Analysts Expect Blueprint Medicines Corp (NASDAQ:BPMC) Will Post Quarterly Sales of $24.02 Million

Brokerages forecast that Blueprint Medicines Corp (NASDAQ:BPMC) will report $24.02 million in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Blueprint Medicines’ earnings, with the highest sales estimate coming in at $35.02 million and the lowest estimate coming in at $3.00 million. Blueprint Medicines reported sales of $1.03 million in the same quarter last year, which would suggest a positive year over year growth rate of 2,232%. The company is scheduled to report its next earnings results on Tuesday, February 25th.

According to Zacks, analysts expect that Blueprint Medicines will report full-year sales of $40.22 million for the current year, with estimates ranging from $18.00 million to $50.00 million. For the next year, analysts expect that the company will post sales of $31.06 million, with estimates ranging from $11.46 million to $60.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Blueprint Medicines.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Tuesday, November 5th. The biotechnology company reported ($1.93) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.19) by $0.26. The firm had revenue of $9.14 million during the quarter, compared to analyst estimates of $2.85 million. Blueprint Medicines had a negative return on equity of 77.27% and a negative net margin of 2,258.84%. The firm’s quarterly revenue was up 734.6% on a year-over-year basis. During the same period last year, the company posted ($1.66) EPS.

BPMC has been the subject of several research reports. Piper Jaffray Companies reduced their price objective on Blueprint Medicines from $85.00 to $77.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Deutsche Bank reduced their price objective on Blueprint Medicines from $75.00 to $70.00 and set a “hold” rating for the company in a research note on Tuesday, December 10th. Cowen reissued a “buy” rating on shares of Blueprint Medicines in a research note on Monday, September 30th. JMP Securities initiated coverage on Blueprint Medicines in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $106.00 price objective for the company. Finally, Wedbush reissued an “outperform” rating and set a price objective (down from ) on shares of Blueprint Medicines in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Blueprint Medicines has an average rating of “Buy” and an average target price of $106.25.

NASDAQ BPMC traded down $1.61 on Monday, reaching $65.58. 1,862,280 shares of the stock traded hands, compared to its average volume of 786,427. The firm’s fifty day simple moving average is $78.44 and its 200 day simple moving average is $80.23. The company has a quick ratio of 5.46, a current ratio of 5.46 and a debt-to-equity ratio of 0.18. The company has a market cap of $3.23 billion, a price-to-earnings ratio of -8.43 and a beta of 1.62. Blueprint Medicines has a 12 month low of $64.30 and a 12 month high of $102.98.

In other news, insider Ariel Hurley sold 415 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $75.00, for a total value of $31,125.00. Following the completion of the sale, the insider now owns 415 shares in the company, valued at $31,125. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey W. Albers sold 11,744 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $74.56, for a total value of $875,632.64. Following the completion of the sale, the chief executive officer now owns 66,961 shares of the company’s stock, valued at approximately $4,992,612.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,243 shares of company stock valued at $2,754,440. Corporate insiders own 4.02% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its holdings in shares of Blueprint Medicines by 64.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 460 shares of the biotechnology company’s stock valued at $37,000 after purchasing an additional 180 shares in the last quarter. Allworth Financial LP purchased a new stake in shares of Blueprint Medicines in the fourth quarter valued at $27,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Blueprint Medicines by 62.8% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,097 shares of the biotechnology company’s stock valued at $104,000 after purchasing an additional 423 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Blueprint Medicines by 21.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,906 shares of the biotechnology company’s stock valued at $214,000 after purchasing an additional 521 shares in the last quarter. Finally, Whittier Trust Co. lifted its holdings in shares of Blueprint Medicines by 58.1% in the third quarter. Whittier Trust Co. now owns 1,632 shares of the biotechnology company’s stock valued at $120,000 after purchasing an additional 600 shares in the last quarter.

Blueprint Medicines Company Profile

Blueprint Medicines Corporation develops drugs of small molecule kinase inhibitors that target genomic drivers in various cancers and a rare genetic disease. Its lead drug candidates include avapritinib, which completed Phase I clinical trials that targets PDGFRA Exon 18 mutant GIST and KIT-driven GIST; and BLU-554, which is in Phase I clinical trials an orally available, potent, and irreversible inhibitor of the kinase FGFR4 that is activated in a defined subset of patients with hepatocellular carcinoma.

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Earnings History and Estimates for Blueprint Medicines (NASDAQ:BPMC)

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