Blueprint Medicines (NASDAQ:BPMC) Hits New 52-Week High at $107.56

Blueprint Medicines Co. (NASDAQ:BPMC)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $107.56 and last traded at $107.00, with a volume of 391291 shares. The stock had previously closed at $94.86.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BPMC. Stifel Nicolaus upped their price objective on Blueprint Medicines from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. JMP Securities reiterated a “market outperform” rating and set a $114.00 price objective on shares of Blueprint Medicines in a research note on Wednesday, April 10th. Barclays upped their price objective on Blueprint Medicines from $58.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 13th. HC Wainwright reiterated a “buy” rating and set a $125.00 price objective on shares of Blueprint Medicines in a research note on Friday, April 26th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $97.00 price objective on shares of Blueprint Medicines in a research note on Thursday. Four research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $91.57.

Blueprint Medicines Trading Up 12.4 %

The company has a debt-to-equity ratio of 1.60, a quick ratio of 3.66 and a current ratio of 3.76. The business has a fifty day simple moving average of $91.00 and a 200 day simple moving average of $79.92. The stock has a market capitalization of $6.53 billion, a price-to-earnings ratio of -12.33 and a beta of 0.65.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.82) EPS for the quarter, beating analysts’ consensus estimates of ($2.04) by $0.22. Blueprint Medicines had a negative return on equity of 191.56% and a negative net margin of 203.30%. The firm had revenue of $71.96 million for the quarter, compared to analyst estimates of $67.34 million. During the same period in the prior year, the firm posted ($2.65) EPS. The company’s revenue for the quarter was up 85.5% on a year-over-year basis. As a group, research analysts expect that Blueprint Medicines Co. will post -5.41 EPS for the current year.

Insider Buying and Selling at Blueprint Medicines

In other news, CEO Kate Haviland sold 12,464 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $90.69, for a total transaction of $1,130,360.16. Following the sale, the chief executive officer now directly owns 153,177 shares of the company’s stock, valued at approximately $13,891,622.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Kate Haviland sold 12,464 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $90.69, for a total transaction of $1,130,360.16. Following the sale, the chief executive officer now directly owns 153,177 shares of the company’s stock, valued at approximately $13,891,622.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Christopher K. Murray sold 5,000 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $100.00, for a total value of $500,000.00. Following the sale, the insider now directly owns 24,495 shares in the company, valued at $2,449,500. The disclosure for this sale can be found here. Insiders have sold a total of 92,289 shares of company stock valued at $8,314,163 in the last ninety days. 3.88% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Blueprint Medicines

Several large investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in Blueprint Medicines in the first quarter valued at about $218,000. Principal Financial Group Inc. raised its position in Blueprint Medicines by 331.9% in the first quarter. Principal Financial Group Inc. now owns 62,670 shares of the biotechnology company’s stock valued at $5,945,000 after purchasing an additional 48,160 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in Blueprint Medicines by 67.5% in the first quarter. China Universal Asset Management Co. Ltd. now owns 11,777 shares of the biotechnology company’s stock valued at $1,117,000 after purchasing an additional 4,745 shares during the last quarter. Peregrine Capital Management LLC raised its position in shares of Blueprint Medicines by 2.0% during the first quarter. Peregrine Capital Management LLC now owns 93,583 shares of the biotechnology company’s stock worth $8,877,000 after acquiring an additional 1,810 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of Blueprint Medicines by 8.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 36,929 shares of the biotechnology company’s stock worth $3,503,000 after acquiring an additional 2,884 shares during the last quarter.

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.