Blueprint Medicines (NASDAQ:BPMC) Shares Up 5.7% – Still a Buy?

Shares of Blueprint Medicines Co. (NASDAQ:BPMC) rose 5.7% on Tuesday . The stock traded as high as $95.48 and last traded at $94.68. Approximately 330,942 shares were traded during trading, a decline of 27% from the average daily volume of 454,721 shares. The stock had previously closed at $89.54.

Analyst Ratings Changes

BPMC has been the subject of a number of recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a research report on Friday, November 15th. Guggenheim reiterated a “buy” rating on shares of Blueprint Medicines in a report on Wednesday, December 11th. JPMorgan Chase & Co. started coverage on Blueprint Medicines in a research note on Thursday, November 14th. They set an “overweight” rating and a $126.00 price target on the stock. Stephens reaffirmed an “overweight” rating and issued a $140.00 price objective on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $123.33.

Blueprint Medicines Trading Down 4.0 %

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 firm has a market cap of $5.76 billion, a PE ratio of -42.95 and a beta of 0.61. The business has a fifty day moving average price of $93.42 and a 200 day moving average price of $95.66.

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

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 15,000 shares of Blueprint Medicines stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $89.77, for a total transaction of $1,346,550.00. Following the transaction, the director now owns 157,557 shares of the company’s stock, valued at $14,143,891.89. The trade was a 8.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Ariel Hurley sold 1,819 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,720 shares of company stock valued at $2,177,846 over the last ninety days. Insiders own 4.21% of the company’s stock.

Institutional Trading of Blueprint Medicines

A number of large investors have recently bought and sold shares of BPMC. Quarry LP purchased a new stake in shares of Blueprint Medicines in the third quarter valued at about $32,000. Covestor Ltd increased its position in Blueprint Medicines by 206.7% in the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock valued at $55,000 after acquiring an additional 403 shares during the period. Quantbot Technologies LP purchased a new stake in Blueprint Medicines during the 3rd quarter valued at approximately $108,000. Values First Advisors Inc. acquired a new stake in Blueprint Medicines during the 3rd quarter worth approximately $122,000. Finally, CWM LLC grew its stake in shares of Blueprint Medicines by 69.2% in the 3rd quarter. CWM LLC now owns 1,870 shares of the biotechnology company’s stock valued at $173,000 after purchasing an additional 765 shares during the last quarter.

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.