Blueprint Medicines Co. (NASDAQ:BPMC) Short Interest Update

Blueprint Medicines Co. (NASDAQ:BPMC) was the target of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 4,190,000 shares, an increase of 7.2% from the November 15th total of 3,910,000 shares. Based on an average daily volume of 628,200 shares, the days-to-cover ratio is presently 6.7 days.

Blueprint Medicines Price Performance

Shares of BPMC stock traded up $1.33 during trading hours on Tuesday, hitting $96.72. The company had a trading volume of 130,352 shares, compared to its average volume of 683,715. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of -45.21 and a beta of 0.59. Blueprint Medicines has a 12 month low of $72.24 and a 12 month high of $121.90. The firm’s fifty day moving average is $92.15 and its 200 day moving average is $97.39.

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

Analysts Set New Price Targets

Several research analysts recently commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a report on Friday, November 15th. Wedbush reissued an “outperform” rating and set a $135.00 price objective on shares of Blueprint Medicines in a research report on Thursday, November 14th. JMP Securities restated a “market outperform” rating and set a $125.00 target price on shares of Blueprint Medicines in a research note on Monday, December 9th. Guggenheim reaffirmed a “buy” rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Blueprint Medicines currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.11.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, 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 directly owns 150,824 shares of the company’s stock, valued at $14,569,598.40. The trade was a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $95.10, for a total transaction of $216,257.40. Following the completion of the sale, the chief operating officer now directly owns 71,657 shares of the company’s stock, valued at approximately $6,814,580.70. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,079 shares of company stock valued at $937,697. Corporate insiders own 4.21% of the company’s stock.

Hedge Funds Weigh In On Blueprint Medicines

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of Blueprint Medicines during the third quarter worth $32,000. Covestor Ltd raised its stake in shares of 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 acquiring an additional 403 shares during the last quarter. CWM LLC grew its stake in shares of Blueprint Medicines by 114.6% during the second quarter. CWM LLC now owns 1,105 shares of the biotechnology company’s stock valued at $119,000 after purchasing an additional 590 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Blueprint Medicines by 13.3% in 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 in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Blueprint Medicines in the third quarter valued at approximately $108,000.

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.