Blueprint Medicines Co. (NASDAQ:BPMC) Short Interest Update

Blueprint Medicines Co. (NASDAQ:BPMC) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 5,100,000 shares, a growth of 12.6% from the December 31st total of 4,530,000 shares. Based on an average trading volume of 643,900 shares, the days-to-cover ratio is presently 7.9 days.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BPMC. JMP Securities reaffirmed a “market outperform” rating and set a $125.00 price target on shares of Blueprint Medicines in a research report on Wednesday, January 15th. Wedbush reaffirmed an “outperform” rating and set a $124.00 price target (down previously from $135.00) on shares of Blueprint Medicines in a research report on Monday, January 13th. StockNews.com raised shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. began coverage on shares of Blueprint Medicines in a research report on Thursday, November 14th. They set an “overweight” rating and a $126.00 price target for the company. Finally, Stephens reaffirmed an “overweight” rating and set a $140.00 price target on shares of Blueprint Medicines in a research report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $123.56.

Blueprint Medicines Price Performance

NASDAQ BPMC traded down $1.03 on Monday, reaching $111.50. 757,436 shares of the stock traded hands, compared to its average volume of 910,249. The firm’s fifty day simple moving average is $98.13 and its 200 day simple moving average is $95.03. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09. The company has a market cap of $7.08 billion, a price-to-earnings ratio of -52.84 and a beta of 0.61. Blueprint Medicines has a 12 month low of $72.24 and a 12 month high of $121.90.

Insider Activity

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 15,161 shares of Blueprint Medicines stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $109.53, for a total transaction of $1,660,584.33. Following the transaction, the director now directly owns 152,396 shares of the company’s stock, valued at approximately $16,691,933.88. This trade represents a 9.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ariel Hurley sold 1,819 shares of Blueprint Medicines stock in a transaction on Thursday, December 12th. The shares were 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. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,851 shares of company stock worth $4,984,696. 4.21% of the stock is owned by company insiders.

Institutional Trading of Blueprint Medicines

Hedge funds have recently modified their holdings of the business. Pallas Capital Advisors LLC raised its stake in shares of Blueprint Medicines by 3.2% in the third quarter. Pallas Capital Advisors LLC now owns 5,657 shares of the biotechnology company’s stock valued at $523,000 after acquiring an additional 176 shares during the last quarter. Clarus Wealth Advisors increased its holdings in shares of Blueprint Medicines by 8.6% during the third quarter. Clarus Wealth Advisors now owns 2,590 shares of the biotechnology company’s stock worth $231,000 after purchasing an additional 206 shares during the period. Mackenzie Financial Corp increased its holdings in shares of Blueprint Medicines by 5.2% during the second quarter. Mackenzie Financial Corp now owns 4,885 shares of the biotechnology company’s stock worth $527,000 after purchasing an additional 243 shares during the period. Franklin Resources Inc. boosted its position in Blueprint Medicines by 0.7% in the third quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company’s stock valued at $3,259,000 after buying an additional 265 shares in the last quarter. Finally, Quarry LP bought a new position in Blueprint Medicines during the third quarter worth $32,000.

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.