Blueprint Medicines Co. (NASDAQ:BPMC) Short Interest Up 12.6% in December

Blueprint Medicines Co. (NASDAQ:BPMC) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 5,100,000 shares, a growth of 12.6% from the December 15th total of 4,530,000 shares. Based on an average daily trading volume, of 643,900 shares, the short-interest ratio is presently 7.9 days.

Blueprint Medicines Trading Up 5.9 %

Blueprint Medicines stock traded up $6.10 during trading hours on Friday, reaching $110.05. 970,190 shares of the company’s stock were exchanged, compared to its average volume of 533,081. The firm’s 50 day simple moving average is $94.09 and its 200 day simple moving average is $95.32. Blueprint Medicines has a twelve month low of $72.24 and a twelve month high of $121.90. The firm has a market capitalization of $6.99 billion, a PE ratio of -52.16 and a beta of 0.61. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09.

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, beating the consensus estimate of ($0.97) by $0.08. The company had revenue of $128.20 million during the quarter, compared to analyst estimates of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. Blueprint Medicines’s revenue for the quarter was up 126.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($2.20) EPS. Research analysts predict that Blueprint Medicines will post -3.68 earnings per share for the current year.

Insider Transactions at Blueprint Medicines

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $95.10, for a total transaction of $216,257.40. Following the completion of the transaction, the chief operating officer now directly owns 71,657 shares of the company’s stock, valued at $6,814,580.70. The trade was a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ariel Hurley sold 1,819 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $93.26, for a total transaction of $169,639.94. Following the completion of the transaction, the insider now directly owns 14,967 shares in the company, valued at $1,395,822.42. The trade was a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,970 shares of company stock valued at $2,914,246 over the last three months. Company insiders own 4.21% of the company’s stock.

Institutional Trading of Blueprint Medicines

Several large investors have recently made changes to their positions in the company. Hsbc Holdings PLC acquired a new stake in Blueprint Medicines in the 2nd quarter valued at $1,060,000. Empirical Asset Management LLC bought a new stake in shares of Blueprint Medicines during the fourth quarter worth about $2,348,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Blueprint Medicines by 48.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 252,236 shares of the biotechnology company’s stock worth $23,332,000 after acquiring an additional 82,693 shares during the last quarter. Entropy Technologies LP bought a new position in Blueprint Medicines in the 3rd quarter valued at about $999,000. Finally, Fred Alger Management LLC boosted its stake in Blueprint Medicines by 187.3% during the 2nd quarter. Fred Alger Management LLC now owns 48,588 shares of the biotechnology company’s stock valued at $5,237,000 after purchasing an additional 31,675 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BPMC shares. JMP Securities reaffirmed a “market outperform” rating and set a $125.00 price target on shares of Blueprint Medicines in a research report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $135.00 target price on shares of Blueprint Medicines in a report on Monday, January 13th. JPMorgan Chase & Co. began coverage on Blueprint Medicines in a research note on Thursday, November 14th. They issued an “overweight” rating and a $126.00 price target for the company. Stephens restated an “overweight” rating and set a $140.00 price objective on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Finally, UBS Group assumed coverage on Blueprint Medicines in a research report on Thursday, October 24th. They set a “neutral” rating and a $88.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $122.72.

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.