Blueprint Medicines (NASDAQ:BPMC) Reaches New 12-Month High - What's Next?

Blueprint Medicines Co. (NASDAQ:BPMC - Get Free Report)'s stock price 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 trading hands. The stock had previously closed at $127.97.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Citizens Jmp lowered shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 3rd. Jefferies Financial Group started coverage on Blueprint Medicines in a report on Monday, March 17th. They set a "buy" rating and a $135.00 target price on the stock. Morgan Stanley increased their target price on Blueprint Medicines from $102.00 to $129.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 5th. Stephens lowered Blueprint Medicines from a "strong-buy" rating to a "hold" rating and dropped their price target for the company from $150.00 to $135.00 in a research report on Tuesday, June 3rd. Finally, TD Cowen downgraded Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 3rd. Seventeen 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 stock. Based on data from MarketBeat.com, Blueprint Medicines presently has a consensus rating of "Hold" and a consensus target price of $129.35.

Blueprint Medicines Trading Up 0.2%

The stock has a fifty day simple moving average of $98.09 and a 200 day simple moving average of $96.55. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85. The firm has a market cap of $8.28 billion, a P/E ratio of -118.71 and a beta of 0.84.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The biotechnology company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.32). The business had revenue of $149.41 million during the quarter, compared to the consensus estimate of $158.31 million. Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. Blueprint Medicines's quarterly revenue was up 55.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.40 earnings per share. On average, research analysts expect that Blueprint Medicines Co. will post -1.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

In other news, insider Ariel Hurley sold 2,752 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $103.13, for a total transaction of $283,813.76. Following the completion of the sale, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Christina Rossi sold 2,274 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $95.02, for a total transaction of $216,075.48. Following the completion of the transaction, the chief operating officer now directly owns 69,266 shares in the company, valued at approximately $6,581,655.32. The trade was a 3.18% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,574 shares of company stock worth $1,465,528. Insiders own 4.21% of the company's stock.

Institutional Trading of Blueprint Medicines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BPMC. Rhumbline Advisers boosted 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 worth $8,137,000 after acquiring an additional 5,402 shares during the last quarter. Strs Ohio purchased a new stake in shares of Blueprint Medicines in the 1st quarter worth $593,000. Intech Investment Management LLC raised its holdings in Blueprint Medicines by 26.7% in the 1st quarter. Intech Investment Management LLC now owns 40,014 shares of the biotechnology company's stock worth $3,542,000 after purchasing an additional 8,443 shares during the period. SCS Capital Management LLC purchased a new position in Blueprint Medicines during the first quarter valued at $1,342,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Blueprint Medicines by 1.9% during 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 valued at $21,633,000 after purchasing an additional 4,465 shares in the last quarter.

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.