4 2022 earnings at ($1.70) EPS, FY2022 earnings at ($6.14) EPS, FY2023 earnings at ($4.77) EPS and FY2024 earnings at $0.25 EPS.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Wednesday, October 27th. The biotechnology company reported ($2.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.63) by ($0.37). Blueprint Medicines had a negative net margin of 383.58% and a negative return on equity of 30.19%. The company had revenue of $24.19 million during the quarter, compared to analyst estimates of $42.58 million. During the same period in the prior year, the company earned $11.16 earnings per share. The company’s revenue was down 96.8% on a year-over-year basis.

Other equities analysts have also issued research reports about the stock. Morgan Stanley upped their price target on shares of Blueprint Medicines from $96.00 to $111.00 and gave the stock an “equal weight” rating in a research report on Friday, October 29th. TheStreet lowered shares of Blueprint Medicines from a “c” rating to a “d” rating in a research report on Friday, November 5th. Raymond James upped their price target on shares of Blueprint Medicines from $122.00 to $133.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, November 10th. HC Wainwright restated a “buy” rating and set a $134.00 price target on shares of Blueprint Medicines in a research report on Tuesday. Finally, JMP Securities restated a “buy” rating and set a $151.00 price target on shares of Blueprint Medicines in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $123.36.

BPMC stock opened at $94.25 on Thursday. Blueprint Medicines has a 1-year low of $79.07 and a 1-year high of $125.61. The firm has a fifty day moving average price of $105.40 and a two-hundred day moving average price of $95.29. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of -13.26 and a beta of 0.67.

A number of hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its holdings in Blueprint Medicines by 1.6% during the third quarter. PNC Financial Services Group Inc. now owns 6,164 shares of the biotechnology company’s stock valued at $633,000 after purchasing an additional 100 shares during the last quarter. Hancock Whitney Corp grew its holdings in Blueprint Medicines by 2.1% during the second quarter. Hancock Whitney Corp now owns 5,078 shares of the biotechnology company’s stock valued at $447,000 after purchasing an additional 106 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Blueprint Medicines by 38.4% in the third quarter. Exchange Traded Concepts LLC now owns 436 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 121 shares during the period. Ameritas Investment Partners Inc. boosted its position in shares of Blueprint Medicines by 2.8% in the second quarter. Ameritas Investment Partners Inc. now owns 4,626 shares of the biotechnology company’s stock valued at $407,000 after acquiring an additional 125 shares during the period. Finally, Arizona State Retirement System boosted its position in shares of Blueprint Medicines by 0.9% in the third quarter. Arizona State Retirement System now owns 15,097 shares of the biotechnology company’s stock valued at $1,552,000 after acquiring an additional 130 shares during the period. Institutional investors own 99.20% of the company’s stock.

In related news, insider L. Becker Hewes sold 729 shares of the stock in a transaction that occurred on Monday, November 15th. The stock was sold at an average price of $115.49, for a total value of $84,192.21. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jeffrey W. Albers sold 30,000 shares of the stock in a transaction that occurred on Monday, November 15th. The stock was sold at an average price of $114.50, for a total value of $3,435,000.00. The disclosure for this sale can be found here. Insiders have sold 65,299 shares of company stock valued at $7,252,283 over the last ninety days. Insiders own 3.34% of the company’s stock.

Blueprint Medicines Company Profile

Blueprint Medicines Corp. is a precision therapy company. It focuses on medicines to improve the lives of patients with genomically defined cancers, rare diseases and cancer immunotherapy. The company was founded by Chris Varma, Nicholas B. Lydon, Brian Druker, and Alexis Borisy on October 14, 2008 and is headquartered in Cambridge, MA.

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Earnings History and Estimates for Blueprint Medicines (NASDAQ:BPMC)