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 non-advanced SM and other mast cell disorders; and Fisogatinib, an orally available and potent inhibitor for the treatment of hepatocellular carcinoma. It is also developing GAVRETO for the treatment of RET fusion-positive non-small cell lung cancer, altered solid tumors, medullary thyroid carcinoma, and other solid tumors; BLU-701 and BLU-945 for the treatment of epidermal growth factor receptor driven non-small-cell lung carcinoma (NSCLC); and BLU-451 to treat NSCLC in patients with epidermal growth factor receptor gene (EGFR) exon 20 insertion mutations. In addition, the company is developing BLU-782, for the treatment of fibrodysplasia ossificans progressive; BLU- 222 to treat patients with cyclin E aberrant cancers; and BLU-852 for the treatment of advanced cancers. It has collaboration and license agreements with Clementia Pharmaceuticals, Inc.; Proteovant Therapeutics; CStone Pharmaceuticals; Genentech, Inc.; F. Hoffmann-La Roche Ltd and Hoffmann-La Roche Inc.; and Zai Lab (Shanghai) Co., Ltd. The company was formerly known as Hoyle Pharmaceuticals, Inc. and changed its name to Blueprint Medicines Corporation in June 2011. Blueprint Medicines Corporation was incorporated in 2008 and is headquartered in Cambridge, Massachusetts.
Analysts Set New Price Targets
A number of research firms recently issued reports on BPMC. Citigroup downgraded Blueprint Medicines from a "neutral" rating to a "sell" rating and lowered their target price for the company from $68.00 to $41.00 in a research report on Thursday, June 9th. Piper Sandler lowered their target price on shares of Blueprint Medicines from $65.00 to $59.00 in a report on Tuesday, August 2nd. The Goldman Sachs Group increased their price target on shares of Blueprint Medicines from $126.00 to $143.00 and gave the company a "buy" rating in a research note on Wednesday, August 3rd. Raymond James lowered their price objective on shares of Blueprint Medicines from $133.00 to $115.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, August 3rd. Finally, Morgan Stanley cut their target price on shares of Blueprint Medicines from $92.00 to $65.00 and set an "equal weight" rating for the company in a research note on Tuesday, June 14th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Blueprint Medicines presently has an average rating of "Moderate Buy" and an average price target of $90.27.
Blueprint Medicines Stock Performance
Shares of BPMC Stock traded up $5.57 on Friday, hitting $69.66. The company's stock had a trading volume of 1,391,041 shares, compared to its average volume of 786,103. Blueprint Medicines has a fifty-two week low of $43.46 and a fifty-two week high of $117.86. The stock's 50 day moving average is $55.94 and its 200-day moving average is $61.05. The company has a market capitalization of $4.15 billion, a PE ratio of -5.88 and a beta of 0.94.
Blueprint Medicines (NASDAQ:BPMC - Get Rating) last announced its earnings results on Tuesday, August 2nd. The biotechnology company reported ($2.68) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.23) by ($0.45). Blueprint Medicines had a negative return on equity of 45.89% and a negative net margin of 304.41%. The business had revenue of $36.55 million for the quarter, compared to analyst estimates of $37.61 million. During the same quarter in the previous year, the company earned ($1.86) EPS. The business's revenue for the quarter was up 33.9% on a year-over-year basis. On average, research analysts forecast that Blueprint Medicines will post -9.18 earnings per share for the current year.
Insiders Place Their Bets
In other news, SVP Christopher K. Murray sold 2,500 shares of the company's stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $60.44, for a total transaction of $151,100.00. Following the completion of the sale, the senior vice president now directly owns 21,320 shares in the company, valued at approximately $1,288,580.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Jeffrey W. Albers sold 10,000 shares of the stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $70.07, for a total transaction of $700,700.00. Following the sale, the director now owns 183,243 shares in the company, valued at approximately $12,839,837.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Christopher K. Murray sold 2,500 shares of the business's stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $60.44, for a total transaction of $151,100.00. Following the transaction, the senior vice president now owns 21,320 shares of the company's stock, valued at $1,288,580.80. The disclosure for this sale can be found here. Insiders have sold a total of 34,408 shares of company stock worth $2,334,022 in the last 90 days. Company insiders own 3.42% of the company's stock.
