Blueprint Medicines (NASDAQ:BPMC) Shares Down 5.8% - Here's What Happened

Blueprint Medicines Co. (NASDAQ:BPMC - Get Free Report) fell 5.8% on Wednesday . The company traded as low as $75.28 and last traded at $74.59. 137,529 shares traded hands during trading, a decline of 82% from the average session volume of 748,684 shares. The stock had previously closed at $79.22.

Analyst Ratings Changes

BPMC has been the subject of several research reports. Scotiabank initiated coverage on Blueprint Medicines in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $150.00 target price for the company. Piper Sandler upped their price objective on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. Stephens reaffirmed an "overweight" rating and set a $140.00 target price on shares of Blueprint Medicines in a report on Thursday, January 2nd. Wedbush reissued an "outperform" rating and issued a $128.00 price target on shares of Blueprint Medicines in a research note on Friday, February 28th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $133.00 price objective on shares of Blueprint Medicines in a research note on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $124.95.

Blueprint Medicines Stock Up 2.1 %

The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. The firm has a market cap of $5.27 billion, a PE ratio of -76.42 and a beta of 0.75. The company's 50 day moving average price is $90.91 and its two-hundred day moving average price is $93.54.

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Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last released 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 13.19% and a negative return on equity of 77.49%. On average, equities research analysts expect that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.

Insider Transactions at Blueprint Medicines

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $110.14, for a total transaction of $250,458.36. Following the completion of the transaction, the chief operating officer now owns 67,109 shares in the company, valued at $7,391,385.26. The trade was a 3.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of the sale, the chief executive officer now owns 149,378 shares in the company, valued at approximately $16,467,430.72. The trade was a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,358 shares of company stock valued at $2,583,187. 4.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Blueprint Medicines

Several hedge funds have recently bought and sold shares of the business. Empirical Asset Management LLC bought a new position in shares of Blueprint Medicines in the fourth quarter worth about $2,348,000. Stephens Inc. AR bought a new position in Blueprint Medicines in the 4th quarter worth about $321,000. Bank of New York Mellon Corp increased its position in shares of Blueprint Medicines by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 303,432 shares of the biotechnology company's stock worth $26,465,000 after acquiring an additional 7,101 shares during the period. KBC Group NV raised its stake in shares of Blueprint Medicines by 63.9% during the fourth quarter. KBC Group NV now owns 2,625 shares of the biotechnology company's stock valued at $229,000 after acquiring an additional 1,023 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Blueprint Medicines in the fourth quarter valued at approximately $21,104,000.

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.