Blueprint Medicines (BPMC) Shares Down 6.7%

Shares of Blueprint Medicines Corp (NASDAQ:BPMC) were down 6.7% during mid-day trading on Monday . The company traded as low as $75.76 and last traded at $75.88. Approximately 562,403 shares traded hands during trading, an increase of 28% from the average daily volume of 440,141 shares. The stock had previously closed at $81.30.

A number of analysts have recently issued reports on BPMC shares. BidaskClub raised Blueprint Medicines from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 31st. Morgan Stanley started coverage on Blueprint Medicines in a research report on Wednesday, April 3rd. They set an “overweight” rating and a $112.00 target price on the stock. Wedbush reaffirmed an “outperform” rating on shares of Blueprint Medicines in a research report on Tuesday, February 26th. Cowen reaffirmed a “buy” rating on shares of Blueprint Medicines in a research report on Tuesday, February 26th. Finally, ValuEngine raised Blueprint Medicines from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 10th. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $102.17.

The company has a debt-to-equity ratio of 0.27, a current ratio of 6.59 and a quick ratio of 6.59. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of -15.06 and a beta of 1.53.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($1.98) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.83) by ($0.15). The firm had revenue of $0.73 million during the quarter, compared to the consensus estimate of $1.38 million. Blueprint Medicines had a negative net margin of 603.88% and a negative return on equity of 59.26%. The firm’s quarterly revenue was down 23.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.29) earnings per share. As a group, sell-side analysts anticipate that Blueprint Medicines Corp will post -7.76 EPS for the current fiscal year.

In other news, insider Ariel Hurley sold 415 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $85.55, for a total transaction of $35,503.25. Following the completion of the transaction, the insider now directly owns 415 shares of the company’s stock, valued at $35,503.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey W. Albers sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $86.39, for a total value of $1,727,800.00. Following the transaction, the chief executive officer now directly owns 48,961 shares of the company’s stock, valued at $4,229,740.79. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,359 shares of company stock valued at $3,798,843. 3.15% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the company. TD Asset Management Inc. grew its holdings in shares of Blueprint Medicines by 2.4% during the fourth quarter. TD Asset Management Inc. now owns 63,025 shares of the biotechnology company’s stock valued at $3,398,000 after purchasing an additional 1,500 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Blueprint Medicines by 2.5% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 24,671 shares of the biotechnology company’s stock worth $1,330,000 after buying an additional 595 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in shares of Blueprint Medicines by 354.5% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 13,476 shares of the biotechnology company’s stock worth $726,000 after buying an additional 10,511 shares during the period. Rhumbline Advisers boosted its position in shares of Blueprint Medicines by 46.1% during the fourth quarter. Rhumbline Advisers now owns 55,349 shares of the biotechnology company’s stock worth $2,984,000 after buying an additional 17,475 shares during the period. Finally, Partner Fund Management L.P. boosted its position in shares of Blueprint Medicines by 2.1% during the fourth quarter. Partner Fund Management L.P. now owns 1,470,436 shares of the biotechnology company’s stock worth $79,271,000 after buying an additional 30,398 shares during the period. 93.93% of the stock is owned by institutional investors.

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Blueprint Medicines Company Profile (NASDAQ:BPMC)

Blueprint Medicines Corporation develops drugs of small molecule kinase inhibitors that target genomic drivers in various cancers and a rare genetic disease. Its lead drug candidates include avapritinib, which completed Phase I clinical trials that targets PDGFRA Exon 18 mutant GIST and KIT-driven GIST; and BLU-554, which is in Phase I clinical trials an orally available, potent, and irreversible inhibitor of the kinase FGFR4 that is activated in a defined subset of patients with hepatocellular carcinoma.

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