Blueprint Medicines (NASDAQ:BPMC) Sees Large Volume Increase - What's Next?

Shares of Blueprint Medicines Corporation (NASDAQ:BPMC - Get Free Report) saw strong trading volume on Thursday . 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 research analysts have commented on the company. Guggenheim set a $132.00 price objective on Blueprint Medicines in a research report on Tuesday, June 3rd. JMP Securities reiterated a "market perform" rating on shares of Blueprint Medicines in a research report on Tuesday, June 3rd. Citigroup upgraded Blueprint Medicines from a "strong sell" rating to a "hold" rating and increased their price objective for the company from $83.00 to $129.00 in a research report on Wednesday, June 4th. Needham & Company LLC lowered Blueprint Medicines from a "buy" rating to a "hold" rating and set a $130.00 price objective on the stock. in a research report on Monday, June 2nd. Finally, HC Wainwright restated a "buy" rating and issued a $135.00 price target on shares of Blueprint Medicines in a research report on Friday, May 2nd. Eighteen research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Blueprint Medicines has an average rating of "Hold" and a consensus price target of $128.25.

Blueprint Medicines Price Performance

The firm has a market cap of $8.35 billion, a price-to-earnings ratio of -52.35 and a beta of 0.89. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 1.01. The company has a 50 day moving average of $117.02 and a 200 day moving average of $101.90.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its quarterly earnings data 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 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 business's quarterly revenue was up 55.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.40 EPS. Equities research analysts predict that Blueprint Medicines Corporation will post -1.28 EPS for the current fiscal year.

Insider Transactions at Blueprint Medicines

In other news, COO Christina Rossi sold 2,274 shares of the business's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $100.51, for a total value of $228,559.74. Following the sale, 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ariel Hurley sold 2,752 shares of the business's 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 sale, the insider owned 16,944 shares in the company, valued at approximately $1,747,434.72. This trade represents a 13.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,351 shares of company stock valued at $1,384,244. 4.21% of the stock is currently owned by company insiders.

Institutional Trading of Blueprint Medicines

Institutional investors have recently modified their holdings of the company. Headlands Technologies LLC bought a new stake in shares of Blueprint Medicines in the fourth quarter valued at about $65,000. Thematics Asset Management acquired a new stake in shares of Blueprint Medicines in the fourth quarter valued at about $72,000. Covestor Ltd increased its position in shares of Blueprint Medicines by 62.7% in the fourth quarter. Covestor Ltd now owns 973 shares of the biotechnology company's stock valued at $85,000 after acquiring an additional 375 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Blueprint Medicines in the first quarter valued at about $87,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Blueprint Medicines in the fourth quarter valued at about $106,000.

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.