Insider Selling: Blueprint Medicines Co. (NASDAQ:BPMC) Insider Sells 1,834 Shares of Stock

Blueprint Medicines Co. (NASDAQ:BPMC) insider Ariel Hurley sold 1,834 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $103.88, for a total value of $190,515.92. Following the completion of the transaction, the insider now directly owns 14,913 shares in the company, valued at $1,549,162.44. The transaction was disclosed in a filing with the SEC, which is available at this link.

Blueprint Medicines Stock Performance

Shares of BPMC opened at $108.55 on Wednesday. The business has a 50-day simple moving average of $92.17 and a two-hundred day simple moving average of $81.81. The company has a quick ratio of 3.61, a current ratio of 3.76 and a debt-to-equity ratio of 0.67. Blueprint Medicines Co. has a 52 week low of $43.89 and a 52 week high of $110.93. The stock has a market cap of $6.64 billion, a price-to-earnings ratio of -22.57 and a beta of 0.65.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.04) by $0.22. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 193.48%. The company had revenue of $71.96 million during the quarter, compared to analyst estimates of $67.34 million. During the same period in the prior year, the firm posted ($2.65) EPS. The firm’s quarterly revenue was up 85.5% compared to the same quarter last year. On average, analysts expect that Blueprint Medicines Co. will post -5.38 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Norges Bank purchased a new stake in Blueprint Medicines in the 4th quarter worth $55,893,000. Polar Capital Holdings Plc boosted its stake in shares of Blueprint Medicines by 108.0% in the third quarter. Polar Capital Holdings Plc now owns 1,040,000 shares of the biotechnology company’s stock worth $52,229,000 after acquiring an additional 540,000 shares during the period. Rock Springs Capital Management LP grew its position in shares of Blueprint Medicines by 22.8% during the third quarter. Rock Springs Capital Management LP now owns 2,685,294 shares of the biotechnology company’s stock worth $134,855,000 after purchasing an additional 498,622 shares in the last quarter. Avidity Partners Management LP raised its stake in Blueprint Medicines by 81.1% during the 3rd quarter. Avidity Partners Management LP now owns 751,600 shares of the biotechnology company’s stock valued at $37,745,000 after purchasing an additional 336,600 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Blueprint Medicines by 2,788.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 269,658 shares of the biotechnology company’s stock worth $24,873,000 after purchasing an additional 260,321 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on BPMC shares. StockNews.com raised Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. Piper Sandler raised their price target on shares of Blueprint Medicines from $78.00 to $104.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Wedbush reissued an “outperform” rating and set a $110.00 price objective on shares of Blueprint Medicines in a report on Friday, April 26th. SVB Leerink upgraded shares of Blueprint Medicines from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $50.00 to $97.00 in a report on Monday. Finally, Barclays boosted their target price on shares of Blueprint Medicines from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Blueprint Medicines presently has a consensus rating of “Hold” and an average price target of $100.31.

Blueprint Medicines Company Profile

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.