Blueprint Medicines (NASDAQ:BPMC) Shares Down 5.8% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

BPMC has been the subject of several research analyst reports. Stephens reiterated an “overweight” rating and issued a $140.00 price objective on shares of Blueprint Medicines in a report on Thursday, January 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $133.00 price target on shares of Blueprint Medicines in a report on Tuesday. StockNews.com downgraded shares of Blueprint Medicines from a “hold” rating to a “sell” rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. raised their target price on shares of Blueprint Medicines from $126.00 to $129.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Finally, JMP Securities reiterated a “market outperform” rating and set a $125.00 price target on shares of Blueprint Medicines in a research report on Friday, February 14th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $124.95.

Blueprint Medicines Stock Performance

The business’s fifty day moving average is $91.56 and its two-hundred day moving average is $93.55. 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 company has a market capitalization of $5.17 billion, a PE ratio of -74.85 and a beta of 0.75.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share for the quarter, missing the consensus estimate 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%. Equities research analysts predict that Blueprint Medicines Co. will post -1.28 earnings per share for the current year.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, insider Ariel Hurley sold 2,250 shares of Blueprint Medicines stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $100.00, for a total value of $225,000.00. Following the completion of the sale, the insider now owns 14,967 shares of the company’s stock, valued at approximately $1,496,700. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kate Haviland sold 1,446 shares of the stock in a transaction 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. The trade was a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,608 shares of company stock worth $3,319,587. Company insiders own 4.21% of the company’s stock.

Institutional Trading of Blueprint Medicines

Hedge funds have recently bought and sold shares of the company. Torray Investment Partners LLC grew its stake in shares of Blueprint Medicines by 1.1% during the 4th quarter. Torray Investment Partners LLC now owns 16,499 shares of the biotechnology company’s stock valued at $1,439,000 after purchasing an additional 186 shares during the period. Sherbrooke Park Advisers LLC grew its position in Blueprint Medicines by 8.4% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 3,374 shares of the biotechnology company’s stock valued at $294,000 after buying an additional 261 shares during the period. Franklin Resources Inc. grew its position in Blueprint Medicines by 0.7% during the third quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company’s stock valued at $3,259,000 after buying an additional 265 shares during the period. Summit Investment Advisors Inc. increased its holdings in Blueprint Medicines by 4.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,652 shares of the biotechnology company’s stock valued at $580,000 after buying an additional 283 shares during the last quarter. Finally, Pitcairn Co. raised its position in Blueprint Medicines by 2.8% in the fourth quarter. Pitcairn Co. now owns 10,608 shares of the biotechnology company’s stock worth $925,000 after acquiring an additional 293 shares during the period.

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.