Blueprint Medicines Corp. (BPMC) Reaches New 1-Year High on Earnings Beat
Blueprint Medicines Corp. (NASDAQ:BPMC) shares reached a new 52-week high during trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $34.83 and last traded at $34.87, with a volume of 196,623 shares. The stock had previously closed at $33.19.
The company reported ($0.62) earnings per share for the quarter, beating the consensus estimate of ($0.79) by $0.17. The business earned $6.16 million during the quarter, compared to analysts’ expectations of $6.06 million. Blueprint Medicines Corp. had a negative return on equity of 46.01% and a negative net margin of 284.85%. The firm’s revenue for the quarter was up 79.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.47) EPS.
BPMC has been the subject of several research analyst reports. Cowen and Company restated a “buy” rating on shares of Blueprint Medicines Corp. in a report on Thursday, November 3rd. Canaccord Genuity initiated coverage on Blueprint Medicines Corp. in a report on Friday, August 5th. They issued a “buy” rating and a $26.00 target price for the company. Zacks Investment Research upgraded Blueprint Medicines Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, October 18th. TheStreet upgraded Blueprint Medicines Corp. from a “sell” rating to a “hold” rating in a report on Friday, July 29th. Finally, Wedbush reiterated an “outperform” rating and issued a $41.00 target price on shares of Blueprint Medicines Corp. in a report on Tuesday, August 9th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Blueprint Medicines Corp. currently has an average rating of “Buy” and an average target price of $30.00.
In related news, Director Daniel Lynch sold 21,800 shares of the firm’s stock in a transaction that occurred on Thursday, October 13th. The stock was sold at an average price of $30.02, for a total transaction of $654,436.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.93% of the company’s stock.
Several large investors have recently modified their holdings of the company. FMR LLC raised its stake in shares of Blueprint Medicines Corp. by 0.4% in the second quarter. FMR LLC now owns 4,085,600 shares of the company’s stock worth $82,733,000 after buying an additional 15,615 shares in the last quarter. BVF Inc. IL raised its stake in shares of Blueprint Medicines Corp. by 9.7% in the second quarter. BVF Inc. IL now owns 2,895,251 shares of the company’s stock worth $58,629,000 after buying an additional 255,000 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Blueprint Medicines Corp. by 4.6% in the third quarter. BlackRock Fund Advisors now owns 911,788 shares of the company’s stock worth $27,080,000 after buying an additional 39,995 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of Blueprint Medicines Corp. during the third quarter worth $24,217,000. Finally, Vanguard Group Inc. raised its stake in shares of Blueprint Medicines Corp. by 7.4% in the second quarter. Vanguard Group Inc. now owns 566,995 shares of the company’s stock worth $11,481,000 after buying an additional 39,253 shares during the period. 73.57% of the stock is owned by hedge funds and other institutional investors.
The firm’s 50 day moving average price is $29.68 and its 200 day moving average price is $23.57. The stock’s market capitalization is $946.68 million.
Blueprint Medicines Corp. Company Profile
Blueprint Medicines Corporation is a biopharmaceutical company. The Company focuses on patients with genomically defined diseases driven by abnormal kinase activation. The Company focuses on crafting drug candidates with therapeutic windows that provide clinical responses to patients without adequate treatment options.
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