Blueprint Medicines Co. (NASDAQ:BPMC) Short Interest Update

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

Wall Street Analyst Weigh In

BPMC has been the subject of a number of recent research reports. Oppenheimer boosted their target price on shares of Blueprint Medicines from $114.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Baird R W raised shares of Blueprint Medicines to a “strong-buy” rating in a report on Friday, August 2nd. Barclays raised 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. Guggenheim lifted their price target on shares of Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, JMP Securities reissued a “market outperform” rating and set a $125.00 price target on shares of Blueprint Medicines in a research report on Friday, June 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.00.

Blueprint Medicines Price Performance

Shares of BPMC stock traded down $1.84 on Monday, reaching $90.71. The company had a trading volume of 264,665 shares, compared to its average volume of 700,711. The business’s 50-day moving average is $95.09 and its 200 day moving average is $99.05. Blueprint Medicines has a one year low of $43.89 and a one year high of $121.90. The company has a quick ratio of 3.65, a current ratio of 3.71 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $5.68 billion, a PE ratio of -19.24 and a beta of 0.58.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($1.29) by $0.49. The business had revenue of $138.20 million during the quarter, compared to the consensus estimate of $104.02 million. Blueprint Medicines had a negative net margin of 56.64% and a negative return on equity of 157.30%. The firm’s revenue was up 139.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($2.19) EPS. Equities research analysts forecast that Blueprint Medicines will post -3.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Debra Durso-Bumpus sold 8,817 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $111.29, for a total value of $981,243.93. Following the completion of the transaction, the insider now owns 43,763 shares in the company, valued at approximately $4,870,384.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Philina Lee sold 41,913 shares of the stock in a transaction on 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 sale, the insider now 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 can be accessed through this hyperlink. Also, insider Debra Durso-Bumpus sold 8,817 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $111.29, for a total value of $981,243.93. Following the sale, the insider now directly owns 43,763 shares of the company’s stock, valued at approximately $4,870,384.27. The disclosure for this sale can be found here. Insiders have sold 54,580 shares of company stock valued at $5,315,236 in the last three months. 4.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Blueprint Medicines

Several hedge funds have recently modified their holdings of BPMC. Triad Wealth Partners LLC acquired a new stake in shares of Blueprint Medicines during the second quarter valued at about $27,000. Covestor Ltd lifted its holdings in shares of Blueprint Medicines by 9,700.0% during the first 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 grew its stake in shares of Blueprint Medicines by 105.2% in the first quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 342 shares during the last quarter. Natixis acquired a new stake in Blueprint Medicines in the first quarter valued at $73,000. Finally, CWM LLC raised its position 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 purchasing an additional 590 shares during 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.