Blueprint Medicines Co. (NASDAQ:BPMC) Sees Significant Decline in Short Interest

Blueprint Medicines Co. (NASDAQ:BPMC - Get Free Report) saw a significant drop in short interest in March. As of March 31st, there was short interest totalling 4,370,000 shares, a drop of 15.1% from the March 15th total of 5,150,000 shares. Based on an average daily trading volume, of 786,700 shares, the short-interest ratio is presently 5.6 days.

Blueprint Medicines Stock Down 5.4 %

Shares of NASDAQ:BPMC traded down $5.00 during midday trading on Friday, reaching $87.25. The company's stock had a trading volume of 484,715 shares, compared to its average volume of 706,040. The company has a quick ratio of 3.66, a current ratio of 3.76 and a debt-to-equity ratio of 1.60. The firm has a 50 day moving average of $88.58 and a 200-day moving average of $76.39. The firm has a market capitalization of $5.34 billion, a P/E ratio of -10.44 and a beta of 0.63. Blueprint Medicines has a 12-month low of $43.81 and a 12-month high of $101.00.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, beating analysts' consensus estimates of ($2.04) by $0.22. Blueprint Medicines had a negative net margin of 203.30% and a negative return on equity of 191.56%. The business had revenue of $71.96 million during the quarter, compared to the consensus estimate of $67.34 million. During the same quarter last year, the firm earned ($2.65) earnings per share. The business's revenue for the quarter was up 85.5% on a year-over-year basis. On average, research analysts anticipate that Blueprint Medicines will post -5.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Wedbush reiterated an "outperform" rating and issued a $97.00 target price on shares of Blueprint Medicines in a research report on Monday, February 5th. Barclays boosted their target price on Blueprint Medicines from $58.00 to $70.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 13th. Stifel Nicolaus lifted their price target on Blueprint Medicines from $95.00 to $97.00 and gave the stock a "buy" rating in a research note on Tuesday, January 9th. Needham & Company LLC reissued a "buy" rating and set a $97.00 price objective on shares of Blueprint Medicines in a research note on Monday, February 26th. Finally, Citigroup lifted their target price on shares of Blueprint Medicines from $54.00 to $65.00 and gave the stock a "sell" rating in a research note on Friday, February 16th. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $85.43.

Insider Buying and Selling

In related news, insider Christopher K. Murray sold 621 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $93.65, for a total value of $58,156.65. Following the sale, the insider now directly owns 36,374 shares of the company's stock, valued at $3,406,425.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Blueprint Medicines news, insider Christopher K. Murray sold 621 shares of the firm's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $93.65, for a total transaction of $58,156.65. Following the sale, the insider now owns 36,374 shares in the company, valued at $3,406,425.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tracey L. Mccain sold 5,194 shares of the company's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $90.69, for a total value of $471,043.86. Following the completion of the transaction, the executive vice president now owns 60,498 shares of the company's stock, valued at $5,486,563.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 117,289 shares of company stock worth $10,361,913. Corporate insiders own 3.88% of the company's stock.

Institutional Trading of Blueprint Medicines

Institutional investors have recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Blueprint Medicines in the 4th quarter worth $9,768,000. Vanguard Group Inc. increased its holdings in Blueprint Medicines by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 6,114,970 shares of the biotechnology company's stock worth $564,045,000 after buying an additional 147,827 shares in the last quarter. Readystate Asset Management LP bought a new position in Blueprint Medicines during the 4th quarter valued at about $3,692,000. Blue Owl Capital Holdings LP purchased a new stake in shares of Blueprint Medicines during the 4th quarter valued at about $6,631,000. Finally, Legal & General Group Plc grew its stake in shares of Blueprint Medicines by 0.9% in the fourth quarter. Legal & General Group Plc now owns 58,964 shares of the biotechnology company's stock worth $5,439,000 after acquiring an additional 508 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.