Blueprint Medicines (NASDAQ:BPMC) Sees Strong Trading Volume – What’s Next?

Shares of Blueprint Medicines Co. (NASDAQ:BPMC) saw strong trading volume on Monday . 1,262,327 shares traded hands during trading, an increase of 5% from the previous session’s volume of 1,205,927 shares.The stock last traded at $128.01 and had previously closed at $127.96.

Wall Street Analyst Weigh In

BPMC has been the topic of several analyst reports. Citizens Jmp cut Blueprint Medicines from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 3rd. Scotiabank downgraded shares of Blueprint Medicines from a “strong-buy” rating to a “sector perform” rating and set a $135.00 price objective on the stock. in a report on Monday, June 2nd. UBS Group upped their price objective on shares of Blueprint Medicines from $88.00 to $129.00 and gave the company a “neutral” rating in a report on Thursday, June 5th. TD Cowen cut Blueprint Medicines from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 3rd. Finally, Wall Street Zen upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Friday, May 2nd. Seventeen investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $129.35.

Blueprint Medicines Trading Up 0.1%

The business’s 50-day simple moving average is $100.02 and its two-hundred day simple moving average is $97.05. The company has a market capitalization of $8.27 billion, a PE ratio of -118.61 and a beta of 0.84. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.32). The business had revenue of $149.41 million during the quarter, compared to analysts’ expectations of $158.31 million. Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. Blueprint Medicines’s revenue for the quarter was up 55.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.40 EPS. On average, analysts predict that Blueprint Medicines Co. will post -1.28 earnings per share for the current year.

Insider Transactions at Blueprint Medicines

In other news, Director Jeffrey W. Albers sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $101.14, for a total transaction of $505,700.00. Following the transaction, the director now directly owns 146,630 shares of the company’s stock, valued at approximately $14,830,158.20. This trade represents a 3.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Christina Rossi sold 2,274 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $95.02, for a total value of $216,075.48. Following the sale, the chief operating officer now owns 69,266 shares in the company, valued at $6,581,655.32. This represents a 3.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,574 shares of company stock valued at $1,465,528 over the last three months. 4.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BPMC. Headlands Technologies LLC bought a new position in shares of Blueprint Medicines in the 4th quarter worth $65,000. Thematics Asset Management purchased a new stake in shares of Blueprint Medicines during the 4th quarter valued at about $72,000. Covestor Ltd grew its position in Blueprint Medicines by 62.7% in the 4th quarter. Covestor Ltd now owns 973 shares of the biotechnology company’s stock worth $85,000 after purchasing an additional 375 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in Blueprint Medicines in the first quarter valued at about $87,000. Finally, Asset Management One Co. Ltd. purchased a new position in shares of Blueprint Medicines during the 4th quarter valued at $88,000.

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.