Blueprint Medicines (NASDAQ:BPMC) Announces Earnings Results

Blueprint Medicines (NASDAQ:BPMC) posted its quarterly earnings results on Wednesday. The biotechnology company reported ($0.89) earnings per share for the quarter, beating the consensus estimate of ($0.97) by $0.08, Briefing.com reports. The firm had revenue of $128.20 million during the quarter, compared to the consensus estimate of $127.56 million. Blueprint Medicines had a negative net margin of 56.64% and a negative return on equity of 157.30%. The business’s revenue was up 126.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($2.20) earnings per share.

Blueprint Medicines Stock Down 0.6 %

NASDAQ:BPMC traded down $0.53 during mid-day trading on Thursday, hitting $88.71. 207,810 shares of the company’s stock were exchanged, compared to its average volume of 692,086. The company has a market cap of $5.55 billion, a PE ratio of -18.55 and a beta of 0.58. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.71 and a quick ratio of 3.65. Blueprint Medicines has a one year low of $53.73 and a one year high of $121.90. The business has a fifty day moving average price of $88.98 and a 200 day moving average price of $98.43.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Barclays boosted their target price on Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Morgan Stanley upped their target price on Blueprint Medicines from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Friday, July 12th. UBS Group assumed coverage on shares of Blueprint Medicines in a research note on Thursday, October 24th. They set a “neutral” rating and a $88.00 price target for the company. Guggenheim raised their price target on shares of Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $133.00 price objective on shares of Blueprint Medicines in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $118.39.

Insider Activity

In other Blueprint Medicines news, insider Philina Lee sold 41,913 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the completion of the sale, the insider now directly owns 34,729 shares in the company, valued at approximately $3,236,395.51. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Fouad Namouni sold 3,633 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total transaction of $324,499.56. Following the completion of the transaction, the insider now directly owns 69,070 shares of the company’s stock, valued at $6,169,332.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Philina Lee sold 41,913 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the sale, the insider now owns 34,729 shares of the company’s stock, valued at approximately $3,236,395.51. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.21% of the company’s stock.

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.