Blueprint Medicines Co. (NASDAQ:BPMC) Short Interest Down 18.1% in January

Blueprint Medicines Co. (NASDAQ:BPMC) saw a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 4,210,000 shares, a drop of 18.1% from the January 15th total of 5,140,000 shares. Based on an average daily volume of 764,600 shares, the short-interest ratio is presently 5.5 days.

Insider Activity

In related news, Director Jeffrey W. Albers sold 15,161 shares of the business’s stock in a transaction 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 in the company, valued at approximately $16,691,933.88. The trade was a 9.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kate Haviland sold 2,353 shares of Blueprint Medicines stock in a transaction on Friday, November 29th. The stock was sold at an average price of $96.60, for a total transaction of $227,299.80. Following the transaction, the chief executive officer now directly owns 150,824 shares of the company’s stock, valued at approximately $14,569,598.40. This trade represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,851 shares of company stock worth $4,984,696 over the last ninety days. Insiders own 4.21% of the company’s stock.

Institutional Trading of Blueprint Medicines

Several institutional investors have recently added to or reduced their stakes in BPMC. Quarry LP bought a new position in shares of Blueprint Medicines during the 3rd quarter worth approximately $32,000. R Squared Ltd bought a new position in shares of Blueprint Medicines in the 4th quarter worth $51,000. Covestor Ltd lifted its holdings in shares of Blueprint Medicines by 206.7% in the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 403 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Blueprint Medicines in the 4th quarter worth $65,000. Finally, Thematics Asset Management purchased a new stake in Blueprint Medicines in the 4th quarter valued at $72,000.

Analyst Ratings Changes

A number of equities analysts have commented on BPMC shares. Wedbush reaffirmed an “outperform” rating and set a $128.00 price objective (up from $124.00) on shares of Blueprint Medicines in a research report on Thursday. StockNews.com cut shares of Blueprint Medicines from a “hold” rating to a “sell” rating in a research report on Friday. HC Wainwright reissued a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a research report on Friday. UBS Group began coverage on shares of Blueprint Medicines in a research report on Thursday, October 24th. They issued a “neutral” rating and a $88.00 target price for the company. Finally, Piper Sandler boosted their target price on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Blueprint Medicines currently has an average rating of “Moderate Buy” and an average price target of $123.83.

Blueprint Medicines Price Performance

NASDAQ BPMC traded down $1.25 during trading on Friday, hitting $93.94. 1,260,678 shares of the company’s stock were exchanged, compared to its average volume of 950,529. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09. The company has a market cap of $5.97 billion, a PE ratio of -44.52 and a beta of 0.62. Blueprint Medicines has a fifty-two week low of $77.57 and a fifty-two week high of $121.90. The stock’s 50 day moving average price is $99.61 and its two-hundred day moving average price is $94.66.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. Research analysts expect that Blueprint Medicines will post -3.63 EPS 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.