Blueprint Medicines (NASDAQ:BPMC) Reaches New 12-Month High at $111.42

Shares of Blueprint Medicines Co. (NASDAQ:BPMC) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $111.42 and last traded at $110.49, with a volume of 33385 shares changing hands. The stock had previously closed at $108.52.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BPMC shares. Citigroup upped their price target on Blueprint Medicines from $65.00 to $76.00 and gave the company a “sell” rating in a research report on Friday, May 3rd. JMP Securities restated a “market outperform” rating and set a $125.00 price target on shares of Blueprint Medicines in a research note on Friday, June 7th. StockNews.com upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Leerink Partnrs upgraded Blueprint Medicines from an “underperform” rating to a “market perform” rating in a research note on Monday, May 6th. Finally, SVB Leerink upgraded Blueprint Medicines from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $50.00 to $97.00 in a research note on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $110.20.

Blueprint Medicines Trading Down 0.7 %

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 business has a 50 day moving average of $103.28 and a 200-day moving average of $92.69. The stock has a market cap of $6.75 billion, a PE ratio of -22.41 and a beta of 0.70.

Blueprint Medicines (NASDAQ:BPMC) last posted its earnings results on Thursday, May 2nd. The biotechnology company reported ($1.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.64) by $0.32. The firm had revenue of $96.12 million for the quarter, compared to analyst estimates of $82.58 million. Blueprint Medicines had a negative return on equity of 193.48% and a negative net margin of 102.15%. On average, analysts anticipate 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 company’s 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 completion of the sale, the insider now directly owns 14,913 shares in the company, valued at approximately $1,549,162.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Michael Landsittel sold 10,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $105.00, for a total transaction of $1,050,000.00. Following the transaction, the chief financial officer now owns 47,286 shares of the company’s stock, valued at $4,965,030. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $190,515.92. Following the sale, the insider now owns 14,913 shares in the company, valued at approximately $1,549,162.44. The disclosure for this sale can be found here. In the last three months, insiders sold 128,898 shares of company stock worth $13,510,865. Insiders own 4.21% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

Several large investors have recently made changes to their positions in BPMC. Covestor Ltd boosted its stake in Blueprint Medicines by 9,700.0% in the 1st quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 291 shares during the period. Headlands Technologies LLC raised its holdings in shares of Blueprint Medicines by 105.2% during the 1st quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock valued at $63,000 after purchasing an additional 342 shares in the last quarter. Compass Wealth Management LLC bought a new position in Blueprint Medicines in the 4th quarter worth $69,000. Natixis bought a new position in Blueprint Medicines in the 1st quarter worth $73,000. Finally, Van ECK Associates Corp raised its holdings in Blueprint Medicines by 28.4% in the 4th quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock worth $80,000 after acquiring an additional 193 shares during the period.

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.