Blueprint Medicines (NASDAQ:BPMC) Shares Gap Down – What’s Next?

Blueprint Medicines Co. (NASDAQ:BPMC)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $103.56, but opened at $95.00. Blueprint Medicines shares last traded at $96.61, with a volume of 567,493 shares.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. StockNews.com cut Blueprint Medicines from a “hold” rating to a “sell” rating in a report on Friday. Guggenheim restated a “buy” rating on shares of Blueprint Medicines in a report on Wednesday, December 11th. UBS Group assumed coverage on Blueprint Medicines in a report on Thursday, October 24th. They set a “neutral” rating and a $88.00 target price on the stock. JMP Securities restated a “market outperform” rating and set a $125.00 target price on shares of Blueprint Medicines in a report on Friday. Finally, HC Wainwright reiterated a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a report on Friday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Blueprint Medicines presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.83.

Blueprint Medicines Price Performance

The firm’s 50 day moving average price is $99.61 and its two-hundred day moving average price is $94.66. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. On average, sell-side analysts anticipate that Blueprint Medicines Co. will post -3.63 EPS for the current year.

Insider Activity at Blueprint Medicines

In other news, COO Christina Rossi sold 2,274 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $110.14, for a total transaction of $250,458.36. Following the completion of the transaction, the chief operating officer now directly owns 67,109 shares of the company’s stock, valued at $7,391,385.26. This trade represents a 3.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kate Haviland sold 1,446 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total transaction of $159,407.04. Following the sale, the chief executive officer now owns 149,378 shares in the company, valued at approximately $16,467,430.72. This trade represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,851 shares of company stock worth $4,984,696 over the last 90 days. Company insiders own 4.21% of the company’s stock.

Hedge Funds Weigh In On Blueprint Medicines

Hedge funds have recently made changes to their positions in the stock. Quarry LP bought a new stake in shares of Blueprint Medicines during the 3rd quarter valued at about $32,000. R Squared Ltd acquired a new stake in shares of Blueprint Medicines in the 4th quarter worth approximately $51,000. Covestor Ltd lifted its stake in shares of Blueprint Medicines by 206.7% in the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock worth $55,000 after acquiring an additional 403 shares during the period. Headlands Technologies LLC bought a new stake in shares of Blueprint Medicines in the 4th quarter worth approximately $65,000. Finally, Thematics Asset Management bought a new stake in shares of Blueprint Medicines in the 4th quarter worth approximately $72,000.

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.