Blueprint Medicines (BPMC) Shares Down 6.7%

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

Several brokerages have issued reports on BPMC. Zacks Investment Research raised shares of Blueprint Medicines from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a research note on Tuesday, April 30th. Cowen reaffirmed a “buy” rating on shares of Blueprint Medicines in a research note on Thursday, March 28th. BidaskClub downgraded shares of Blueprint Medicines from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 16th. Wedbush reaffirmed an “outperform” rating on shares of Blueprint Medicines in a research note on Tuesday, February 26th. Finally, ValuEngine raised shares of Blueprint Medicines from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 10th. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. The company 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 quick ratio of 6.59 and a current ratio of 6.59. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of -15.06 and a beta of 1.53.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($1.98) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.83) by ($0.15). Blueprint Medicines had a negative return on equity of 59.26% and a negative net margin of 603.88%. The company had revenue of $0.73 million during the quarter, compared to analyst estimates of $1.38 million. During the same period last year, the company posted ($1.29) earnings per share. The company’s revenue was down 23.2% compared to the same quarter last year. Equities research analysts predict that Blueprint Medicines Corp will post -7.76 EPS for the current fiscal year.

In related news, COO Kate Haviland sold 21,644 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $85.05, for a total value of $1,840,822.20. Following the completion of the sale, the chief operating officer now directly owns 20,018 shares in the company, valued at $1,702,530.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ariel Hurley sold 415 shares of the company’s stock in a transaction 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 sale, the insider now owns 415 shares of the company’s stock, valued at $35,503.25. The disclosure for this sale can be found here. Insiders sold 44,359 shares of company stock worth $3,798,843 over the last ninety days. 3.15% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of BPMC. Hillhouse Capital Advisors Ltd. bought a new stake in Blueprint Medicines in the fourth quarter worth $77,142,000. Norges Bank bought a new stake in Blueprint Medicines in the fourth quarter worth $42,705,000. Perceptive Advisors LLC boosted its holdings in Blueprint Medicines by 48.3% in the first quarter. Perceptive Advisors LLC now owns 1,271,054 shares of the biotechnology company’s stock worth $101,748,000 after purchasing an additional 413,728 shares in the last quarter. FMR LLC boosted its holdings in Blueprint Medicines by 5.3% in the first quarter. FMR LLC now owns 6,939,294 shares of the biotechnology company’s stock worth $555,491,000 after purchasing an additional 346,738 shares in the last quarter. Finally, Foresite Capital Management III LLC boosted its holdings in Blueprint Medicines by 133.8% in the fourth quarter. Foresite Capital Management III LLC now owns 467,682 shares of the biotechnology company’s stock worth $25,213,000 after purchasing an additional 267,682 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

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About Blueprint Medicines (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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