Blueprint Medicines (NASDAQ:BPMC) Hits New 52-Week High - What's Next?

Blueprint Medicines Co. (NASDAQ:BPMC - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $128.15 and last traded at $127.79, with a volume of 46404971 shares trading hands. The stock had previously closed at $101.35.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BPMC shares. JMP Securities reiterated a "market perform" rating on shares of Blueprint Medicines in a research note on Tuesday. Wolfe Research downgraded Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Citizens Jmp lowered Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Stephens downgraded Blueprint Medicines from a "strong-buy" rating to a "hold" rating and lowered their price objective for the stock from $150.00 to $135.00 in a research report on Tuesday. Finally, Jefferies Financial Group initiated coverage on Blueprint Medicines in a report on Monday, March 17th. They issued a "buy" rating and a $135.00 target price on the stock. Fifteen analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $125.59.

Blueprint Medicines Stock Performance

The company's 50-day simple moving average is $93.17 and its 200 day simple moving average is $95.16. The stock has a market cap of $8.27 billion, a P/E ratio of -118.61 and a beta of 0.83. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced 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 business 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 13.19% and a negative return on equity of 77.49%. The company's revenue for the quarter was up 55.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.40 earnings per share. As a group, sell-side analysts expect that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

In other news, Director Jeffrey W. Albers sold 5,000 shares of the company'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 transaction, the director now owns 146,630 shares of the company's stock, valued at approximately $14,830,158.20. This represents a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ariel Hurley sold 2,752 shares of Blueprint Medicines stock in a transaction on Monday, May 5th. The shares were sold at an average price of $103.13, for a total value of $283,813.76. Following the sale, the insider now directly owns 16,944 shares of the company's stock, valued at $1,747,434.72. This represents a 13.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,574 shares of company stock worth $1,465,528 over the last three months. 4.21% of the stock is currently owned by insiders.

Institutional Trading of Blueprint Medicines

A number of large investors have recently modified their holdings of BPMC. Headlands Technologies LLC bought a new stake in Blueprint Medicines during the fourth quarter valued at approximately $65,000. Thematics Asset Management bought a new stake in shares of Blueprint Medicines during the 4th quarter worth $72,000. Covestor Ltd grew its position 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 acquiring an additional 375 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in Blueprint Medicines in the first quarter valued at $87,000. Finally, Asset Management One Co. Ltd. purchased a new stake in Blueprint Medicines during the fourth quarter valued at about $88,000.

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.