Blueprint Medicines (BPMC) Trading Down 2.8% Following Weak Earnings

Blueprint Medicines Corp (NASDAQ:BPMC) fell 2.8% during mid-day trading on Tuesday after the company announced weaker than expected quarterly earnings. The company traded as low as $60.86 and last traded at $59.93. 9,935 shares were traded during trading, a decline of 97% from the average session volume of 367,979 shares. The stock had previously closed at $61.63.

The biotechnology company reported ($1.66) EPS for the quarter, missing the consensus estimate of ($1.57) by ($0.09). Blueprint Medicines had a negative return on equity of 32.61% and a negative net margin of 326.99%. The business had revenue of $1.10 million during the quarter, compared to the consensus estimate of $1.87 million. During the same quarter last year, the firm posted ($0.96) earnings per share. Blueprint Medicines’s revenue was down 86.4% compared to the same quarter last year.

Several brokerages have commented on BPMC. BidaskClub cut shares of Blueprint Medicines from a “hold” rating to a “sell” rating in a research report on Wednesday, July 25th. Guggenheim began coverage on shares of Blueprint Medicines in a research report on Tuesday, September 18th. They issued a “buy” rating and a $102.00 price target on the stock. Wedbush reiterated an “outperform” rating and issued a $101.00 price target on shares of Blueprint Medicines in a research report on Monday, October 22nd. ValuEngine cut shares of Blueprint Medicines from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 24th. Finally, Cowen reiterated a “buy” rating on shares of Blueprint Medicines in a research report on Sunday, October 7th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $95.00.



In related news, insider Marion Dorsch sold 2,300 shares of Blueprint Medicines stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $70.47, for a total value of $162,081.00. Following the transaction, the insider now owns 2,300 shares of the company’s stock, valued at approximately $162,081. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey W. Albers sold 20,000 shares of Blueprint Medicines stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $70.59, for a total value of $1,411,800.00. Following the completion of the transaction, the chief executive officer now directly owns 20,000 shares in the company, valued at approximately $1,411,800. The disclosure for this sale can be found here. Company insiders own 3.15% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can purchased a new position in Blueprint Medicines in the 2nd quarter worth about $154,000. grace capital purchased a new position in Blueprint Medicines in the 2nd quarter worth about $171,000. Jane Street Group LLC purchased a new position in Blueprint Medicines in the 2nd quarter worth about $206,000. NumerixS Investment Technologies Inc increased its stake in Blueprint Medicines by 750.0% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 5,100 shares of the biotechnology company’s stock worth $311,000 after purchasing an additional 4,500 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado increased its stake in Blueprint Medicines by 56.7% in the 3rd quarter. Public Employees Retirement Association of Colorado now owns 4,718 shares of the biotechnology company’s stock worth $368,000 after purchasing an additional 1,708 shares in the last quarter. 99.78% of the stock is currently owned by hedge funds and other institutional investors.

The company has a quick ratio of 12.36, a current ratio of 12.36 and a debt-to-equity ratio of 0.02. The company has a market cap of $2.87 billion, a price-to-earnings ratio of -15.50 and a beta of 1.08.

Blueprint Medicines Company Profile (NASDAQ:BPMC)

Blueprint Medicines Corporation, a biopharmaceutical company, develops drugs of small molecule kinase inhibitors that target genomic drivers in various cancers and a rare genetic disease. Its lead drug candidates include avapritinib, which is in Phase I clinical trials that targets KIT Exon 17 mutant proteins and PDGFRa D842V mutations, that are drivers of cancer and proliferative disorders, including gastrointestinal stromal tumors and systemic mastocytosis; and BLU-554, which is in Phase I clinical trials an orally available, potent, and irreversible inhibitor of the kinase FGFR4 that is activated in a defined subset of patients with hepatocellular carcinoma.

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