Leerink Partnrs Brokers Cut Earnings Estimates for Blueprint Medicines Co. (NASDAQ:BPMC)

Blueprint Medicines Co. (NASDAQ:BPMC) – Leerink Partnrs dropped their Q2 2024 earnings estimates for Blueprint Medicines in a report released on Wednesday, July 24th. Leerink Partnrs analyst A. Berens now expects that the biotechnology company will earn ($1.18) per share for the quarter, down from their previous estimate of ($1.10). Leerink Partnrs currently has a “Market Perform” rating on the stock. The consensus estimate for Blueprint Medicines’ current full-year earnings is ($4.67) per share. Leerink Partnrs also issued estimates for Blueprint Medicines’ Q3 2024 earnings at ($0.95) EPS, Q4 2024 earnings at ($0.63) EPS, FY2024 earnings at ($4.04) EPS and FY2026 earnings at $3.50 EPS.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Thursday, May 2nd. The biotechnology company reported ($1.32) EPS for the quarter, beating analysts’ consensus estimates of ($1.64) by $0.32. Blueprint Medicines had a negative return on equity of 193.48% and a negative net margin of 102.15%. The company had revenue of $96.12 million during the quarter, compared to the consensus estimate of $82.58 million.

BPMC has been the topic of several other research reports. Oppenheimer boosted their price target on shares of Blueprint Medicines from $114.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. JMP Securities reiterated a “market outperform” rating and set a $125.00 target price on shares of Blueprint Medicines in a report on Friday, June 7th. Barclays raised their target price on Blueprint Medicines from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. StockNews.com upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Finally, Wedbush reiterated an “outperform” rating and issued a $110.00 price objective on shares of Blueprint Medicines in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $116.33.

Blueprint Medicines Stock Down 1.3 %

Shares of NASDAQ BPMC opened at $112.19 on Friday. The firm has a fifty day simple moving average of $108.61 and a two-hundred day simple moving average of $96.42. Blueprint Medicines has a 12 month low of $43.89 and a 12 month high of $121.90. The company has a current ratio of 3.76, a quick ratio of 3.61 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $7.03 billion, a PE ratio of -23.32 and a beta of 0.63.

Institutional Investors Weigh In On Blueprint Medicines

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Blueprint Medicines by 3.2% in the first quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company’s stock worth $598,564,000 after acquiring an additional 195,007 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Blueprint Medicines by 15.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,250,823 shares of the biotechnology company’s stock valued at $592,954,000 after purchasing an additional 821,868 shares during the period. Brown Advisory Inc. increased its position in shares of Blueprint Medicines by 6.1% during the 4th quarter. Brown Advisory Inc. now owns 679,920 shares of the biotechnology company’s stock valued at $62,716,000 after purchasing an additional 38,881 shares during the last quarter. Norges Bank purchased a new stake in shares of Blueprint Medicines during the 4th quarter valued at about $55,893,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Blueprint Medicines by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 476,063 shares of the biotechnology company’s stock worth $43,912,000 after purchasing an additional 7,646 shares during the period.

Insiders Place Their Bets

In related news, insider Ariel Hurley sold 1,834 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $103.88, for a total value of $190,515.92. Following the transaction, the insider now directly owns 14,913 shares of the company’s stock, valued at approximately $1,549,162.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Blueprint Medicines news, CFO Michael Landsittel sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $105.00, for a total transaction of $1,050,000.00. Following the transaction, the chief financial officer now owns 47,286 shares in the company, valued at approximately $4,965,030. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ariel Hurley sold 1,834 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $103.88, for a total transaction of $190,515.92. Following the transaction, the insider now directly owns 14,913 shares of the company’s stock, valued at $1,549,162.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 141,898 shares of company stock valued at $14,957,242. Insiders own 4.21% of the company’s stock.

Blueprint Medicines Company Profile

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.