Blueprint Medicines (NASDAQ:BPMC) Shares Down 6.1%

Shares of Blueprint Medicines Corp (NASDAQ:BPMC) traded down 6.1% during trading on Monday . The company traded as low as $72.61 and last traded at $73.17, 829,289 shares traded hands during trading. An increase of 80% from the average session volume of 460,212 shares. The stock had previously closed at $77.96.

Several equities analysts recently commented on BPMC shares. Zacks Investment Research downgraded shares of Blueprint Medicines from a “buy” rating to a “sell” rating and set a $94.00 price target on the stock. in a report on Wednesday, August 7th. Cowen reissued a “buy” rating on shares of Blueprint Medicines in a research report on Monday. Deutsche Bank initiated coverage on shares of Blueprint Medicines in a research note on Thursday, July 18th. They issued a “buy” rating and a $110.00 price objective for the company. Canaccord Genuity boosted their target price on Blueprint Medicines from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, ValuEngine raised Blueprint Medicines from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 4th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $107.60.

The stock’s fifty day moving average price is $84.83 and its 200 day moving average price is $84.70. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.52 and a quick ratio of 7.52. The stock has a market capitalization of $3.59 billion, a P/E ratio of -14.25 and a beta of 1.64.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($2.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.92) by ($0.12). Blueprint Medicines had a negative return on equity of 73.73% and a negative net margin of 4,268.74%. The company had revenue of $5.11 million during the quarter, compared to analysts’ expectations of $1.39 million. During the same period in the prior year, the business earned ($0.62) EPS. The company’s quarterly revenue was down 87.7% on a year-over-year basis. On average, sell-side analysts expect that Blueprint Medicines Corp will post -8.44 earnings per share for the current year.

In other news, Director Alexis Borisy sold 21,818 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $92.01, for a total transaction of $2,007,474.18. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ariel Hurley sold 2,733 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $88.04, for a total transaction of $240,613.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 108,888 shares of company stock valued at $9,752,015. 4.02% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Nomura Holdings Inc. purchased a new position in Blueprint Medicines during the 2nd quarter worth $1,209,000. BlackRock Inc. raised its position in Blueprint Medicines by 20.9% during the 2nd quarter. BlackRock Inc. now owns 4,109,222 shares of the biotechnology company’s stock valued at $387,621,000 after purchasing an additional 710,147 shares in the last quarter. Chartwell Investment Partners LLC raised its position in Blueprint Medicines by 21.6% during the 2nd quarter. Chartwell Investment Partners LLC now owns 23,775 shares of the biotechnology company’s stock valued at $2,243,000 after purchasing an additional 4,219 shares in the last quarter. International Biotechnology Trust PLC purchased a new stake in shares of Blueprint Medicines in the 2nd quarter worth $1,604,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Blueprint Medicines by 62.8% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,097 shares of the biotechnology company’s stock worth $104,000 after buying an additional 423 shares during the period.

Blueprint Medicines Company Profile (NASDAQ:BPMC)

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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