Blueprint Medicines (NASDAQ:BPMC) Stock Price Up 5.7% – Time to Buy?

Shares of Blueprint Medicines Co. (NASDAQ:BPMC) shot up 5.7% during trading on Tuesday . The stock traded as high as $95.48 and last traded at $94.68. 330,942 shares changed hands during trading, a decline of 27% from the average session volume of 454,721 shares. The stock had previously closed at $89.54.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BPMC. Needham & Company LLC reaffirmed a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a report on Friday, November 15th. Wedbush reaffirmed an “outperform” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research report on Thursday, November 14th. JMP Securities reissued a “market outperform” rating and issued a $125.00 target price on shares of Blueprint Medicines in a report on Monday, December 9th. Stephens reaffirmed an “overweight” rating and set a $140.00 price objective on shares of Blueprint Medicines in a research report on Thursday, January 2nd. Finally, StockNews.com upgraded shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Blueprint Medicines currently has an average rating of “Moderate Buy” and an average price target of $123.33.

Blueprint Medicines Stock Performance

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 company has a market cap of $6.00 billion, a PE ratio of -44.75 and a beta of 0.61. The business’s 50 day moving average is $93.17 and its two-hundred day moving average is $95.77.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.08. The firm had revenue of $128.20 million during the quarter, compared to analyst estimates of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The business’s quarterly revenue was up 126.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($2.20) earnings per share. On average, equities research analysts anticipate that Blueprint Medicines Co. will post -3.68 EPS for the current year.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, insider Ariel Hurley sold 1,819 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeffrey W. Albers sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $89.77, for a total value of $1,346,550.00. Following the sale, the director now directly owns 157,557 shares in the company, valued at $14,143,891.89. This trade represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,720 shares of company stock valued at $2,177,846 in the last three months. 4.21% of the stock is currently owned by corporate insiders.

Institutional Trading of Blueprint Medicines

Hedge funds have recently made changes to their positions in the business. Quarry LP bought a new stake in Blueprint Medicines in the third quarter worth about $32,000. Covestor Ltd increased its stake in Blueprint Medicines by 206.7% in the third quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 403 shares during the period. Quantbot Technologies LP bought a new stake in shares of Blueprint Medicines during the third quarter worth $108,000. Van ECK Associates Corp boosted its stake in shares of Blueprint Medicines by 13.3% during the second quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $120,000 after purchasing an additional 131 shares during the period. Finally, Values First Advisors Inc. bought a new position in shares of Blueprint Medicines in the third quarter worth about $122,000.

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.