Blueprint Medicines Co. (NASDAQ:BPMC) Short Interest Down 7.3% in September

Blueprint Medicines Co. (NASDAQ:BPMC) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 3,670,000 shares, a decrease of 7.3% from the August 31st total of 3,960,000 shares. Based on an average daily volume of 691,700 shares, the days-to-cover ratio is presently 5.3 days.

Analyst Ratings Changes

Several brokerages have issued reports on BPMC. Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price objective on shares of Blueprint Medicines in a research report on Thursday, August 1st. Morgan Stanley boosted their price objective on shares of Blueprint Medicines from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Friday, July 12th. JMP Securities reissued a “market outperform” rating and issued a $125.00 target price on shares of Blueprint Medicines in a research note on Friday, June 7th. Guggenheim upped their price target on Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Barclays boosted their price target on shares of Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $120.00.

Insider Activity at Blueprint Medicines

In other news, insider Debra Durso-Bumpus sold 3,850 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $111.20, for a total value of $428,120.00. Following the completion of the transaction, the insider now directly owns 43,763 shares of the company’s stock, valued at approximately $4,866,445.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Blueprint Medicines news, insider Philina Lee sold 41,913 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the sale, the insider now directly owns 34,729 shares of the company’s stock, valued at $3,236,395.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Debra Durso-Bumpus sold 3,850 shares of Blueprint Medicines stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $111.20, for a total transaction of $428,120.00. Following the completion of the transaction, the insider now owns 43,763 shares of the company’s stock, valued at approximately $4,866,445.60. The disclosure for this sale can be found here. Insiders sold a total of 54,580 shares of company stock worth $5,315,236 in the last 90 days. 4.21% of the stock is owned by company insiders.

Institutional Investors Weigh In On Blueprint Medicines

Institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in shares of Blueprint Medicines by 331.9% in the first quarter. Principal Financial Group Inc. now owns 62,670 shares of the biotechnology company’s stock valued at $5,945,000 after purchasing an additional 48,160 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Blueprint Medicines during the 1st quarter worth about $474,000. Vanguard Group Inc. boosted its stake in shares of Blueprint Medicines by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 6,114,970 shares of the biotechnology company’s stock worth $564,045,000 after buying an additional 147,827 shares during the last quarter. Comerica Bank grew its holdings in shares of Blueprint Medicines by 2,582.9% in the 1st quarter. Comerica Bank now owns 10,839 shares of the biotechnology company’s stock valued at $1,028,000 after acquiring an additional 10,435 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in shares of Blueprint Medicines by 27.8% in the second quarter. Federated Hermes Inc. now owns 62,354 shares of the biotechnology company’s stock valued at $6,721,000 after acquiring an additional 13,579 shares during the last quarter.

Blueprint Medicines Stock Down 1.4 %

Shares of BPMC stock traded down $1.28 during trading hours on Tuesday, hitting $91.22. 35,677 shares of the company were exchanged, compared to its average volume of 699,267. The company has a market capitalization of $5.71 billion, a PE ratio of -19.23 and a beta of 0.58. Blueprint Medicines has a 52 week low of $43.89 and a 52 week high of $121.90. The business has a 50 day moving average of $94.60 and a two-hundred day moving average of $99.09. The company has a current ratio of 3.71, a quick ratio of 3.65 and a debt-to-equity ratio of 1.06.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.29) by $0.49. The firm had revenue of $138.20 million for the quarter, compared to the consensus estimate of $104.02 million. Blueprint Medicines had a negative return on equity of 157.30% and a negative net margin of 56.64%. The company’s revenue for the quarter was up 139.9% on a year-over-year basis. During the same quarter last year, the business posted ($2.19) EPS. Analysts anticipate that Blueprint Medicines will post -3.99 earnings per share for the current fiscal year.

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.