Shares of Blueprint Medicines Co. (NASDAQ:BPMC – Get Free Report) saw strong trading volume on Tuesday . 1,145,293 shares changed hands during mid-day trading, an increase of 0% from the previous session’s volume of 1,139,685 shares.The stock last traded at $127.86 and had previously closed at $127.97.
Analyst Ratings Changes
A number of equities analysts have commented on BPMC shares. TD Cowen downgraded Blueprint Medicines from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 3rd. UBS Group boosted their price objective on Blueprint Medicines from $88.00 to $129.00 and gave the company a “neutral” rating in a research report on Thursday, June 5th. Jefferies Financial Group started coverage on Blueprint Medicines in a research note on Monday, March 17th. They set a “buy” rating and a $135.00 price objective for the company. Needham & Company LLC cut Blueprint Medicines from a “buy” rating to a “hold” rating and set a $130.00 target price on the stock. in a research note on Monday, June 2nd. Finally, Citizens Jmp downgraded shares of Blueprint Medicines from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 3rd. Seventeen research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $129.35.
Check Out Our Latest Report on Blueprint Medicines
Blueprint Medicines Stock Down 0.0%
Blueprint Medicines (NASDAQ:BPMC – Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.32). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. The company had revenue of $149.41 million during the quarter, compared to analyst estimates of $158.31 million. During the same period in the prior year, the company posted $1.40 earnings per share. The company’s revenue was up 55.5% on a year-over-year basis. As a group, research analysts anticipate that Blueprint Medicines Co. will post -1.28 earnings per share for the current fiscal year.
Insider Buying and Selling at Blueprint Medicines
In other news, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $95.02, for a total value of $216,075.48. Following the transaction, the chief operating officer now owns 69,266 shares of the company’s stock, valued at $6,581,655.32. The trade was a 3.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jeffrey W. Albers sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $101.14, for a total transaction of $505,700.00. Following the sale, the director now directly owns 146,630 shares of the company’s stock, valued at approximately $14,830,158.20. This represents a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,574 shares of company stock valued at $1,465,528. 4.21% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Blueprint Medicines
Large investors have recently modified their holdings of the stock. Stephens Inc. AR acquired a new stake in shares of Blueprint Medicines during the fourth quarter worth $321,000. Values First Advisors Inc. increased its stake in Blueprint Medicines by 277.9% in the 4th quarter. Values First Advisors Inc. now owns 4,970 shares of the biotechnology company’s stock worth $433,000 after purchasing an additional 3,655 shares in the last quarter. Van ECK Associates Corp raised its holdings in Blueprint Medicines by 48.2% during the 4th quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock worth $97,000 after buying an additional 363 shares during the period. Asset Management One Co. Ltd. purchased a new stake in Blueprint Medicines during the fourth quarter valued at about $88,000. Finally, State of New Jersey Common Pension Fund D lifted its stake in Blueprint Medicines by 12.2% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 25,626 shares of the biotechnology company’s stock valued at $2,235,000 after buying an additional 2,780 shares in the last quarter.
Blueprint Medicines Company Profile
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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