Blueprint Medicines (NASDAQ:BPMC) Trading Down 3.6% – Here’s Why

Blueprint Medicines Co. (NASDAQ:BPMC)’s share price dropped 3.6% on Thursday . The company traded as low as $87.55 and last traded at $88.50. Approximately 122,851 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 683,709 shares. The stock had previously closed at $91.78.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BPMC shares. Guggenheim reissued a “buy” rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. StockNews.com raised shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Wedbush restated an “outperform” rating and issued a $135.00 target price on shares of Blueprint Medicines in a report on Thursday, November 14th. JPMorgan Chase & Co. assumed coverage on shares of Blueprint Medicines in a research note on Thursday, November 14th. They set an “overweight” rating and a $126.00 price target on the stock. Finally, JMP Securities restated a “market outperform” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $122.11.

Blueprint Medicines Stock Performance

The firm has a fifty day moving average price of $92.41 and a 200 day moving average price of $97.29. The firm has a market capitalization of $5.51 billion, a PE ratio of -41.12 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.08. The company had revenue of $128.20 million during the quarter, compared to analyst estimates of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The company’s revenue for the quarter was up 126.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.20) earnings per share. Research analysts anticipate that Blueprint Medicines Co. will post -3.68 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Christina Rossi sold 2,274 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $95.10, for a total transaction of $216,257.40. Following the completion of the sale, the chief operating officer now owns 71,657 shares in the company, valued at $6,814,580.70. This represents a 3.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ariel Hurley sold 1,819 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $93.26, for a total transaction of $169,639.94. Following the completion of the sale, the insider now owns 14,967 shares in the company, valued at approximately $1,395,822.42. The trade was a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,079 shares of company stock worth $937,697 in the last three months. 4.21% of the stock is owned by insiders.

Institutional Trading of Blueprint Medicines

Institutional investors and hedge funds have recently modified their holdings of the company. Exome Asset Management LLC bought a new position in Blueprint Medicines during the 3rd quarter valued at about $3,395,000. Franklin Resources Inc. increased its holdings in shares of Blueprint Medicines by 0.7% during the third quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company’s stock worth $3,259,000 after buying an additional 265 shares in the last quarter. Synovus Financial Corp raised its stake in shares of Blueprint Medicines by 4.0% in the third quarter. Synovus Financial Corp now owns 24,047 shares of the biotechnology company’s stock valued at $2,224,000 after acquiring an additional 922 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Blueprint Medicines in the 3rd quarter worth approximately $202,000. Finally, Teachers Retirement System of The State of Kentucky grew its position in Blueprint Medicines by 23.7% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 16,520 shares of the biotechnology company’s stock worth $1,528,000 after acquiring an additional 3,162 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.