Research Analysts Offer Predictions for Blueprint Medicines Co.’s Q2 2024 Earnings (NASDAQ:BPMC)

Blueprint Medicines Co. (NASDAQ:BPMC) – Equities researchers at Leerink Partnrs issued their Q2 2024 earnings estimates for Blueprint Medicines in a note issued to investors on Monday, May 6th. Leerink Partnrs analyst A. Berens anticipates that the biotechnology company will post earnings per share of ($1.10) for the quarter. Leerink Partnrs has a “Market Perform” rating on the stock. The consensus estimate for Blueprint Medicines’ current full-year earnings is ($5.38) per share. Leerink Partnrs also issued estimates for Blueprint Medicines’ Q3 2024 earnings at ($0.87) EPS, Q4 2024 earnings at ($0.57) EPS, FY2024 earnings at ($3.82) EPS, FY2025 earnings at $1.71 EPS and FY2026 earnings at $4.42 EPS.

Other equities analysts have also issued reports about the stock. SVB Leerink upgraded shares of Blueprint Medicines from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $50.00 to $97.00 in a research report on Monday. Barclays raised their target price on Blueprint Medicines from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. The Goldman Sachs Group lifted their price target on Blueprint Medicines from $121.00 to $168.00 and gave the stock a “buy” rating in a research note on Monday. HC Wainwright lifted their price target on Blueprint Medicines from $125.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Finally, Wedbush reissued an “outperform” rating and issued a $110.00 target price on shares of Blueprint Medicines in a research note on Friday, April 26th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $100.31.

Blueprint Medicines Stock Performance

Shares of BPMC opened at $108.34 on Wednesday. The company has a current ratio of 3.76, a quick ratio of 3.61 and a debt-to-equity ratio of 0.67. The firm has a market cap of $6.63 billion, a PE ratio of -22.52 and a beta of 0.65. The company’s 50 day simple moving average is $92.74 and its 200-day simple moving average is $82.19. Blueprint Medicines has a 12-month low of $43.89 and a 12-month high of $110.93.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.04) by $0.22. The company had revenue of $71.96 million for the quarter, compared to analysts’ expectations of $67.34 million. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 193.48%. The firm’s revenue for the quarter was up 85.5% on a year-over-year basis. During the same quarter last year, the company earned ($2.65) earnings per share.

Institutional Investors Weigh In On Blueprint Medicines

Institutional investors and hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in Blueprint Medicines by 0.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,414 shares of the biotechnology company’s stock worth $3,451,000 after buying an additional 145 shares during the last quarter. US Bancorp DE boosted its stake in Blueprint Medicines by 5.2% during the first quarter. US Bancorp DE now owns 3,724 shares of the biotechnology company’s stock valued at $353,000 after buying an additional 183 shares in the last quarter. Van ECK Associates Corp increased its stake in Blueprint Medicines by 28.4% in the 4th quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock worth $80,000 after purchasing an additional 193 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Blueprint Medicines by 1.7% during the fourth quarter. Principal Financial Group Inc. now owns 14,510 shares of the biotechnology company’s stock valued at $1,338,000 after acquiring an additional 247 shares during the period. Finally, Diversified Trust Co raised its stake in Blueprint Medicines by 2.9% during the 3rd quarter. Diversified Trust Co now owns 11,219 shares of the biotechnology company’s stock valued at $563,000 after purchasing an additional 318 shares during the period.

Insiders Place Their Bets

In other Blueprint Medicines news, CFO Michael Landsittel sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $105.00, for a total value of $1,050,000.00. Following the completion of the transaction, the chief financial officer now owns 47,286 shares in the company, valued at approximately $4,965,030. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Blueprint Medicines news, CFO Michael Landsittel sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $105.00, for a total value of $1,050,000.00. Following the transaction, the chief financial officer now directly owns 47,286 shares of the company’s stock, valued at approximately $4,965,030. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Christopher K. Murray sold 621 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $93.65, for a total value of $58,156.65. Following the completion of the transaction, the insider now directly owns 36,374 shares in the company, valued at $3,406,425.10. The disclosure for this sale can be found here. Insiders sold a total of 104,123 shares of company stock worth $9,554,679 in the last 90 days. 3.88% of the stock is owned by company insiders.

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.