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

Blueprint Medicines Co. (NASDAQ:BPMC - Get Free Report) was the recipient of a significant increase in short interest in the month of April. As of April 30th, there was short interest totalling 4,540,000 shares, an increase of 6.8% from the April 15th total of 4,250,000 shares. Based on an average daily volume of 830,500 shares, the days-to-cover ratio is presently 5.5 days.

Analysts Set New Price Targets

BPMC has been the topic of a number of analyst reports. Barclays upped their price target on Blueprint Medicines from $70.00 to $75.00 and gave the company an "equal weight" rating in a research report on Friday, May 3rd. JMP Securities increased their target price on Blueprint Medicines from $114.00 to $125.00 and gave the stock a "market outperform" rating in a report on Friday, May 3rd. Leerink Partnrs upgraded Blueprint Medicines from an "underperform" rating to a "market perform" rating in a report on Monday, May 6th. HC Wainwright increased their target price on Blueprint Medicines from $125.00 to $135.00 and gave the stock a "buy" rating in a report on Friday, May 3rd. Finally, Needham & Company LLC restated a "buy" rating and set a $97.00 target price on shares of Blueprint Medicines in a report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Blueprint Medicines has an average rating of "Moderate Buy" and a consensus price target of $102.65.

Insider Buying and Selling

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 25,073 shares of the business's stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $87.28, for a total value of $2,188,371.44. Following the sale, the director now owns 176,050 shares of the company's stock, valued at approximately $15,365,644. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Jeffrey W. Albers sold 25,073 shares of the firm's stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $87.28, for a total transaction of $2,188,371.44. Following the completion of the transaction, the director now owns 176,050 shares in the company, valued at approximately $15,365,644. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael Landsittel sold 13,734 shares of the company's stock in a transaction on Friday, March 15th. The shares were sold at an average price of $87.78, for a total value of $1,205,570.52. Following the completion of the sale, the chief financial officer now owns 47,286 shares in the company, valued at $4,150,765.08. The disclosure for this sale can be found here. Insiders sold a total of 104,123 shares of company stock valued at $9,554,679 over the last ninety days. 3.88% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blueprint Medicines

Several hedge funds have recently added to or reduced their stakes in BPMC. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Blueprint Medicines during the first quarter worth about $6,777,000. Kennedy Capital Management LLC acquired a new stake in shares of Blueprint Medicines during the first quarter worth about $220,000. Redmile Group LLC acquired a new stake in shares of Blueprint Medicines during the first quarter worth about $10,725,000. Bellevue Group AG acquired a new stake in shares of Blueprint Medicines during the first quarter worth about $484,000. Finally, Price T Rowe Associates Inc. MD raised its position in Blueprint Medicines by 15.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,250,823 shares of the biotechnology company's stock valued at $592,954,000 after buying an additional 821,868 shares during the last quarter.

Blueprint Medicines Trading Down 0.1 %

NASDAQ:BPMC traded down $0.15 during mid-day trading on Thursday, hitting $106.64. The company had a trading volume of 401,550 shares, compared to its average volume of 758,464. Blueprint Medicines has a fifty-two week low of $43.89 and a fifty-two week high of $111.02. The business's fifty day moving average is $94.25 and its two-hundred day moving average is $84.19. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.61 and a current ratio of 3.76. The firm has a market cap of $6.53 billion, a P/E ratio of -22.17 and a beta of 0.65.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last released its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $71.96 million for the quarter, compared to analyst estimates of $67.34 million. During the same quarter in the prior year, the firm posted ($2.65) earnings per share. The company's quarterly revenue was up 85.5% on a year-over-year basis. As a group, research analysts expect that Blueprint Medicines will post -5.15 earnings per share for the current year.

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.