Blueprint Medicines Co. (NASDAQ:BPMC – Get Rating) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 5,520,000 shares, a growth of 16.9% from the August 15th total of 4,720,000 shares. Based on an average daily volume of 980,900 shares, the short-interest ratio is presently 5.6 days. Currently, 9.6% of the shares of the company are short sold.
Wall Street Analysts Forecast Growth
BPMC has been the topic of a number of research reports. Morgan Stanley raised their price target on shares of Blueprint Medicines from $65.00 to $80.00 and gave the company an "equal weight" rating in a research note on Friday, September 9th. Raymond James decreased their price target on shares of Blueprint Medicines from $133.00 to $115.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, August 3rd. Stifel Nicolaus raised their price target on shares of Blueprint Medicines from $93.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, August 18th. The Goldman Sachs Group raised their price target on shares of Blueprint Medicines from $126.00 to $143.00 and gave the company a "buy" rating in a research note on Wednesday, August 3rd. Finally, HC Wainwright decreased their price target on shares of Blueprint Medicines from $100.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, August 17th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Blueprint Medicines has a consensus rating of "Moderate Buy" and a consensus price target of $92.06.
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Insiders Place Their Bets
In other news, SVP Christopher K. Murray sold 2,500 shares of the firm's stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $60.44, for a total transaction of $151,100.00. Following the sale, the senior vice president now directly owns 21,320 shares in the company, valued at approximately $1,288,580.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Jeffrey W. Albers sold 20,000 shares of the firm's stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $68.41, for a total transaction of $1,368,200.00. Following the sale, the director now directly owns 183,243 shares in the company, valued at approximately $12,535,653.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Christopher K. Murray sold 2,500 shares of the firm's stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $60.44, for a total value of $151,100.00. Following the sale, the senior vice president now owns 21,320 shares in the company, valued at $1,288,580.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,500 shares of company stock valued at $3,300,123. Company insiders own 3.42% of the company's stock.
Hedge Funds Weigh In On Blueprint Medicines
Several institutional investors have recently modified their holdings of BPMC. FMR LLC lifted its position in Blueprint Medicines by 60.8% in the second quarter. FMR LLC now owns 8,576,079 shares of the biotechnology company's stock valued at $433,178,000 after acquiring an additional 3,242,698 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Blueprint Medicines by 14.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 5,631,687 shares of the biotechnology company's stock worth $284,457,000 after buying an additional 698,562 shares during the period. BlackRock Inc. lifted its holdings in shares of Blueprint Medicines by 0.9% in the first quarter. BlackRock Inc. now owns 5,383,138 shares of the biotechnology company's stock valued at $343,876,000 after purchasing an additional 46,264 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Blueprint Medicines by 12.4% in the first quarter. Wellington Management Group LLP now owns 3,908,944 shares of the biotechnology company's stock valued at $249,703,000 after purchasing an additional 431,619 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Blueprint Medicines by 19.8% in the second quarter. State Street Corp now owns 2,716,542 shares of the biotechnology company's stock valued at $137,213,000 after purchasing an additional 449,648 shares in the last quarter.
Blueprint Medicines Stock Up 1.3 %
Shares of NASDAQ BPMC traded up $0.92 during midday trading on Monday, reaching $70.15. 22,685 shares of the stock were exchanged, compared to its average volume of 783,081. The company has a 50 day simple moving average of $64.87 and a 200 day simple moving average of $60.99. Blueprint Medicines has a twelve month low of $43.46 and a twelve month high of $117.86.
Blueprint Medicines (NASDAQ:BPMC – Get Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The biotechnology company reported ($2.68) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.23) by ($0.45). Blueprint Medicines had a negative return on equity of 45.89% and a negative net margin of 304.41%. The firm had revenue of $36.55 million for the quarter, compared to analyst estimates of $37.61 million. During the same quarter in the prior year, the business earned ($1.86) EPS. The firm's quarterly revenue was up 33.9% on a year-over-year basis. On average, equities research analysts predict that Blueprint Medicines will post -9.35 earnings per share for the current year.
Blueprint Medicines Company Profile
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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 non-advanced SM and other mast cell disorders; and Fisogatinib, an orally available and potent inhibitor for the treatment of hepatocellular carcinoma.
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