Blueprint Medicines (NASDAQ:BPMC) Sets New 12-Month High - Here's Why

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

Analyst Ratings Changes

BPMC has been the topic of several research reports. Needham & Company LLC cut shares of Blueprint Medicines from a "buy" rating to a "hold" rating and set a $130.00 price target on the stock. in a research report on Monday, June 2nd. Wells Fargo & Company cut Blueprint Medicines from a "strong-buy" rating to a "hold" rating and reduced their price objective for the stock from $143.00 to $129.00 in a research note on Tuesday, June 17th. Wolfe Research lowered Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 3rd. JPMorgan Chase & Co. reissued a "neutral" rating and set a $129.00 target price (down previously from $130.00) on shares of Blueprint Medicines in a research report on Monday, June 2nd. Finally, HC Wainwright restated a "buy" rating and set a $135.00 price target on shares of Blueprint Medicines in a report on Friday, May 2nd. Eighteen investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $128.25.

Blueprint Medicines Price Performance

The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $8.36 billion, a price-to-earnings ratio of -52.41 and a beta of 0.89. The company has a 50-day moving average of $120.01 and a 200-day moving average of $103.36.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.32). The firm had revenue of $149.41 million during the quarter, compared to analysts' expectations of $158.31 million. Blueprint Medicines had a negative return on equity of 64.60% and a negative net margin of 27.70%. The business's revenue was up 55.5% on a year-over-year basis. During the same quarter last year, the business earned $1.40 EPS. On average, equities analysts predict that Blueprint Medicines Corporation will post -1.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Percy H. Carter sold 1,051 shares of the business's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $128.25, for a total value of $134,790.75. Following the completion of the transaction, the insider directly owned 53,155 shares in the company, valued at $6,817,128.75. The trade was a 1.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Christina Rossi sold 2,274 shares of the company's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $100.51, for a total transaction of $228,559.74. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last quarter, insiders sold 13,351 shares of company stock worth $1,384,244. Corporate insiders own 4.21% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BPMC. Proficio Capital Partners LLC acquired a new stake in shares of Blueprint Medicines in the fourth quarter valued at about $1,012,000. PNC Financial Services Group Inc. raised its holdings in Blueprint Medicines by 31.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,650 shares of the biotechnology company's stock valued at $144,000 after acquiring an additional 399 shares during the last quarter. Cibc World Markets Corp purchased a new position in Blueprint Medicines in the 4th quarter worth approximately $519,000. Xponance Inc. grew its position in shares of Blueprint Medicines by 12.3% in the fourth quarter. Xponance Inc. now owns 4,781 shares of the biotechnology company's stock valued at $417,000 after purchasing an additional 525 shares in the last quarter. Finally, Vinva Investment Management Ltd purchased a new stake in shares of Blueprint Medicines in the fourth quarter valued at approximately $170,000.

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.