Blueprint Medicines (NASDAQ:BPMC) Shares Gap Up – Should You Buy?

Blueprint Medicines Co. (NASDAQ:BPMC) shares gapped up prior to trading on Monday . The stock had previously closed at $87.43, but opened at $90.29. Blueprint Medicines shares last traded at $93.42, with a volume of 94,236 shares changing hands.

Analysts Set New Price Targets

Several research analysts have weighed in on BPMC shares. Wells Fargo & Company lowered their price objective on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research note on Monday. JPMorgan Chase & Co. assumed coverage on shares of Blueprint Medicines in a research report on Thursday, November 14th. They set an “overweight” rating and a $126.00 target price on the stock. Stephens reiterated an “overweight” rating and issued a $140.00 price target on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Finally, JMP Securities reiterated a “market outperform” rating and set a $125.00 target price on shares of Blueprint Medicines in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Blueprint Medicines has an average rating of “Moderate Buy” and a consensus target price of $122.72.

Blueprint Medicines Trading Up 10.4 %

The business has a fifty day simple moving average of $93.42 and a 200-day simple moving average of $95.36. The firm has a market cap of $6.13 billion, a price-to-earnings ratio of -45.75 and a beta of 0.61. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.08. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The business had revenue of $128.20 million during the quarter, compared to analyst estimates of $127.56 million. During the same quarter last year, the business earned ($2.20) EPS. The firm’s quarterly revenue was up 126.5% on a year-over-year basis. As a group, equities analysts forecast that Blueprint Medicines Co. will post -3.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

In other news, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $95.91, for a total value of $218,099.34. Following the completion of the sale, the chief operating officer now owns 69,383 shares in the company, valued at $6,654,523.53. The trade was a 3.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kate Haviland sold 2,353 shares of Blueprint Medicines stock in a transaction on Friday, November 29th. The shares were sold at an average price of $96.60, for a total transaction of $227,299.80. Following the completion of the sale, the chief executive officer now directly owns 150,824 shares of the company’s stock, valued at approximately $14,569,598.40. The trade was a 1.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,720 shares of company stock worth $2,177,846. Insiders own 4.21% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Quarry LP acquired a new stake in shares of Blueprint Medicines in the 3rd quarter worth about $32,000. Covestor Ltd increased its holdings in Blueprint Medicines by 206.7% during the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 403 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Blueprint Medicines in the third quarter worth approximately $108,000. Values First Advisors Inc. purchased a new stake in shares of Blueprint Medicines in the third quarter worth approximately $122,000. Finally, CWM LLC lifted its holdings in shares of Blueprint Medicines by 69.2% in the third quarter. CWM LLC now owns 1,870 shares of the biotechnology company’s stock valued at $173,000 after purchasing an additional 765 shares in the last quarter.

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.