Blueprint Medicines (NASDAQ:BPMC) Sets New 1-Year High - Here's Why

Blueprint Medicines Co. (NASDAQ:BPMC - Get Free Report) hit a new 52-week high on Tuesday . The stock 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 equities analysts have issued reports on the company. UBS Group lifted their price target on Blueprint Medicines from $88.00 to $129.00 and gave the company a "neutral" rating in a research note on Thursday. Citigroup upgraded Blueprint Medicines from a "strong sell" rating to a "hold" rating and raised their target price for the company from $83.00 to $129.00 in a report on Wednesday. Jefferies Financial Group started coverage on Blueprint Medicines in a report on Monday, March 17th. They set a "buy" rating and a $135.00 price target for the company. Stephens lowered Blueprint Medicines from a "strong-buy" rating to a "hold" rating and lowered their price target for the company from $150.00 to $135.00 in a research report on Tuesday. Finally, Wedbush cut Blueprint Medicines from an "outperform" rating to a "neutral" rating and raised their price objective for the company from $128.00 to $129.00 in a research note on Monday. Seventeen analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $129.35.

Blueprint Medicines Stock Performance

The company's 50-day moving average is $95.59 and its two-hundred day moving average is $95.88. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15. The company has a market cap of $8.26 billion, a P/E ratio of -118.38 and a beta of 0.83.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last released its earnings results 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). Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. The company had revenue of $149.41 million during the quarter, compared to analysts' expectations of $158.31 million. During the same quarter in the previous year, the firm earned $1.40 earnings per share. The firm's revenue was up 55.5% compared to the same quarter last year. Equities analysts predict that Blueprint Medicines Co. will post -1.28 EPS for the current year.

Insider Buying and Selling at Blueprint Medicines

In other news, COO Christina Rossi sold 2,274 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $101.75, for a total transaction of $231,379.50. Following the transaction, the chief operating officer now owns 66,992 shares of the company's stock, valued at $6,816,436. This represents a 3.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey W. Albers sold 5,000 shares of Blueprint Medicines 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 now directly owns 146,630 shares of the company's stock, valued at approximately $14,830,158.20. This trade represents a 3.30% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,574 shares of company stock valued at $1,465,528. Company insiders own 4.21% of the company's stock.

Hedge Funds Weigh In On Blueprint Medicines

Large investors have recently modified their holdings of the business. Rhumbline Advisers lifted its stake in shares of Blueprint Medicines by 6.2% during the 1st quarter. Rhumbline Advisers now owns 91,933 shares of the biotechnology company's stock valued at $8,137,000 after buying an additional 5,402 shares in the last quarter. Strs Ohio purchased a new position in Blueprint Medicines in the 1st quarter valued at approximately $593,000. Intech Investment Management LLC raised its holdings in Blueprint Medicines by 26.7% during the 1st quarter. Intech Investment Management LLC now owns 40,014 shares of the biotechnology company's stock valued at $3,542,000 after acquiring an additional 8,443 shares during the period. SCS Capital Management LLC purchased a new stake in shares of Blueprint Medicines during the first quarter worth $1,342,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Blueprint Medicines by 1.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 244,411 shares of the biotechnology company's stock worth $21,633,000 after acquiring an additional 4,465 shares during the period.

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.