Blueprint Medicines (NASDAQ:BPMC) Sees Strong Trading Volume - Time to Buy?

Blueprint Medicines Co. (NASDAQ:BPMC - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 1,145,293 shares traded hands during mid-day trading, an increase of 0% from the previous session's volume of 1,139,685 shares.The stock last traded at $127.86 and had previously closed at $127.97.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BPMC shares. Citigroup upgraded shares of Blueprint Medicines from a "strong sell" rating to a "hold" rating and upped their target price for the company from $83.00 to $129.00 in a research note on Wednesday, June 4th. HC Wainwright reaffirmed a "buy" rating and issued a $135.00 price target on shares of Blueprint Medicines in a report on Friday, May 2nd. Citizens Jmp cut shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 3rd. Wedbush cut shares of Blueprint Medicines from an "outperform" rating to a "neutral" rating and upped their price target for the company from $128.00 to $129.00 in a report on Monday, June 2nd. Finally, Guggenheim set a $132.00 price target on shares of Blueprint Medicines in a report on Tuesday, June 3rd. Seventeen investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Blueprint Medicines currently has a consensus rating of "Hold" and a consensus target price of $129.35.

Blueprint Medicines Stock Performance

The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85. The stock's fifty day moving average is $100.02 and its two-hundred day moving average is $97.02. The firm has a market cap of $8.26 billion, a price-to-earnings ratio of -118.48 and a beta of 0.84.

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 for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.32). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. The firm had revenue of $149.41 million during the quarter, compared to analyst estimates of $158.31 million. During the same period last year, the business earned $1.40 EPS. The firm's revenue was up 55.5% on a year-over-year basis. On average, analysts expect that Blueprint Medicines Co. will post -1.28 earnings per share for the current fiscal year.

Insider Activity at Blueprint Medicines

In related news, Director Jeffrey W. Albers sold 5,000 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $101.14, for a total value of $505,700.00. Following the completion of the transaction, the director now owns 146,630 shares in the company, valued at $14,830,158.20. This represents a 3.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Christina Rossi sold 2,274 shares of the stock in a transaction dated 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 of the company's stock, valued at $6,581,655.32. This represents a 3.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,574 shares of company stock worth $1,465,528 in the last 90 days. Corporate insiders own 4.21% of the company's stock.

Hedge Funds Weigh In On Blueprint Medicines

Large investors have recently made changes to their positions in the business. Cerity Partners LLC bought a new position in shares of Blueprint Medicines during the 4th quarter valued at about $291,000. Stephens Inc. AR bought a new position in shares of Blueprint Medicines during the 4th quarter valued at about $321,000. Bank of New York Mellon Corp boosted its position in shares of Blueprint Medicines by 2.4% during 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 purchasing an additional 7,101 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Blueprint Medicines during the 4th quarter valued at about $21,104,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Blueprint Medicines by 31.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,650 shares of the biotechnology company's stock valued at $144,000 after purchasing an additional 399 shares in the last quarter.

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.