Blueprint Medicines (NASDAQ:BPMC) Sees Large Volume Increase - Should You Buy?

Blueprint Medicines Co. (NASDAQ:BPMC - Get Free Report) shares saw an uptick in trading volume on Wednesday . 2,511,645 shares were traded during trading, an increase of 137% from the previous session's volume of 1,058,637 shares.The stock last traded at $127.91 and had previously closed at $127.60.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BPMC shares. UBS Group raised their target price on shares of Blueprint Medicines from $88.00 to $129.00 and gave the company a "neutral" rating in a research note on Thursday. JMP Securities restated a "market perform" rating on shares of Blueprint Medicines in a research note on Tuesday. Citizens Jmp cut shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Scotiabank downgraded shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating and set a $135.00 price target for the company. in a report on Monday. Finally, Guggenheim downgraded shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Sixteen analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $129.71.

Blueprint Medicines Stock Down 0.2%

The firm has a fifty day moving average price of $93.96 and a 200 day moving average price of $95.39. 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 company has a market cap of $8.26 billion, a P/E ratio of -118.42 and a beta of 0.83.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its earnings results 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 for 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 revenue for the quarter was up 55.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.40 EPS. Equities research analysts forecast that Blueprint Medicines Co. will post -1.28 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction on Monday, May 5th. The stock was sold at an average price of $101.75, for a total transaction of $231,379.50. Following the completion of the sale, the chief operating officer now directly owns 66,992 shares of the company's stock, valued at $6,816,436. The trade was a 3.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ariel Hurley sold 2,752 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $103.13, for a total value of $283,813.76. Following the completion of the transaction, the insider now directly owns 16,944 shares in the company, valued at $1,747,434.72. The trade was a 13.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,574 shares of company stock worth $1,465,528 over the last three months. 4.21% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Blueprint Medicines

Hedge funds have recently added to or reduced their stakes in the stock. Cerity Partners LLC acquired a new stake in shares of Blueprint Medicines during the fourth quarter worth $291,000. Stephens Inc. AR acquired a new stake in Blueprint Medicines in the 4th quarter valued at approximately $321,000. Bank of New York Mellon Corp raised its position in Blueprint Medicines by 2.4% in the 4th quarter. Bank of New York Mellon Corp now owns 303,432 shares of the biotechnology company's stock valued at $26,465,000 after buying an additional 7,101 shares during the last quarter. KBC Group NV raised its position in Blueprint Medicines by 63.9% in the 4th quarter. KBC Group NV now owns 2,625 shares of the biotechnology company's stock valued at $229,000 after buying an additional 1,023 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Blueprint Medicines in the 4th quarter valued at approximately $21,104,000.

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.