Blueprint Medicines (NASDAQ:BPMC) Trading Down 1.6% - Time to Sell?

Blueprint Medicines Co. (NASDAQ:BPMC - Get Free Report) fell 1.6% on Friday . The stock traded as low as $88.20 and last traded at $88.37. 55,876 shares were traded during trading, a decline of 94% from the average session volume of 1,000,307 shares. The stock had previously closed at $89.84.

Analysts Set New Price Targets

BPMC has been the subject of a number of research reports. Scotiabank initiated coverage on shares of Blueprint Medicines in a research note on Friday, March 7th. They set a "sector outperform" rating and a $150.00 target price for the company. Wedbush reissued an "outperform" rating and set a $128.00 target price on shares of Blueprint Medicines in a research note on Friday, February 28th. Wolfe Research assumed coverage on shares of Blueprint Medicines in a research note on Tuesday. They set an "outperform" rating for the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $133.00 price objective on shares of Blueprint Medicines in a research note on Thursday, February 13th. Finally, Stephens reaffirmed an "overweight" rating and issued a $140.00 price objective on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $125.70.

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Blueprint Medicines Stock Performance

The stock's 50-day simple moving average is $99.49 and its 200 day simple moving average is $93.99. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of -82.95 and a beta of 0.58. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced 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%. Analysts expect that Blueprint Medicines Co. will post -1.28 earnings per share for the current fiscal year.

Insider Transactions at Blueprint Medicines

In related news, CEO Kate Haviland sold 1,446 shares of the 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 in the company, valued at $16,467,430.72. This represents a 0.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey W. Albers sold 15,000 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $89.77, for a total transaction of $1,346,550.00. Following the completion of the transaction, the director now owns 157,557 shares in the company, valued at $14,143,891.89. This represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,608 shares of company stock worth $4,668,161. Corporate insiders own 4.21% of the company's stock.

Hedge Funds Weigh In On Blueprint Medicines

Several large investors have recently bought and sold shares of BPMC. Avoro Capital Advisors LLC acquired a new position in Blueprint Medicines in the fourth quarter valued at approximately $103,356,000. Wellington Management Group LLP lifted its holdings in Blueprint Medicines by 22.5% in the third quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company's stock valued at $366,726,000 after buying an additional 729,055 shares during the period. Norges Bank acquired a new position in Blueprint Medicines in the fourth quarter valued at approximately $62,028,000. State Street Corp lifted its holdings in Blueprint Medicines by 16.2% in 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 during the period. Finally, Jennison Associates LLC acquired a new position in Blueprint Medicines in the fourth quarter valued at approximately $31,417,000.

Blueprint Medicines Company Profile

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.