Blueprint Medicines (NASDAQ:BPMC) Sets New 52-Week High at $119.82

Blueprint Medicines Co. (NASDAQ:BPMC)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $119.82 and last traded at $119.37, with a volume of 15803 shares. The stock had previously closed at $117.79.

Analyst Ratings Changes

Several research analysts have issued reports on BPMC shares. Oppenheimer increased their price objective on Blueprint Medicines from $114.00 to $125.00 and gave the stock an “outperform” rating in a research note on Monday. SVB Leerink upgraded Blueprint Medicines from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $50.00 to $97.00 in a report on Monday, May 6th. Stephens started coverage on Blueprint Medicines in a report on Tuesday, May 14th. They set an “overweight” rating and a $140.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $130.00 target price on shares of Blueprint Medicines in a report on Friday, June 28th. Finally, Citigroup raised their price target on Blueprint Medicines from $65.00 to $76.00 and gave the company a “sell” rating in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has 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 $112.87.

Blueprint Medicines Stock Performance

The company has a market cap of $7.49 billion, a price-to-earnings ratio of -24.49 and a beta of 0.63. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.76 and a quick ratio of 3.61. The stock has a 50-day moving average price of $106.66 and a 200 day moving average price of $94.29.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported ($1.32) EPS for the quarter, topping analysts’ consensus estimates of ($1.64) by $0.32. The company had revenue of $96.12 million for the quarter, compared to analyst estimates of $82.58 million. Blueprint Medicines had a negative return on equity of 193.48% and a negative net margin of 102.15%. As a group, analysts anticipate that Blueprint Medicines Co. will post -5.16 EPS for the current fiscal year.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, CFO Michael Landsittel sold 10,000 shares of the firm’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 directly owns 47,286 shares in the company, valued at $4,965,030. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Blueprint Medicines news, CFO Michael Landsittel sold 10,000 shares of the firm’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 directly owns 47,286 shares in the company, valued at $4,965,030. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Debra Durso-Bumpus sold 3,850 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $111.20, for a total value of $428,120.00. Following the completion of the transaction, the insider now owns 43,763 shares of the company’s stock, valued at $4,866,445.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 141,898 shares of company stock valued at $14,957,242. 4.21% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BPMC. Price T Rowe Associates Inc. MD boosted its stake in shares of Blueprint Medicines by 15.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,250,823 shares of the biotechnology company’s stock worth $592,954,000 after acquiring an additional 821,868 shares during the period. Norges Bank bought a new stake in Blueprint Medicines in the 4th quarter valued at $55,893,000. Assenagon Asset Management S.A. boosted its stake in Blueprint Medicines by 2,788.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 269,658 shares of the biotechnology company’s stock valued at $24,873,000 after purchasing an additional 260,321 shares during the period. Vanguard Group Inc. boosted its stake in Blueprint Medicines by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company’s stock valued at $598,564,000 after purchasing an additional 195,007 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Blueprint Medicines by 3.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,080,521 shares of the biotechnology company’s stock valued at $255,144,000 after purchasing an additional 156,807 shares during the period.

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.