Shares of Blueprint Medicines Co. (NASDAQ:BPMC - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $128.34 and last traded at $128.12, with a volume of 3156933 shares changing hands. The stock had previously closed at $127.97.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on BPMC. TD Cowen cut shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 3rd. Citizens Jmp lowered shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 3rd. Morgan Stanley upped their price target on shares of Blueprint Medicines from $102.00 to $129.00 and gave the company an "equal weight" rating in a research report on Thursday, June 5th. Citigroup upgraded shares of Blueprint Medicines from a "strong sell" rating to a "hold" rating and upped their price target for the company from $83.00 to $129.00 in a research report on Wednesday, June 4th. Finally, Jefferies Financial Group assumed coverage on shares of Blueprint Medicines in a research note on Monday, March 17th. They set a "buy" rating and a $135.00 price objective for the company. Seventeen equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $129.35.
Check Out Our Latest Report on BPMC
Blueprint Medicines Stock Down 0.2%
The firm has a market capitalization of $8.26 billion, a PE ratio of -118.48 and a beta of 0.84. The business's 50 day simple moving average is $100.02 and its 200 day simple moving average is $97.02. 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 released its quarterly earnings data 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 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 period last year, the firm earned $1.40 earnings per share. Blueprint Medicines's quarterly revenue was up 55.5% on a year-over-year basis. On average, equities research analysts forecast that Blueprint Medicines Co. will post -1.28 earnings per share for the current year.
Insiders Place Their Bets
In related news, COO Christina Rossi sold 2,274 shares of the firm's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $101.75, for a total transaction of $231,379.50. Following the sale, the chief operating officer now owns 66,992 shares in the company, valued at approximately $6,816,436. This trade represents a 3.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey W. Albers sold 5,000 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $101.14, for a total transaction of $505,700.00. Following the transaction, the director now directly owns 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 14,574 shares of company stock valued at $1,465,528. Insiders own 4.21% of the company's stock.
Hedge Funds Weigh In On Blueprint Medicines
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BPMC. Headlands Technologies LLC purchased a new position in Blueprint Medicines during the fourth quarter valued at $65,000. Thematics Asset Management purchased a new position in Blueprint Medicines during the fourth quarter valued at $72,000. Covestor Ltd lifted its holdings in Blueprint Medicines by 62.7% during the fourth quarter. Covestor Ltd now owns 973 shares of the biotechnology company's stock valued at $85,000 after purchasing an additional 375 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Blueprint Medicines in the first quarter worth about $87,000. Finally, Asset Management One Co. Ltd. purchased a new position in shares of Blueprint Medicines in the fourth quarter worth about $88,000.
About Blueprint Medicines
(
Get Free Report)
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.
Recommended Stories
Before you consider Blueprint Medicines, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Blueprint Medicines wasn't on the list.
While Blueprint Medicines currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
