Blueprint Medicines (NASDAQ:BPMC) Trading 5.7% Higher - Still a Buy?

Blueprint Medicines Co. (NASDAQ:BPMC - Get Free Report) shares shot up 5.7% during mid-day trading on Tuesday . The stock traded as high as $95.48 and last traded at $94.68. 330,942 shares changed hands during trading, a decline of 27% from the average session volume of 454,721 shares. The stock had previously closed at $89.54.

Analysts Set New Price Targets

BPMC has been the subject of a number of research analyst reports. Guggenheim reaffirmed a "buy" rating on shares of Blueprint Medicines in a research note on Wednesday, December 11th. StockNews.com raised shares of Blueprint Medicines from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. UBS Group assumed coverage on shares of Blueprint Medicines in a research note on Thursday, October 24th. They issued a "neutral" rating and a $88.00 price target for the company. HC Wainwright restated a "buy" rating and issued a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, November 15th. Finally, Wells Fargo & Company reduced their target price on Blueprint Medicines from $153.00 to $151.00 and set an "overweight" rating on the stock in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $123.33.

Blueprint Medicines Price Performance

The firm has a fifty day moving average of $93.39 and a 200 day moving average of $95.70. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $5.99 billion, a P/E ratio of -44.72 and a beta of 0.61.

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

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 15,000 shares of Blueprint Medicines 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 transaction, the director now owns 157,557 shares of the company's stock, valued at $14,143,891.89. The trade was a 8.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kate Haviland sold 2,353 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $96.60, for a total transaction of $227,299.80. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,720 shares of company stock worth $2,177,846 in the last three months. 4.21% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Blueprint Medicines

A number of hedge funds have recently made changes to their positions in BPMC. Exome Asset Management LLC bought a new position in Blueprint Medicines in the 3rd quarter worth approximately $3,395,000. Franklin Resources Inc. lifted its holdings in shares of Blueprint Medicines by 0.7% in the third quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company's stock worth $3,259,000 after buying an additional 265 shares in the last quarter. Synovus Financial Corp boosted its position in shares of Blueprint Medicines by 4.0% during the third quarter. Synovus Financial Corp now owns 24,047 shares of the biotechnology company's stock worth $2,224,000 after acquiring an additional 922 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in Blueprint Medicines during the third quarter valued at $202,000. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in Blueprint Medicines by 23.7% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 16,520 shares of the biotechnology company's stock valued at $1,528,000 after acquiring an additional 3,162 shares during the last quarter.

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.