Blueprint Medicines (NASDAQ:BPMC) Reaches New 1-Year High - Here's What Happened

Blueprint Medicines Corporation (NASDAQ:BPMC - Get Free Report)'s share price hit a new 52-week high on Tuesday . The company traded as high as $128.78 and last traded at $128.52, with a volume of 1160364 shares changing hands. The stock had previously closed at $128.40.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wedbush cut shares of Blueprint Medicines from an "outperform" rating to a "neutral" rating and raised their target price for the stock from $128.00 to $129.00 in a report on Monday, June 2nd. Wall Street Zen upgraded Blueprint Medicines from a "sell" rating to a "hold" rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $129.00 price objective (down previously from $130.00) on shares of Blueprint Medicines in a research note on Monday, June 2nd. Citigroup upgraded shares of Blueprint Medicines from a "strong sell" rating to a "hold" rating and boosted their target price for the company from $83.00 to $129.00 in a research report on Wednesday, June 4th. Finally, Wells Fargo & Company downgraded shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating and decreased their price target for the stock from $143.00 to $129.00 in a research report on Tuesday, June 17th. Eighteen analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $128.06.

Blueprint Medicines Stock Down 0.0%

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 company has a market capitalization of $8.29 billion, a PE ratio of -51.98 and a beta of 0.89. The company's 50 day moving average is $114.35 and its two-hundred day moving average is $100.83.

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

Insider Transactions at Blueprint Medicines

In related news, Director Jeffrey W. Albers sold 5,000 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $101.14, for a total value of $505,700.00. Following the sale, the director owned 146,630 shares in the company, valued at approximately $14,830,158.20. The trade was a 3.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ariel Hurley sold 2,752 shares of Blueprint Medicines stock in a transaction on Monday, May 5th. The stock was sold at an average price of $103.13, for a total transaction of $283,813.76. Following the completion of the transaction, the insider directly owned 16,944 shares of the company's stock, valued at $1,747,434.72. The trade was a 13.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,300 shares of company stock valued at $1,249,453 in the last ninety days. Corporate insiders own 4.21% of the company's stock.

Hedge Funds Weigh In On Blueprint Medicines

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC purchased a new position in Blueprint Medicines during the fourth quarter worth $65,000. Thematics Asset Management purchased a new stake in Blueprint Medicines in the 4th quarter worth about $72,000. Covestor Ltd lifted its stake in Blueprint Medicines by 62.7% in the fourth quarter. Covestor Ltd now owns 973 shares of the biotechnology company's stock worth $85,000 after purchasing an additional 375 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Blueprint Medicines during the first quarter valued at approximately $87,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Blueprint Medicines during the fourth quarter valued at approximately $106,000.

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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