Blueprint Medicines (NASDAQ:BPMC) Issues Earnings Results, Beats Expectations By $0.49 EPS

Blueprint Medicines (NASDAQ:BPMC) announced its quarterly earnings results on Thursday. The biotechnology company reported ($0.80) earnings per share for the quarter, beating the consensus estimate of ($1.29) by $0.49, Briefing.com reports. The business had revenue of $138.20 million during the quarter, compared to analysts’ expectations of $104.02 million. Blueprint Medicines had a negative net margin of 56.64% and a negative return on equity of 176.65%. The firm’s revenue for the quarter was up 139.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($2.19) EPS.

Blueprint Medicines Stock Down 3.6 %

Blueprint Medicines stock traded down $3.57 during mid-day trading on Friday, reaching $96.72. The stock had a trading volume of 1,779,789 shares, compared to its average volume of 758,420. Blueprint Medicines has a one year low of $43.89 and a one year high of $121.90. The company has a 50-day moving average price of $108.75 and a two-hundred day moving average price of $97.20. The company has a market capitalization of $6.06 billion, a price-to-earnings ratio of -20.11 and a beta of 0.63. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.76 and a quick ratio of 3.61.

Wall Street Analyst Weigh In

BPMC has been the topic of a number of research analyst reports. Wedbush restated an “outperform” rating and set a $110.00 price target on shares of Blueprint Medicines in a report on Friday, April 26th. Stifel Nicolaus boosted their target price on Blueprint Medicines from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, April 26th. HC Wainwright raised their price target on Blueprint Medicines from $125.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Needham & Company LLC reissued a “buy” rating and set a $130.00 price objective on shares of Blueprint Medicines in a research report on Thursday. Finally, Robert W. Baird upped their price objective on shares of Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $120.00.

Insider Buying and Selling at Blueprint Medicines

In related news, insider Debra Durso-Bumpus sold 74,034 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $104.19, for a total transaction of $7,713,602.46. Following the completion of the sale, the insider now owns 43,763 shares of the company’s stock, valued at $4,559,666.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider L. Becker Hewes sold 4,922 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $106.43, for a total value of $523,848.46. Following the transaction, the insider now directly owns 31,938 shares in the company, valued at approximately $3,399,161.34. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Debra Durso-Bumpus sold 74,034 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $104.19, for a total value of $7,713,602.46. Following the completion of the transaction, the insider now directly owns 43,763 shares in the company, valued at $4,559,666.97. The disclosure for this sale can be found here. In the last ninety days, insiders sold 130,064 shares of company stock worth $13,716,726. 4.21% of the stock is owned by corporate insiders.

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.