Blueprint Medicines Co. (NASDAQ:BPMC – Get Free Report)’s share price rose 5.7% during trading on Tuesday . The company traded as high as $95.48 and last traded at $94.68. Approximately 330,942 shares were traded during trading, a decline of 27% from the average daily volume of 454,721 shares. The stock had previously closed at $89.54.
Wall Street Analysts Forecast Growth
BPMC has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a research note on Friday, November 15th. HC Wainwright restated a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research report on Friday, November 15th. Guggenheim reiterated a “buy” rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. Wedbush reissued an “outperform” rating and issued a $135.00 price target on shares of Blueprint Medicines in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. assumed coverage on Blueprint Medicines in a report on Thursday, November 14th. They set an “overweight” rating and a $126.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $123.33.
Get Our Latest Stock Report on BPMC
Blueprint Medicines Price Performance
Blueprint Medicines (NASDAQ:BPMC – Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.08. The company had revenue of $128.20 million during the quarter, compared to analysts’ expectations of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The business’s revenue for the quarter was up 126.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($2.20) earnings per share. As a group, equities research analysts expect that Blueprint Medicines Co. will post -3.68 earnings per share for the current fiscal year.
Insider Buying and Selling at Blueprint Medicines
In related news, Director Jeffrey W. Albers sold 15,000 shares of the stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $89.77, for a total transaction of $1,346,550.00. Following the transaction, the director now directly owns 157,557 shares in the company, valued at approximately $14,143,891.89. This represents a 8.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kate Haviland sold 2,353 shares of the firm’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 sale, the chief executive officer now directly owns 150,824 shares in the company, valued at approximately $14,569,598.40. The trade was a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,720 shares of company stock worth $2,177,846. Corporate insiders own 4.21% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. Amalgamated Bank boosted its position in Blueprint Medicines by 5.3% during the 2nd quarter. Amalgamated Bank now owns 2,154 shares of the biotechnology company’s stock worth $232,000 after purchasing an additional 109 shares during the period. Pallas Capital Advisors LLC grew its stake in shares of Blueprint Medicines by 3.2% in the third quarter. Pallas Capital Advisors LLC now owns 5,657 shares of the biotechnology company’s stock valued at $523,000 after buying an additional 176 shares in the last quarter. Clarus Wealth Advisors raised its holdings in shares of Blueprint Medicines by 8.6% during the 3rd quarter. Clarus Wealth Advisors now owns 2,590 shares of the biotechnology company’s stock valued at $231,000 after buying an additional 206 shares during the period. Mackenzie Financial Corp raised its holdings 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 during the period. Finally, Franklin Resources Inc. lifted its position in Blueprint Medicines by 0.7% during the 3rd quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company’s stock worth $3,259,000 after acquiring an additional 265 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.
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