Blueprint Medicines (NASDAQ:BPMC) Shares Down 3.6% - What's Next?

Shares of Blueprint Medicines Co. (NASDAQ:BPMC - Get Free Report) traded down 3.6% during mid-day trading on Thursday . The company traded as low as $87.55 and last traded at $88.50. 122,851 shares changed hands during trading, a decline of 82% from the average session volume of 683,709 shares. The stock had previously closed at $91.78.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BPMC shares. Needham & Company LLC reissued a "buy" rating and issued a $135.00 target price on shares of Blueprint Medicines in a research note on Friday, November 15th. Wedbush restated an "outperform" rating and issued a $135.00 price target on shares of Blueprint Medicines in a research note on Thursday, November 14th. JPMorgan Chase & Co. started coverage on shares of Blueprint Medicines in a research report on Thursday, November 14th. They set an "overweight" rating and a $126.00 price target on the stock. StockNews.com upgraded Blueprint Medicines from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. Finally, Guggenheim reiterated a "buy" rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Blueprint Medicines currently has an average rating of "Moderate Buy" and an average price target of $122.11.

Blueprint Medicines Stock Down 3.1 %

The business's fifty day moving average price is $92.45 and its two-hundred day moving average price is $97.23. 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 firm has a market cap of $5.65 billion, a P/E ratio of -42.15 and a beta of 0.59.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $127.56 million. During the same period in the previous year, the company earned ($2.20) EPS. The company's revenue for the quarter was up 126.5% on a year-over-year basis. As a group, equities research analysts anticipate that Blueprint Medicines Co. will post -3.68 EPS for the current year.

Insider Buying and Selling

In other Blueprint Medicines news, insider Ariel Hurley sold 1,819 shares of the firm's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $93.26, for a total transaction of $169,639.94. Following the completion of the transaction, the insider now owns 14,967 shares in the company, valued at $1,395,822.42. This trade represents a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Fouad Namouni sold 3,633 shares of the business's stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total value of $324,499.56. Following the completion of the sale, the insider now directly owns 69,070 shares in the company, valued at approximately $6,169,332.40. This represents a 5.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,079 shares of company stock worth $937,697 in the last quarter. 4.21% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BPMC. Raymond James & Associates raised its stake in shares of Blueprint Medicines by 45.2% in the second quarter. Raymond James & Associates now owns 13,550 shares of the biotechnology company's stock worth $1,460,000 after acquiring an additional 4,215 shares during the last quarter. EFG Asset Management North America Corp. grew its stake in shares of Blueprint Medicines by 0.5% during the 2nd quarter. EFG Asset Management North America Corp. now owns 27,884 shares of the biotechnology company's stock worth $3,008,000 after acquiring an additional 132 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Blueprint Medicines by 13.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 273,930 shares of the biotechnology company's stock worth $29,524,000 after acquiring an additional 32,740 shares in the last quarter. Legato Capital Management LLC bought a new stake in shares of Blueprint Medicines in the second quarter worth $557,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Blueprint Medicines by 8.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,792 shares of the biotechnology company's stock worth $1,487,000 after purchasing an additional 1,064 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.