Blueprint Medicines (NASDAQ:BPMC) Stock Price Down 3.6% – What’s Next?

Blueprint Medicines Co. (NASDAQ:BPMC)’s stock price fell 3.6% on Thursday . The company traded as low as $87.55 and last traded at $88.50. Approximately 122,851 shares were traded during trading, a decline of 82% from the average daily volume of 683,709 shares. The stock had previously closed at $91.78.

Analysts Set New Price Targets

Several equities analysts have recently commented on BPMC shares. Guggenheim restated a “buy” rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. StockNews.com raised Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. JMP Securities reiterated a “market outperform” rating and set a $125.00 price objective on shares of Blueprint Medicines in a research report on Monday, December 9th. JPMorgan Chase & Co. initiated coverage on shares of Blueprint Medicines in a research report on Thursday, November 14th. They issued an “overweight” rating and a $126.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $122.11.

Blueprint Medicines Price Performance

The stock has a market capitalization of $5.73 billion, a PE ratio of -42.72 and a beta of 0.59. The firm’s 50 day simple moving average is $92.45 and its 200 day simple moving average is $97.23. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.08. The firm had revenue of $128.20 million for the quarter, compared to analysts’ expectations of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The business’s revenue was up 126.5% on a year-over-year basis. During the same quarter last year, the business earned ($2.20) earnings per share. As a group, equities analysts forecast that Blueprint Medicines Co. will post -3.68 EPS for the current fiscal year.

Insider Activity at Blueprint Medicines

In related news, insider Ariel Hurley sold 1,819 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $93.26, for a total transaction of $169,639.94. Following the sale, the insider now directly owns 14,967 shares of the company’s stock, valued at $1,395,822.42. This trade represents a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kate Haviland sold 2,353 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $96.60, for a total value of $227,299.80. Following the completion of the transaction, the chief executive officer now directly owns 150,824 shares of the company’s stock, valued at approximately $14,569,598.40. This trade represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,353 shares of company stock worth $2,502,346 over the last ninety days. 4.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BPMC. Quarry LP purchased a new position in shares of Blueprint Medicines in the third quarter worth $32,000. Covestor Ltd grew its position in shares of Blueprint Medicines by 206.7% during the third quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 403 shares in the last quarter. Quantbot Technologies LP purchased a new position in Blueprint Medicines during the 3rd quarter valued at approximately $108,000. Van ECK Associates Corp increased its position in Blueprint Medicines by 13.3% in the second quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock worth $120,000 after purchasing an additional 131 shares during the last quarter. Finally, Values First Advisors Inc. bought a new position in Blueprint Medicines during the third quarter valued at $122,000.

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.