Insider Selling: Blueprint Medicines Corporation (NASDAQ:BPMC) Insider Sells 1,051 Shares of Stock

Blueprint Medicines Corporation (NASDAQ:BPMC) insider Percy H. Carter sold 1,051 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $128.25, for a total value of $134,790.75. Following the transaction, the insider owned 53,155 shares in the company, valued at $6,817,128.75. This trade represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Blueprint Medicines Stock Performance

NASDAQ BPMC opened at $128.40 on Wednesday. Blueprint Medicines Corporation has a fifty-two week low of $73.04 and a fifty-two week high of $128.78. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.75 and a current ratio of 2.80. The stock has a 50 day simple moving average of $115.15 and a two-hundred day simple moving average of $101.02. The stock has a market cap of $8.29 billion, a P/E ratio of -51.98 and a beta of 0.89.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.32). Blueprint Medicines had a negative return on equity of 64.60% and a negative net margin of 27.70%. The business had revenue of $149.41 million during the quarter, compared to analysts’ expectations of $158.31 million. During the same quarter last year, the business posted $1.40 EPS. The company’s quarterly revenue was up 55.5% compared to the same quarter last year. On average, analysts forecast that Blueprint Medicines Corporation will post -1.28 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on BPMC shares. HC Wainwright reiterated a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a research report on Friday, May 2nd. Guggenheim set a $132.00 price objective on Blueprint Medicines in a research report on Tuesday, June 3rd. UBS Group increased their price objective on Blueprint Medicines from $88.00 to $129.00 and gave the company a “neutral” rating in a research report on Thursday, June 5th. Wells Fargo & Company lowered Blueprint Medicines from a “strong-buy” rating to a “hold” rating and reduced their price objective for the company from $143.00 to $129.00 in a research report on Tuesday, June 17th. Finally, Citigroup upgraded Blueprint Medicines from a “strong sell” rating to a “hold” rating and increased their target price for the company from $83.00 to $129.00 in a report on Wednesday, June 4th. Eighteen investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $128.25.

Institutional Investors Weigh In On Blueprint Medicines

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its stake in shares of Blueprint Medicines by 2.4% in the 4th quarter. Bank of New York Mellon Corp now owns 303,432 shares of the biotechnology company’s stock valued at $26,465,000 after purchasing an additional 7,101 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Blueprint Medicines by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 604,397 shares of the biotechnology company’s stock valued at $52,716,000 after purchasing an additional 7,165 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Blueprint Medicines in the 4th quarter valued at approximately $1,012,000. Arizona State Retirement System lifted its stake in shares of Blueprint Medicines by 7.2% in the 4th quarter. Arizona State Retirement System now owns 18,353 shares of the biotechnology company’s stock valued at $1,601,000 after purchasing an additional 1,225 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Blueprint Medicines in the 4th quarter valued at approximately $21,104,000.

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.