Blueprint Medicines (NASDAQ:BPMC) Sets New 12-Month Low – Here’s What Happened

Shares of Blueprint Medicines Co. (NASDAQ:BPMC) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $80.08 and last traded at $81.68, with a volume of 1492586 shares changing hands. The stock had previously closed at $87.11.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Wolfe Research started coverage on Blueprint Medicines in a research report on Tuesday, March 18th. They issued an “outperform” rating for the company. Guggenheim reaffirmed a “buy” rating on shares of Blueprint Medicines in a report on Wednesday, December 11th. HC Wainwright reissued a “buy” rating and set a $135.00 target price on shares of Blueprint Medicines in a research report on Friday, February 14th. Piper Sandler raised their price target on Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. boosted their price objective on Blueprint Medicines from $126.00 to $129.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Blueprint Medicines has an average rating of “Moderate Buy” and an average target price of $124.95.

Blueprint Medicines Trading Down 6.2 %

The company has a market cap of $5.22 billion, a price-to-earnings ratio of -75.63 and a beta of 0.75. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80. The business has a 50 day simple moving average of $95.52 and a 200 day simple moving average of $93.99.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates 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%. As a group, equities analysts forecast that Blueprint Medicines Co. will post -1.28 EPS for the current year.

Insider Activity at Blueprint Medicines

In other news, insider Ariel Hurley sold 2,250 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $100.00, for a total transaction of $225,000.00. Following the completion of the sale, the insider now owns 14,967 shares in the company, valued at $1,496,700. The trade was a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeffrey W. Albers sold 15,161 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $109.53, for a total value of $1,660,584.33. Following the completion of the transaction, the director now owns 152,396 shares in the company, valued at approximately $16,691,933.88. This represents a 9.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,608 shares of company stock valued at $3,319,587 over the last quarter. Corporate insiders own 4.21% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

A number of institutional investors have recently made changes to their positions in BPMC. Quarry LP bought a new position in Blueprint Medicines during the third quarter worth about $32,000. R Squared Ltd acquired a new position in Blueprint Medicines during the fourth quarter valued at approximately $51,000. Headlands Technologies LLC bought a new stake in Blueprint Medicines in the fourth quarter valued at approximately $65,000. Thematics Asset Management acquired a new stake in Blueprint Medicines in the fourth quarter worth $72,000. Finally, Covestor Ltd grew its holdings in shares of Blueprint Medicines by 62.7% in the 4th quarter. Covestor Ltd now owns 973 shares of the biotechnology company’s stock valued at $85,000 after buying an additional 375 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.