Blueprint Medicines (NASDAQ:BPMC) Releases Earnings Results, Beats Expectations By $0.08 EPS

Blueprint Medicines (NASDAQ:BPMC) released its quarterly earnings results on Wednesday. The biotechnology company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.08, Briefing.com reports. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 118.86%. The firm had revenue of $128.20 million during the quarter, compared to the consensus estimate of $127.56 million. During the same quarter in the prior year, the firm earned ($2.20) EPS. The company’s revenue for the quarter was up 126.5% on a year-over-year basis.

Blueprint Medicines Stock Up 3.6 %

Shares of NASDAQ:BPMC opened at $90.70 on Friday. The business has a 50-day moving average price of $88.79 and a 200 day moving average price of $98.39. Blueprint Medicines has a 12-month low of $56.74 and a 12-month high of $121.90. The company has a current ratio of 3.71, a quick ratio of 3.65 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $5.75 billion, a price-to-earnings ratio of -42.99 and a beta of 0.58.

Insiders Place Their Bets

In other news, insider Fouad Namouni sold 3,633 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total value of $324,499.56. Following the sale, the insider now directly owns 69,070 shares of the company’s stock, valued at approximately $6,169,332.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Fouad Namouni sold 3,633 shares of Blueprint Medicines stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total value of $324,499.56. Following the completion of the sale, the insider now directly owns 69,070 shares of the company’s stock, valued at approximately $6,169,332.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Philina Lee sold 41,913 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $93.19, for a total value of $3,905,872.47. Following the completion of the sale, the insider now owns 34,729 shares in the company, valued at $3,236,395.51. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.21% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BPMC has been the subject of a number of research analyst reports. Morgan Stanley increased their target price on Blueprint Medicines from $110.00 to $115.00 and gave the company an “equal weight” rating in a report on Friday, July 12th. Oppenheimer raised their price objective on Blueprint Medicines from $114.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Guggenheim upped their target price on shares of Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Robert W. Baird increased their target price on shares of Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Barclays boosted their price target on shares of Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $120.39.

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.