Blueprint Medicines Co. (NASDAQ:BPMC) Short Interest Down 18.1% in January

Blueprint Medicines Co. (NASDAQ:BPMC) saw a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 4,210,000 shares, a decline of 18.1% from the January 15th total of 5,140,000 shares. Based on an average daily volume of 764,600 shares, the short-interest ratio is presently 5.5 days.

Blueprint Medicines Stock Performance

Shares of BPMC stock traded down $1.25 during mid-day trading on Monday, reaching $93.94. 1,260,678 shares of the company’s stock traded hands, compared to its average volume of 950,529. Blueprint Medicines has a 12 month low of $77.57 and a 12 month high of $121.90. The firm has a 50 day moving average price of $99.61 and a two-hundred day moving average price of $94.48. The firm has a market capitalization of $5.97 billion, a PE ratio of -44.52 and a beta of 0.62. 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 released its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. On average, research analysts forecast that Blueprint Medicines will post -3.63 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Guggenheim reiterated a “buy” rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. Piper Sandler increased their price target on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. StockNews.com cut shares of Blueprint Medicines from a “hold” rating to a “sell” rating in a research note on Friday. Wedbush reissued an “outperform” rating and issued a $128.00 price target (up from $124.00) on shares of Blueprint Medicines in a research note on Thursday. Finally, JMP Securities restated a “market outperform” rating and set a $125.00 target price on shares of Blueprint Medicines in a report on Friday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Blueprint Medicines has an average rating of “Moderate Buy” and a consensus price target of $123.83.

Insider Transactions at Blueprint Medicines

In related news, COO Christina Rossi sold 2,274 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $110.14, for a total transaction of $250,458.36. Following the sale, the chief operating officer now owns 67,109 shares of the company’s stock, valued at approximately $7,391,385.26. This represents a 3.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey W. Albers sold 15,161 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $109.53, for a total value of $1,660,584.33. Following the completion of the transaction, the director now owns 152,396 shares of the company’s stock, valued at approximately $16,691,933.88. This represents a 9.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,851 shares of company stock worth $4,984,696 in the last ninety days. Company insiders own 4.21% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

A number of institutional investors have recently bought and sold shares of the business. Quarry LP bought a new position in shares of Blueprint Medicines in the third quarter worth about $32,000. R Squared Ltd bought a new position in Blueprint Medicines in the 4th quarter worth approximately $51,000. Covestor Ltd grew its holdings in Blueprint Medicines by 206.7% during the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock valued at $55,000 after buying an additional 403 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Blueprint Medicines during the fourth quarter valued at approximately $65,000. Finally, Thematics Asset Management purchased a new position in shares of Blueprint Medicines in the fourth quarter worth $72,000.

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.