Blueprint Medicines (NASDAQ:BPMC) Sees Large Volume Increase – Should You Buy?

Blueprint Medicines Co. (NASDAQ:BPMC) shares saw unusually-high trading volume on Monday . Approximately 1,262,327 shares changed hands during trading, an increase of 5% from the previous session’s volume of 1,205,927 shares.The stock last traded at $128.01 and had previously closed at $127.96.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on BPMC shares. Citizens Jmp lowered shares of Blueprint Medicines from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 3rd. Stephens cut shares of Blueprint Medicines from a “strong-buy” rating to a “hold” rating and cut their price target for the company from $150.00 to $135.00 in a report on Tuesday, June 3rd. Scotiabank lowered shares of Blueprint Medicines from a “strong-buy” rating to a “sector perform” rating and set a $135.00 target price on the stock. in a research note on Monday, June 2nd. Needham & Company LLC lowered shares of Blueprint Medicines from a “buy” rating to a “hold” rating and set a $130.00 price target for the company. in a report on Monday, June 2nd. Finally, UBS Group increased their price objective on shares of Blueprint Medicines from $88.00 to $129.00 and gave the stock a “neutral” rating in a research note on Thursday, June 5th. Seventeen analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Blueprint Medicines presently has an average rating of “Hold” and an average target price of $129.35.

Blueprint Medicines Price Performance

The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. The company has a fifty day moving average price of $100.02 and a two-hundred day moving average price of $97.05. The company has a market cap of $8.27 billion, a price-to-earnings ratio of -118.61 and a beta of 0.84.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.32). The firm had revenue of $149.41 million for the quarter, compared to analyst estimates of $158.31 million. Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. The company’s revenue for the quarter was up 55.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.40 EPS. As a group, equities research analysts anticipate that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $95.02, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey W. Albers sold 5,000 shares of Blueprint Medicines stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $101.14, for a total transaction of $505,700.00. Following the completion of the transaction, the director now directly owns 146,630 shares of the company’s stock, valued at approximately $14,830,158.20. This trade represents a 3.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,574 shares of company stock valued at $1,465,528. 4.21% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BPMC. Avoro Capital Advisors LLC acquired a new stake in Blueprint Medicines during the fourth quarter worth approximately $103,356,000. Siren L.L.C. acquired a new position in Blueprint Medicines during the first quarter valued at approximately $64,273,000. Norges Bank acquired a new position in Blueprint Medicines during the fourth quarter worth about $62,028,000. T. Rowe Price Investment Management Inc. boosted its position in Blueprint Medicines by 86.9% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,302,810 shares of the biotechnology company’s stock valued at $115,312,000 after buying an additional 605,783 shares in the last quarter. Finally, Braidwell LP bought a new position in shares of Blueprint Medicines in the 1st quarter valued at $38,942,000.

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.