Blueprint Medicines (NASDAQ:BPMC) Sees Unusually-High Trading Volume - Here's What Happened

Blueprint Medicines Co. (NASDAQ:BPMC - Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 1,262,327 shares changed hands during trading, an increase of 5% from the previous session's volume of 1,205,927 shares.The stock last traded at $128.01 and had previously closed at $127.96.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BPMC. Citigroup upgraded Blueprint Medicines from a "strong sell" rating to a "hold" rating and boosted their target price for the stock from $83.00 to $129.00 in a report on Wednesday, June 4th. Jefferies Financial Group began 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. Wolfe Research downgraded shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 3rd. Stephens lowered shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating and reduced their target price for the company from $150.00 to $135.00 in a report on Tuesday, June 3rd. Finally, Scotiabank downgraded Blueprint Medicines from a "strong-buy" rating to a "sector perform" rating and set a $135.00 price target for the company. in a report on Monday, June 2nd. Eighteen equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $128.06.

Blueprint Medicines Trading Down 0.0%

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 firm has a market cap of $8.28 billion, a price-to-earnings ratio of -118.73 and a beta of 0.84. The company has a 50-day moving average price of $101.00 and a 200 day moving average price of $97.27.

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 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 firm had revenue of $149.41 million for the quarter, compared to analyst estimates of $158.31 million. During the same period in the previous year, the business posted $1.40 EPS. Blueprint Medicines's revenue for the quarter was up 55.5% on a year-over-year basis. As a group, research analysts anticipate that Blueprint Medicines Co. will post -1.28 earnings per share for the current fiscal year.

Insider Transactions at Blueprint Medicines

In other news, insider Ariel Hurley sold 2,752 shares of Blueprint Medicines stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $103.13, for a total value of $283,813.76. Following the transaction, the insider now owns 16,944 shares of the company's stock, valued at $1,747,434.72. This trade represents a 13.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Christina Rossi sold 2,274 shares of the firm's stock in a transaction on Monday, March 24th. The shares were 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 owns 69,266 shares in the company, valued at $6,581,655.32. The trade was a 3.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,574 shares of company stock worth $1,465,528 in the last 90 days. 4.21% of the stock is owned by insiders.

Hedge Funds Weigh In On Blueprint Medicines

A number of institutional investors have recently made changes to their positions in BPMC. Intrust Bank NA increased its position in shares of Blueprint Medicines by 3.4% during the 1st quarter. Intrust Bank NA now owns 3,557 shares of the biotechnology company's stock worth $315,000 after purchasing an additional 118 shares in the last quarter. Fifth Third Bancorp grew its stake in Blueprint Medicines by 4.7% during the first quarter. Fifth Third Bancorp now owns 3,221 shares of the biotechnology company's stock worth $285,000 after buying an additional 146 shares during the last quarter. Covestor Ltd grew its stake in Blueprint Medicines by 15.9% during the first quarter. Covestor Ltd now owns 1,128 shares of the biotechnology company's stock worth $100,000 after buying an additional 155 shares during the last quarter. Torray Investment Partners LLC increased its holdings in shares of Blueprint Medicines by 1.1% during the first quarter. Torray Investment Partners LLC now owns 16,679 shares of the biotechnology company's stock worth $1,476,000 after buying an additional 180 shares in the last quarter. Finally, Headlands Technologies LLC grew its position in Blueprint Medicines by 25.0% during the 1st quarter. Headlands Technologies LLC now owns 936 shares of the biotechnology company's stock worth $83,000 after acquiring an additional 187 shares during 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.