Blueprint Medicines (NASDAQ:BPMC) Reaches New 1-Year High - Time to Buy?

Blueprint Medicines Corporation (NASDAQ:BPMC - Get Free Report)'s stock price hit a new 52-week high during trading 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.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BPMC. Wells Fargo & Company cut Blueprint Medicines from a "strong-buy" rating to a "hold" rating and decreased their target price for the stock from $143.00 to $129.00 in a report on Tuesday, June 17th. Wall Street Zen raised Blueprint Medicines from a "sell" rating to a "hold" rating in a research note on Friday, May 2nd. TD Cowen downgraded Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 3rd. JMP Securities reiterated a "market perform" rating on shares of Blueprint Medicines in a report on Tuesday, June 3rd. Finally, Jefferies Financial Group initiated coverage on shares of Blueprint Medicines in a research report on Monday, March 17th. They issued a "buy" rating and a $135.00 target price on the stock. Eighteen research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $128.25.

Blueprint Medicines Trading Down 0.0%

The business has a 50-day moving average of $116.53 and a 200-day moving average of $101.48. 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 stock has a market cap of $8.35 billion, a price-to-earnings ratio of -52.36 and a beta of 0.89.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its quarterly 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). Blueprint Medicines had a negative net margin of 27.70% and a negative return on equity of 64.60%. The firm had revenue of $149.41 million for the quarter, compared to analyst estimates of $158.31 million. During the same quarter in the prior year, the firm earned $1.40 earnings per share. The firm's quarterly revenue was up 55.5% compared to the same quarter last year. As a group, research analysts forecast that Blueprint Medicines Corporation will post -1.28 earnings per share for the current year.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, insider Percy H. Carter sold 1,051 shares of the stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $128.25, for a total transaction of $134,790.75. Following the transaction, the insider directly owned 53,155 shares of the company's stock, valued at $6,817,128.75. This represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey W. Albers sold 5,000 shares of the business's stock in a transaction dated 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 sale, the director directly owned 146,630 shares of the company's stock, valued at $14,830,158.20. This represents a 3.30% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,351 shares of company stock valued at $1,384,244. 4.21% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new stake in shares of Blueprint Medicines in the fourth quarter worth $65,000. Thematics Asset Management acquired a new stake in shares of Blueprint Medicines in the fourth quarter valued at about $72,000. Covestor Ltd grew its position in Blueprint Medicines by 62.7% in the 4th 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 bought a new position in shares of Blueprint Medicines during the 1st quarter worth about $87,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Blueprint Medicines during the fourth quarter valued at about $106,000.

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.