Short Interest in Blueprint Medicines Co. (NASDAQ:BPMC) Drops By 7.9%

Blueprint Medicines Co. (NASDAQ:BPMC) was the recipient of a significant drop in short interest during the month of July. As of July 31st, there was short interest totalling 4,410,000 shares, a drop of 7.9% from the July 15th total of 4,790,000 shares. Based on an average daily volume of 670,200 shares, the short-interest ratio is currently 6.6 days.

Blueprint Medicines Price Performance

Shares of NASDAQ:BPMC opened at $93.49 on Monday. Blueprint Medicines has a 1-year low of $43.89 and a 1-year high of $121.90. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.76 and a quick ratio of 3.61. The business has a fifty day moving average price of $106.61 and a 200-day moving average price of $98.11. The company has a market capitalization of $5.85 billion, a PE ratio of -19.44 and a beta of 0.63.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.80) EPS for the quarter, topping the consensus estimate of ($1.29) by $0.49. The company had revenue of $138.20 million during the quarter, compared to the consensus estimate of $104.02 million. Blueprint Medicines had a negative return on equity of 176.65% and a negative net margin of 56.64%. Blueprint Medicines’s revenue for the quarter was up 139.9% on a year-over-year basis. During the same period last year, the company earned ($2.19) EPS. As a group, equities analysts expect that Blueprint Medicines will post -4.67 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on BPMC shares. Morgan Stanley raised their price target on Blueprint Medicines from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Friday, July 12th. JMP Securities reaffirmed a “market outperform” rating and issued a $125.00 price target on shares of Blueprint Medicines in a research note on Friday, June 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 price target on shares of Blueprint Medicines in a research note on Thursday, August 1st. Guggenheim raised their price target on Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Barclays raised their price target on Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $120.00.

Insider Transactions at Blueprint Medicines

In other news, insider Philina Lee sold 41,913 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 34,729 shares in the company, valued at $3,236,395.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Philina Lee sold 41,913 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 34,729 shares in the company, valued at $3,236,395.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Debra Durso-Bumpus sold 74,034 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $104.19, for a total transaction of $7,713,602.46. Following the completion of the transaction, the insider now owns 43,763 shares in the company, valued at approximately $4,559,666.97. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 171,977 shares of company stock worth $17,622,599. Insiders own 4.21% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

A number of large investors have recently made changes to their positions in the company. Creative Planning grew its stake in shares of Blueprint Medicines by 27.1% during the 2nd quarter. Creative Planning now owns 12,351 shares of the biotechnology company’s stock valued at $1,331,000 after purchasing an additional 2,636 shares during the period. Algert Global LLC grew its stake in shares of Blueprint Medicines by 81.0% during the 2nd quarter. Algert Global LLC now owns 65,540 shares of the biotechnology company’s stock valued at $7,064,000 after purchasing an additional 29,330 shares during the period. Driehaus Capital Management LLC grew its stake in shares of Blueprint Medicines by 101.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 358,255 shares of the biotechnology company’s stock valued at $38,613,000 after purchasing an additional 180,043 shares during the period. Mackenzie Financial Corp lifted its position in shares of Blueprint Medicines by 5.2% during the 2nd quarter. Mackenzie Financial Corp now owns 4,885 shares of the biotechnology company’s stock valued at $527,000 after buying an additional 243 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Blueprint Medicines by 540.0% during the 2nd quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company’s stock valued at $67,646,000 after buying an additional 529,566 shares in 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.