Blueprint Medicines Co. (NASDAQ:BPMC) Short Interest Down 18.1% in January

Blueprint Medicines Co. (NASDAQ:BPMC - Get Free Report) was the target of a large decline in short interest in January. As of January 31st, there was short interest totalling 4,210,000 shares, a decline of 18.1% from the January 15th total of 5,140,000 shares. Based on an average trading volume of 764,600 shares, the short-interest ratio is currently 5.5 days.

Insider Activity

In related news, CEO Kate Haviland sold 1,446 shares of the 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 owns 149,378 shares in the company, valued at approximately $16,467,430.72. This represents a 0.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Christina Rossi sold 2,274 shares of the firm's stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 71,657 shares in the company, valued at approximately $6,814,580.70. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,851 shares of company stock worth $4,984,696 in the last ninety days. Corporate insiders own 4.21% of the company's stock.

Hedge Funds Weigh In On Blueprint Medicines

A number of hedge funds have recently modified their holdings of BPMC. Avoro Capital Advisors LLC bought a new stake in Blueprint Medicines in the fourth quarter valued at $103,356,000. Wellington Management Group LLP grew its holdings in shares of Blueprint Medicines by 22.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company's stock worth $366,726,000 after purchasing an additional 729,055 shares during the last quarter. Norges Bank acquired a new stake in shares of Blueprint Medicines during the 4th quarter worth about $62,028,000. State Street Corp increased its position in shares of Blueprint Medicines by 16.2% during the 3rd quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company's stock worth $255,827,000 after purchasing an additional 385,818 shares in the last quarter. Finally, Jennison Associates LLC bought a new position in Blueprint Medicines during the 4th quarter valued at about $31,417,000.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BPMC shares. Piper Sandler raised their target price on Blueprint Medicines from $109.00 to $119.00 and gave the company a "neutral" rating in a report on Monday, January 27th. UBS Group started coverage on Blueprint Medicines in a research note on Thursday, October 24th. They issued a "neutral" rating and a $88.00 price objective on the stock. HC Wainwright reaffirmed a "buy" rating and set a $135.00 target price on shares of Blueprint Medicines in a research report on Friday, February 14th. Wedbush restated an "outperform" rating and issued a $128.00 price objective (up from $124.00) on shares of Blueprint Medicines in a research note on Thursday, February 13th. Finally, Stephens reaffirmed an "overweight" rating and set a $140.00 price objective on shares of Blueprint Medicines in a report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $123.83.

Blueprint Medicines Price Performance

Shares of BPMC stock traded up $1.59 during mid-day trading on Wednesday, reaching $94.07. The company's stock had a trading volume of 747,431 shares, compared to its average volume of 1,041,973. The firm's 50-day moving average is $99.53 and its two-hundred day moving average is $94.40. The company has a market cap of $6.01 billion, a P/E ratio of -87.10 and a beta of 0.62. Blueprint Medicines has a 1-year low of $80.42 and a 1-year high of $121.90. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.11). Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. On average, research analysts predict that Blueprint Medicines will post -1.22 earnings per share for the current year.

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.