Blueprint Medicines (NASDAQ:BPMC) Sees Large Volume Increase - Still a Buy?

Blueprint Medicines Corporation (NASDAQ:BPMC - Get Free Report) shares saw unusually-strong trading volume on Thursday . Approximately 2,687,975 shares changed hands during mid-day trading, an increase of 99% from the previous session's volume of 1,354,059 shares.The stock last traded at $129.25 and had previously closed at $128.55.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BPMC shares. Guggenheim set a $132.00 target price on Blueprint Medicines in a report on Tuesday, June 3rd. Citigroup upgraded Blueprint Medicines from a "strong sell" rating to a "hold" rating and raised their target price for the stock from $83.00 to $129.00 in a report on Wednesday, June 4th. Morgan Stanley raised their target price on Blueprint Medicines from $102.00 to $129.00 and gave the stock an "equal weight" rating in a report on Thursday, June 5th. Wolfe Research cut Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 3rd. Finally, Needham & Company LLC cut Blueprint Medicines from a "buy" rating to a "hold" rating and set a $130.00 price objective on the stock. in a report on Monday, June 2nd. Eighteen research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $128.25.

Blueprint Medicines Price Performance

The stock has a market cap of $8.35 billion, a price-to-earnings ratio of -52.36 and a beta of 0.89. The company has a 50-day simple moving average of $116.53 and a two-hundred day simple moving average of $101.48. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.75 and a current ratio of 2.80.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $158.31 million. Blueprint Medicines had a negative return on equity of 64.60% and a negative net margin of 27.70%. The firm's revenue for the quarter was up 55.5% compared to the same quarter last year. During the same period last year, the firm earned $1.40 EPS. As a group, equities research analysts forecast that Blueprint Medicines Corporation will post -1.28 EPS for the current year.

Insider Buying and Selling

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $101.14, for a total transaction of $505,700.00. Following the transaction, the director owned 146,630 shares of the company's stock, valued at $14,830,158.20. The trade was a 3.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Christina Rossi sold 2,274 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $100.51, for a total value of $228,559.74. Following the transaction, the chief operating officer directly owned 64,718 shares in the company, valued at $6,504,806.18. The trade was a 3.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,351 shares of company stock worth $1,384,244 over the last 90 days. Company insiders own 4.21% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new position in shares of Blueprint Medicines during the 4th quarter worth approximately $65,000. Thematics Asset Management bought a new stake in Blueprint Medicines in the 4th quarter valued at $72,000. Covestor Ltd boosted its stake in Blueprint Medicines by 62.7% in the 4th quarter. Covestor Ltd now owns 973 shares of the biotechnology company's stock valued at $85,000 after purchasing an additional 375 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Blueprint Medicines in the 1st quarter valued at $87,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Blueprint Medicines in the 4th quarter valued at $106,000.

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.