Blueprint Medicines (NASDAQ:BPMC) Shares Gap Down - What's Next?

Shares of Blueprint Medicines Co. (NASDAQ:BPMC - Get Free Report) 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.

Analyst Ratings Changes

A number of analysts have issued reports on BPMC shares. HC Wainwright reissued a "buy" rating and issued a $135.00 price target on shares of Blueprint Medicines in a research note on Friday. JMP Securities reiterated a "market outperform" rating and issued a $125.00 price target on shares of Blueprint Medicines in a report on Friday. StockNews.com lowered shares of Blueprint Medicines from a "hold" rating to a "sell" rating in a report on Friday. Wedbush reissued an "outperform" rating and set a $128.00 price target (up previously from $124.00) on shares of Blueprint Medicines in a research report on Thursday. Finally, Piper Sandler raised their price objective on Blueprint Medicines from $109.00 to $119.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Blueprint Medicines has a consensus rating of "Moderate Buy" and a consensus price target of $123.83.

Blueprint Medicines Price Performance

The firm has a market cap of $5.97 billion, a P/E ratio of -44.52 and a beta of 0.62. The company has a 50 day moving average of $99.61 and a two-hundred day moving average of $94.48. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09.

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

Insider Activity at Blueprint Medicines

In other news, CEO Kate Haviland sold 1,446 shares of Blueprint Medicines stock in a transaction that occurred on Tuesday, January 21st. The shares were 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 of the company's stock, valued at $16,467,430.72. This trade represents a 0.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jeffrey W. Albers sold 15,161 shares of the company's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $109.53, for a total transaction of $1,660,584.33. Following the completion of the sale, the director now owns 152,396 shares of the company's stock, valued at approximately $16,691,933.88. This trade represents a 9.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,851 shares of company stock worth $4,984,696 in the last quarter. 4.21% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Quarry LP purchased a new position in Blueprint Medicines during the 3rd quarter valued at about $32,000. R Squared Ltd acquired a new position in shares of Blueprint Medicines during the 4th quarter valued at about $51,000. Covestor Ltd lifted its stake in shares of Blueprint Medicines by 206.7% in the third quarter. Covestor Ltd now owns 598 shares of the biotechnology company's stock worth $55,000 after buying an additional 403 shares during the last quarter. Headlands Technologies LLC bought a new stake in Blueprint Medicines during the fourth quarter valued at about $65,000. Finally, Thematics Asset Management acquired a new stake in Blueprint Medicines in the 4th quarter valued at approximately $72,000.

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.