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

Shares of Blueprint Medicines Co. (NASDAQ:BPMC - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 2,511,645 shares changed hands during mid-day 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.

Analyst Ratings Changes

A number of brokerages have weighed in on BPMC. HC Wainwright reiterated a "buy" rating and set a $135.00 price target on shares of Blueprint Medicines in a report on Friday, May 2nd. Wolfe Research cut shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Citigroup upgraded shares of Blueprint Medicines from a "strong sell" rating to a "hold" rating and upped their target price for the stock from $83.00 to $129.00 in a research note on Wednesday. Citizens Jmp cut Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Finally, Scotiabank cut shares of Blueprint Medicines from a "strong-buy" rating to a "sector perform" rating and set a $135.00 price target on the stock. in a report on Monday, June 2nd. Seventeen equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $129.35.

Blueprint Medicines Price Performance

The business has a 50 day simple moving average of $95.59 and a two-hundred day simple moving average of $95.88. The firm has a market capitalization of $8.26 billion, a P/E ratio of -118.38 and a beta of 0.84. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.32). The company 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%. The firm's revenue for the quarter was up 55.5% on a year-over-year basis. During the same quarter last year, the company posted $1.40 earnings per share. On average, sell-side analysts expect that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.

Insider Activity

In related news, Director Jeffrey W. Albers sold 5,000 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $101.14, for a total value of $505,700.00. Following the transaction, the director now owns 146,630 shares of the company's stock, valued at $14,830,158.20. This represents a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $101.75, for a total value of $231,379.50. Following the sale, the chief operating officer now directly owns 66,992 shares of the company's stock, valued at approximately $6,816,436. This trade represents a 3.28% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,574 shares of company stock worth $1,465,528. 4.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Intrust Bank NA boosted its stake in shares of Blueprint Medicines by 3.4% in the 1st quarter. Intrust Bank NA now owns 3,557 shares of the biotechnology company's stock valued at $315,000 after purchasing an additional 118 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Blueprint Medicines by 4.7% during the first quarter. Fifth Third Bancorp now owns 3,221 shares of the biotechnology company's stock valued at $285,000 after buying an additional 146 shares during the last quarter. Covestor Ltd increased its holdings in shares of Blueprint Medicines by 15.9% in 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 period. Torray Investment Partners LLC lifted its stake in shares of Blueprint Medicines by 1.1% in 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 last quarter. Finally, Headlands Technologies LLC boosted its holdings in Blueprint Medicines by 25.0% during the 1st quarter. Headlands Technologies LLC now owns 936 shares of the biotechnology company's stock valued at $83,000 after acquiring an additional 187 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.