Blueprint Medicines Co. (NASDAQ:BPMC)’s stock price was up 5% during mid-day trading on Monday . The company traded as high as $91.54 and last traded at $91.28. Approximately 2,234 shares were traded during trading, a decline of 99% from the average daily volume of 427,856 shares. The stock had previously closed at $86.90.
A number of research analysts recently issued reports on BPMC shares. Morgan Stanley decreased their price objective on Blueprint Medicines from $105.00 to $101.00 and set an “equal weight” rating for the company in a report on Friday, April 30th. HC Wainwright restated a “buy” rating on shares of Blueprint Medicines in a research note on Thursday, February 18th. Barclays raised their price target on Blueprint Medicines from $90.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, February 18th. Wedbush raised their price target on Blueprint Medicines from $119.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, April 13th. Finally, Credit Suisse Group initiated coverage on Blueprint Medicines in a research note on Tuesday, March 30th. They issued a “neutral” rating and a $100.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $112.87.
The firm has a market capitalization of $4.92 billion, a P/E ratio of 14.97 and a beta of 0.69. The company’s 50-day moving average is $92.62.
Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Wednesday, April 28th. The biotechnology company reported ($1.72) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.80) by $0.08. The business had revenue of $21.58 million during the quarter, compared to analysts’ expectations of $24.71 million. Blueprint Medicines had a return on equity of 27.25% and a net margin of 40.18%. Analysts forecast that Blueprint Medicines Co. will post -6.52 EPS for the current year.
In related news, CEO Jeffrey W. Albers sold 25,000 shares of Blueprint Medicines stock in a transaction that occurred on Wednesday, May 12th. The stock was sold at an average price of $92.69, for a total transaction of $2,317,250.00. Following the completion of the sale, the chief executive officer now directly owns 179,948 shares of the company’s stock, valued at approximately $16,679,380.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 3.34% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in BPMC. Lone Pine Capital LLC acquired a new stake in Blueprint Medicines during the 4th quarter worth approximately $303,830,000. William Blair Investment Management LLC bought a new position in Blueprint Medicines during the 4th quarter worth $110,223,000. Norges Bank bought a new position in Blueprint Medicines during the 4th quarter worth $87,507,000. Jennison Associates LLC increased its stake in Blueprint Medicines by 1,834.8% during the 1st quarter. Jennison Associates LLC now owns 412,913 shares of the biotechnology company’s stock worth $40,148,000 after acquiring an additional 391,572 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in Blueprint Medicines by 9.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,049,274 shares of the biotechnology company’s stock worth $393,711,000 after acquiring an additional 361,508 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.
About Blueprint Medicines (NASDAQ:BPMC)
Blueprint Medicines Corporation, a precision therapy company, develops medicines for people with cancer and hematologic disorders, and multiple programs for genomically defined cancers, systemic mastocytosis, and cancer immunotherapy in the United States and Europe. The company is developing avapritinib for the treatment of systemic mastocytosis (SM) and gastrointestinal stromal tumors; BLU-263, an orally available, potent, and KIT inhibitor for the treatment of non-advanced SM and other mast cell disorders; and fisogatinib, an orally available and potent inhibitor, which is in Phase 1b/2 trials for the treatment of advanced hepatocellular carcinoma.
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