Blueprint Medicines (NASDAQ:BPMC) Hits New 1-Year High - Here's Why

Blueprint Medicines Corporation (NASDAQ:BPMC - Get Free Report)'s stock price hit a new 52-week high on Monday . The stock traded as high as $128.43 and last traded at $128.41, with a volume of 3297071 shares trading hands. The stock had previously closed at $128.20.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BPMC shares. Wolfe Research cut Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 3rd. Citigroup raised Blueprint Medicines from a "strong sell" rating to a "hold" rating and lifted their price objective for the stock from $83.00 to $129.00 in a report on Wednesday, June 4th. Wells Fargo & Company lowered Blueprint Medicines from a "strong-buy" rating to a "hold" rating and reduced their target price for the company from $143.00 to $129.00 in a report on Tuesday, June 17th. UBS Group lifted their target price on Blueprint Medicines from $88.00 to $129.00 and gave the company a "neutral" rating in a report on Thursday, June 5th. Finally, Guggenheim set a $132.00 price objective on Blueprint Medicines in a report on Tuesday, June 3rd. Eighteen research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $128.06.

Blueprint Medicines Stock Up 0.2%

The company has a debt-to-equity ratio of 1.01, a current ratio of 2.80 and a quick ratio of 2.75. The business has a fifty day moving average price of $104.75 and a two-hundred day moving average price of $98.16. The firm has a market capitalization of $8.29 billion, a price-to-earnings ratio of -51.98 and a beta of 0.84.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.32). The business had revenue of $149.41 million for the quarter, compared to analysts' expectations of $158.31 million. Blueprint Medicines had a negative return on equity of 64.60% and a negative net margin of 27.70%. The business's revenue for the quarter was up 55.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.40 EPS. On average, equities analysts expect that Blueprint Medicines Corporation will post -1.28 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jeffrey W. Albers sold 5,000 shares of Blueprint Medicines stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $101.14, for a total value of $505,700.00. Following the completion of the transaction, the director now directly owns 146,630 shares in the company, valued at approximately $14,830,158.20. This trade represents a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction on Monday, May 5th. The shares were sold at an average price of $101.75, for a total value of $231,379.50. Following the completion of the transaction, the chief operating officer now owns 66,992 shares of the company's stock, valued at approximately $6,816,436. This trade represents a 3.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,300 shares of company stock worth $1,249,453. Company insiders own 4.21% of the company's stock.

Institutional Trading of Blueprint Medicines

A number of institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC increased its position in shares of Blueprint Medicines by 17.7% during the first quarter. Voya Investment Management LLC now owns 241,672 shares of the biotechnology company's stock worth $21,390,000 after purchasing an additional 36,281 shares in the last quarter. Rhumbline Advisers increased its position in shares of Blueprint Medicines by 6.2% during the first quarter. Rhumbline Advisers now owns 91,933 shares of the biotechnology company's stock worth $8,137,000 after purchasing an additional 5,402 shares in the last quarter. Strs Ohio acquired a new position in Blueprint Medicines in the 1st quarter valued at about $593,000. Intech Investment Management LLC increased its position in Blueprint Medicines by 26.7% in the 1st quarter. Intech Investment Management LLC now owns 40,014 shares of the biotechnology company's stock valued at $3,542,000 after acquiring an additional 8,443 shares during the period. Finally, SCS Capital Management LLC acquired a new position in Blueprint Medicines in the 1st quarter valued at about $1,342,000.

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.

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