Blueprint Medicines (NASDAQ:BPMC) Reaches New 12-Month Low – What’s Next?

Blueprint Medicines Co. (NASDAQ:BPMC) shares reached a new 52-week low on Friday . The company traded as low as $80.08 and last traded at $81.68, with a volume of 1492586 shares traded. The stock had previously closed at $87.11.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BPMC. Scotiabank started coverage on Blueprint Medicines in a report on Friday, March 7th. They set a “sector outperform” rating and a $150.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a research note on Friday, February 14th. Morgan Stanley initiated coverage on shares of Blueprint Medicines in a research note on Thursday, March 20th. They issued an “equal weight” rating and a $100.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on shares of Blueprint Medicines from $126.00 to $129.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Finally, Jefferies Financial Group assumed coverage on shares of Blueprint Medicines in a report on Monday, March 17th. They issued a “buy” rating and a $135.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Blueprint Medicines presently has a consensus rating of “Moderate Buy” and an average price target of $124.95.

Blueprint Medicines Stock Performance

The stock has a market cap of $5.22 billion, a PE ratio of -75.63 and a beta of 0.75. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80. The stock has a 50-day simple moving average of $95.52 and a 200-day simple moving average of $93.94.

Blueprint Medicines (NASDAQ:BPMC) last posted its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. Equities analysts predict that Blueprint Medicines Co. will post -1.28 earnings per share for the current fiscal year.

Insider Activity at Blueprint Medicines

In related news, insider Ariel Hurley sold 2,250 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $100.00, for a total transaction of $225,000.00. Following the sale, the insider now directly owns 14,967 shares in the company, valued at approximately $1,496,700. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kate Haviland sold 1,446 shares of the business’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 value of $159,407.04. Following the transaction, the chief executive officer now directly owns 149,378 shares in the company, valued at $16,467,430.72. This trade represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,608 shares of company stock worth $3,319,587. 4.21% of the stock is currently owned by corporate insiders.

Institutional Trading of Blueprint Medicines

A number of hedge funds have recently made changes to their positions in the company. Quarry LP acquired a new stake in Blueprint Medicines during the 3rd quarter valued at $32,000. R Squared Ltd purchased a new position in Blueprint Medicines in the 4th quarter valued at about $51,000. Headlands Technologies LLC acquired a new stake in shares of Blueprint Medicines during the fourth quarter valued at about $65,000. Thematics Asset Management purchased a new stake in shares of Blueprint Medicines during the fourth quarter worth about $72,000. Finally, Covestor Ltd lifted its stake in shares of Blueprint Medicines by 62.7% in the fourth quarter. Covestor Ltd now owns 973 shares of the biotechnology company’s stock worth $85,000 after acquiring an additional 375 shares in the last quarter.

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.