Blueprint Medicines Co. (NASDAQ:BPMC) Short Interest Down 5.3% in November

Blueprint Medicines Co. (NASDAQ:BPMC - Get Free Report) was the target of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 3,910,000 shares, a decline of 5.3% from the October 31st total of 4,130,000 shares. Based on an average daily trading volume, of 639,000 shares, the days-to-cover ratio is currently 6.1 days.

Blueprint Medicines Stock Down 1.1 %

BPMC stock traded down $1.09 during mid-day trading on Tuesday, reaching $96.53. The company had a trading volume of 314,776 shares, compared to its average volume of 616,789. Blueprint Medicines has a one year low of $70.39 and a one year high of $121.90. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32. The stock's 50-day simple moving average is $91.12 and its two-hundred day simple moving average is $97.97.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.97) by $0.08. The business had revenue of $128.20 million during the quarter, compared to analysts' expectations of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The business's revenue was up 126.5% on a year-over-year basis. During the same period last year, the firm posted ($2.20) earnings per share. On average, sell-side analysts predict that Blueprint Medicines will post -3.68 earnings per share for the current fiscal year.

Insider Transactions at Blueprint Medicines

In other Blueprint Medicines news, CEO Kate Haviland sold 2,353 shares of the firm's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $96.60, for a total value of $227,299.80. Following the sale, the chief executive officer now directly owns 150,824 shares of the company's stock, valued at approximately $14,569,598.40. This trade represents a 1.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Christina Rossi sold 2,274 shares of the company's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $95.10, for a total value of $216,257.40. Following the sale, the chief operating officer now owns 71,657 shares of the company's stock, valued at approximately $6,814,580.70. The trade was a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,260 shares of company stock valued at $768,057 in the last 90 days. 4.21% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BPMC. Wellington Management Group LLP boosted its position in Blueprint Medicines by 22.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company's stock worth $366,726,000 after acquiring an additional 729,055 shares during the period. Millennium Management LLC boosted its holdings in Blueprint Medicines by 540.0% in the second quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company's stock worth $67,646,000 after purchasing an additional 529,566 shares in the last quarter. 1832 Asset Management L.P. increased its position in Blueprint Medicines by 200,159.4% during the second quarter. 1832 Asset Management L.P. now owns 502,651 shares of the biotechnology company's stock worth $54,176,000 after buying an additional 502,400 shares during the last quarter. State Street Corp raised its holdings in Blueprint Medicines by 16.2% during the third quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company's stock valued at $255,827,000 after buying an additional 385,818 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Blueprint Medicines by 161.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 496,087 shares of the biotechnology company's stock worth $45,888,000 after acquiring an additional 306,079 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BPMC shares. JPMorgan Chase & Co. started coverage on Blueprint Medicines in a report on Thursday, November 14th. They issued an "overweight" rating and a $126.00 price target for the company. Wedbush reiterated an "outperform" rating and issued a $135.00 target price on shares of Blueprint Medicines in a research note on Thursday, November 14th. Needham & Company LLC reissued a "buy" rating and set a $135.00 price target on shares of Blueprint Medicines in a research report on Friday, November 15th. JMP Securities reaffirmed a "market outperform" rating and issued a $125.00 price objective on shares of Blueprint Medicines in a research report on Monday, November 18th. Finally, UBS Group initiated coverage on shares of Blueprint Medicines in a research note on Thursday, October 24th. They issued a "neutral" rating and a $88.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $122.11.

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.