Blueprint Medicines (NASDAQ:BPMC) Hits New 12-Month High - Time to Buy?

Shares of Blueprint Medicines Corporation (NASDAQ:BPMC - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $128.52 and last traded at $128.39, with a volume of 1621562 shares trading hands. The stock had previously closed at $128.18.

Wall Street Analyst Weigh In

BPMC has been the subject of a number of research reports. TD Cowen downgraded Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 3rd. Wall Street Zen upgraded shares of Blueprint Medicines from a "sell" rating to a "hold" rating in a research note on Friday, May 2nd. Wells Fargo & Company lowered shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating and cut their price objective for the stock from $143.00 to $129.00 in a research note on Tuesday, June 17th. HC Wainwright reaffirmed a "buy" rating and issued a $135.00 price target on shares of Blueprint Medicines in a report on Friday, May 2nd. Finally, Cowen lowered Blueprint Medicines to a "hold" rating in a research note on Monday, June 2nd. Eighteen analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $128.06.

Blueprint Medicines Trading Up 0.1%

The company has a fifty day moving average of $112.74 and a 200-day moving average of $100.20. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $8.28 billion, a price-to-earnings ratio of -51.93 and a beta of 0.89.

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). Blueprint Medicines had a negative return on equity of 64.60% and a negative net margin of 27.70%. The firm had revenue of $149.41 million during the quarter, compared to analyst estimates of $158.31 million. During the same period in the prior year, the firm earned $1.40 earnings per share. The business's revenue was up 55.5% on a year-over-year basis. As a group, equities research analysts anticipate that Blueprint Medicines Corporation will post -1.28 earnings per share for the current fiscal year.

Insider Transactions at Blueprint Medicines

In other news, insider Ariel Hurley sold 2,752 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $103.13, for a total value of $283,813.76. Following the completion of the sale, the insider directly owned 16,944 shares in the company, valued at $1,747,434.72. This represents a 13.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $100.51, for a total value of $228,559.74. Following the transaction, the chief operating officer owned 64,718 shares in the company, valued at approximately $6,504,806.18. The trade was a 3.39% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,300 shares of company stock valued at $1,249,453. Corporate insiders own 4.21% of the company's stock.

Institutional Trading of Blueprint Medicines

Several large investors have recently added to or reduced their stakes in BPMC. Voya Investment Management LLC boosted its position in shares of Blueprint Medicines by 17.7% during the 1st quarter. Voya Investment Management LLC now owns 241,672 shares of the biotechnology company's stock valued at $21,390,000 after acquiring an additional 36,281 shares during the last quarter. Rhumbline Advisers raised its stake in 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 during the period. Strs Ohio acquired a new position in Blueprint Medicines in the 1st quarter valued at about $593,000. Intech Investment Management LLC grew its stake in shares of 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 buying an additional 8,443 shares during the period. Finally, SCS Capital Management LLC purchased a new stake in shares of Blueprint Medicines in the 1st quarter valued at approximately $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.