Blueprint Medicines (NASDAQ:BPMC) Hits New 1-Year High - What's Next?

Shares of Blueprint Medicines Corporation (NASDAQ:BPMC - Get Free Report) hit a new 52-week high during trading on Wednesday . The stock traded as high as $129.65 and last traded at $129.28, with a volume of 25678550 shares traded. The stock had previously closed at $129.35.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BPMC shares. Needham & Company LLC cut Blueprint Medicines from a "buy" rating to a "hold" rating and set a $130.00 target price on the stock. in a report on Monday, June 2nd. Citizens Jmp cut Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 3rd. Stephens cut Blueprint Medicines from a "strong-buy" rating to a "hold" rating and cut their target price for the stock from $150.00 to $135.00 in a report on Tuesday, June 3rd. Wedbush cut Blueprint Medicines from an "outperform" rating to a "neutral" rating and increased their target price for the stock from $128.00 to $129.00 in a report on Monday, June 2nd. Finally, UBS Group increased their target price on Blueprint Medicines from $88.00 to $129.00 and gave the stock a "neutral" rating in a report on Thursday, June 5th. Eighteen investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Blueprint Medicines presently has an average rating of "Hold" and a consensus price target of $128.25.

Blueprint Medicines Price Performance

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 firm has a fifty day moving average price of $119.38 and a two-hundred day moving average price of $102.84. The stock has a market capitalization of $8.36 billion, a P/E ratio of -52.42 and a beta of 0.89.

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). Blueprint Medicines had a negative net margin of 27.70% and a negative return on equity of 64.60%. The business had revenue of $149.41 million for the quarter, compared to analysts' expectations of $158.31 million. During the same period last year, the business earned $1.40 earnings per share. The company's quarterly revenue was up 55.5% on a year-over-year basis. On average, analysts expect that Blueprint Medicines Corporation will post -1.28 EPS for the current year.

Insider Transactions at Blueprint Medicines

In related news, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $100.51, for a total transaction of $228,559.74. Following the sale, the chief operating officer owned 64,718 shares of the company's stock, valued at approximately $6,504,806.18. This trade represents a 3.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ariel Hurley sold 2,752 shares of Blueprint Medicines stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $103.13, for a total value of $283,813.76. Following the completion of the sale, the insider directly owned 16,944 shares in the company, valued at approximately $1,747,434.72. The trade was a 13.97% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,351 shares of company stock valued at $1,384,244. Company insiders own 4.21% of the company's stock.

Institutional Trading of Blueprint Medicines

A number of large investors have recently added to or reduced their stakes in the company. Intrust Bank NA boosted its holdings in Blueprint Medicines by 3.4% during the 1st quarter. Intrust Bank NA now owns 3,557 shares of the biotechnology company's stock valued at $315,000 after acquiring an additional 118 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Blueprint Medicines by 4.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,497 shares of the biotechnology company's stock valued at $449,000 after acquiring an additional 144 shares during the period. Fifth Third Bancorp boosted its holdings in Blueprint Medicines by 4.7% during the 1st quarter. Fifth Third Bancorp now owns 3,221 shares of the biotechnology company's stock valued at $285,000 after acquiring an additional 146 shares during the period. Covestor Ltd boosted its holdings in Blueprint Medicines by 15.9% during the 1st quarter. Covestor Ltd now owns 1,128 shares of the biotechnology company's stock valued at $100,000 after acquiring an additional 155 shares during the period. Finally, Torray Investment Partners LLC boosted its holdings in Blueprint Medicines by 1.1% during the 1st quarter. Torray Investment Partners LLC now owns 16,679 shares of the biotechnology company's stock valued at $1,476,000 after acquiring an additional 180 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.