Blueprint Medicines (NASDAQ:BPMC) Sets New 12-Month High - Should You Buy?

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on BPMC shares. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $129.00 target price (down previously from $130.00) on shares of Blueprint Medicines in a research note on Monday, June 2nd. UBS Group boosted their price objective on Blueprint Medicines from $88.00 to $129.00 and gave the stock a "neutral" rating in a research note on Thursday, June 5th. JMP Securities restated a "market perform" rating on shares of Blueprint Medicines in a report on Tuesday, June 3rd. Wolfe Research cut Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 3rd. Finally, Cowen downgraded shares of Blueprint Medicines to a "hold" rating in a research report on Monday, June 2nd. Eighteen research 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, Blueprint Medicines has a consensus rating of "Hold" and a consensus price target of $128.06.

Blueprint Medicines Stock Up 0.1%

The business has a fifty day moving average of $112.74 and a 200 day moving average of $100.20. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 1.01. The firm has a market cap of $8.28 billion, a P/E ratio of -51.93 and a beta of 0.89.

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

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $100.51, for a total transaction of $228,559.74. Following the transaction, the chief operating officer directly owned 64,718 shares in the company, valued at approximately $6,504,806.18. The trade was a 3.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeffrey W. Albers sold 5,000 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $101.14, for a total value of $505,700.00. Following the completion of the transaction, the director directly owned 146,630 shares of the company's stock, valued at approximately $14,830,158.20. The trade was a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,300 shares of company stock valued at $1,249,453. Corporate insiders own 4.21% of the company's stock.

Institutional Investors Weigh In On Blueprint Medicines

A number of hedge funds have recently modified their holdings of the business. Cerity Partners LLC bought a new stake in Blueprint Medicines during the 4th quarter worth approximately $291,000. SG Americas Securities LLC increased its position in shares of Blueprint Medicines by 70.1% during the first quarter. SG Americas Securities LLC now owns 7,276 shares of the biotechnology company's stock worth $644,000 after acquiring an additional 2,999 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Blueprint Medicines by 4.7% during the first quarter. Fifth Third Bancorp now owns 3,221 shares of the biotechnology company's stock worth $285,000 after acquiring an additional 146 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Blueprint Medicines by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 303,432 shares of the biotechnology company's stock worth $26,465,000 after acquiring an additional 7,101 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Blueprint Medicines in the 4th quarter valued at $21,104,000.

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.