Blueprint Medicines (NASDAQ:BPMC) Shares Gap Up – Time to Buy?

Blueprint Medicines Co. (NASDAQ:BPMCGet Free Report)’s share price gapped up before the market opened on Monday . The stock had previously closed at $87.43, but opened at $90.29. Blueprint Medicines shares last traded at $93.42, with a volume of 94,236 shares.

Analyst Ratings Changes

Several brokerages have recently weighed in on BPMC. UBS Group assumed coverage on Blueprint Medicines in a report on Thursday, October 24th. They issued a “neutral” rating and a $88.00 price objective for the company. JMP Securities reaffirmed a “market outperform” rating and set a $125.00 price target on shares of Blueprint Medicines in a research report on Monday, December 9th. Wells Fargo & Company cut their price objective on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. HC Wainwright restated a “buy” rating and set a $135.00 target price on shares of Blueprint Medicines in a report on Friday, November 15th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a research note on Monday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $122.72.

Read Our Latest Stock Analysis on Blueprint Medicines

Blueprint Medicines Stock Performance

The company has a fifty day moving average of $93.65 and a two-hundred day moving average of $95.33. The firm has a market capitalization of $6.52 billion, a price-to-earnings ratio of -48.61 and a beta of 0.61. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32.

Blueprint Medicines (NASDAQ:BPMCGet Free Report) last posted its earnings results 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 company had revenue of $128.20 million during the quarter, compared to the consensus estimate of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The company’s revenue was up 126.5% on a year-over-year basis. During the same quarter last year, the firm earned ($2.20) earnings per share. As a group, equities research analysts predict that Blueprint Medicines Co. will post -3.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Ariel Hurley sold 1,819 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $93.26, for a total transaction of $169,639.94. Following the transaction, the insider now directly owns 14,967 shares of the company’s stock, valued at approximately $1,395,822.42. This trade represents a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kate Haviland sold 2,353 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $96.60, for a total value of $227,299.80. Following the completion of the sale, the chief executive officer now owns 150,824 shares of the company’s stock, valued at approximately $14,569,598.40. This trade represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,720 shares of company stock worth $2,177,846 in the last quarter. 4.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Quarry LP bought a new stake in Blueprint Medicines during the third quarter worth about $32,000. Covestor Ltd raised its position in shares of Blueprint Medicines by 206.7% in the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock valued at $55,000 after buying an additional 403 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Blueprint Medicines during the 3rd quarter worth approximately $108,000. Values First Advisors Inc. acquired a new stake in shares of Blueprint Medicines during the 3rd quarter worth approximately $122,000. Finally, CWM LLC increased its stake in Blueprint Medicines by 69.2% in the third quarter. CWM LLC now owns 1,870 shares of the biotechnology company’s stock valued at $173,000 after acquiring an additional 765 shares during the last quarter.

Blueprint Medicines Company Profile

(Get Free Report)

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.

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