Blueprint Medicines Co. to Post Q2 2024 Earnings of ($1.10) Per Share, Leerink Partnrs Forecasts (NASDAQ:BPMC)

Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) - Analysts at Leerink Partnrs issued their Q2 2024 earnings per share (EPS) estimates for shares of Blueprint Medicines in a research note issued to investors on Monday, May 6th. Leerink Partnrs analyst A. Berens anticipates that the biotechnology company will post earnings of ($1.10) per share for the quarter. Leerink Partnrs has a "Market Perform" rating on the stock. The consensus estimate for Blueprint Medicines' current full-year earnings is ($5.38) per share. Leerink Partnrs also issued estimates for Blueprint Medicines' Q3 2024 earnings at ($0.87) EPS, Q4 2024 earnings at ($0.57) EPS, FY2024 earnings at ($3.82) EPS, FY2025 earnings at $1.71 EPS and FY2026 earnings at $4.42 EPS.

Other equities analysts have also issued reports about the company. SVB Leerink raised Blueprint Medicines from an "underperform" rating to a "market perform" rating and increased their price target for the company from $50.00 to $97.00 in a research note on Monday. Needham & Company LLC reaffirmed a "buy" rating and set a $97.00 target price on shares of Blueprint Medicines in a research note on Thursday, May 2nd. Piper Sandler boosted their price target on shares of Blueprint Medicines from $78.00 to $104.00 and gave the stock a "neutral" rating in a research report on Friday, May 3rd. Wedbush reissued an "outperform" rating and issued a $110.00 price target on shares of Blueprint Medicines in a report on Friday, April 26th. Finally, The Goldman Sachs Group lifted their price objective on shares of Blueprint Medicines from $121.00 to $168.00 and gave the stock a "buy" rating in a research note on Monday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Blueprint Medicines presently has an average rating of "Hold" and a consensus target price of $100.31.

Blueprint Medicines Price Performance

BPMC traded up $0.23 on Wednesday, reaching $108.78. The company had a trading volume of 478,484 shares, compared to its average volume of 774,819. Blueprint Medicines has a one year low of $43.89 and a one year high of $110.93. The company has a current ratio of 3.76, a quick ratio of 3.61 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $6.66 billion, a P/E ratio of -22.57 and a beta of 0.65. The company has a fifty day moving average of $92.17 and a 200-day moving average of $81.81.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($2.04) by $0.22. Blueprint Medicines had a negative return on equity of 193.48% and a negative net margin of 102.15%. The business had revenue of $71.96 million during the quarter, compared to analyst estimates of $67.34 million. During the same period in the prior year, the company posted ($2.65) EPS. The business's revenue for the quarter was up 85.5% compared to the same quarter last year.

Insider Buying and Selling

In other Blueprint Medicines news, insider Christopher K. Murray sold 621 shares of Blueprint Medicines stock in a transaction on Monday, March 4th. The shares were sold at an average price of $93.65, for a total transaction of $58,156.65. Following the completion of the sale, the insider now owns 36,374 shares of the company's stock, valued at approximately $3,406,425.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Christopher K. Murray sold 5,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $100.00, for a total value of $500,000.00. Following the transaction, the insider now owns 24,495 shares in the company, valued at $2,449,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher K. Murray sold 621 shares of Blueprint Medicines stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $93.65, for a total transaction of $58,156.65. Following the completion of the sale, the insider now owns 36,374 shares of the company's stock, valued at $3,406,425.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,123 shares of company stock valued at $9,554,679. Corporate insiders own 3.88% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BPMC. PNC Financial Services Group Inc. increased its position in Blueprint Medicines by 63.4% during the third quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company's stock worth $43,000 after buying an additional 329 shares during the last quarter. Cutler Group LLC CA raised its stake in shares of Blueprint Medicines by 1,685.7% in the 3rd quarter. Cutler Group LLC CA now owns 1,000 shares of the biotechnology company's stock valued at $50,000 after acquiring an additional 944 shares in the last quarter. Headlands Technologies LLC lifted its holdings in Blueprint Medicines by 105.2% in the 1st quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company's stock worth $63,000 after purchasing an additional 342 shares during the last quarter. Compass Wealth Management LLC bought a new stake in Blueprint Medicines during the fourth quarter worth approximately $69,000. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Blueprint Medicines by 95.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,550 shares of the biotechnology company's stock valued at $78,000 after purchasing an additional 757 shares during 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.