Blueprint Medicines (BPMC) Stock Price Down 2.8% After Earnings Miss

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Shares of Blueprint Medicines Corp (NASDAQ:BPMC) were down 2.8% during trading on Tuesday following a dissappointing earnings announcement. The company traded as low as $60.86 and last traded at $59.93. Approximately 9,935 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 367,979 shares. The stock had previously closed at $61.63.

The biotechnology company reported ($1.66) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.57) by ($0.09). Blueprint Medicines had a negative return on equity of 32.61% and a negative net margin of 326.99%. The firm had revenue of $1.10 million during the quarter, compared to the consensus estimate of $1.87 million. During the same quarter in the prior year, the business posted ($0.96) EPS. Blueprint Medicines’s revenue was down 86.4% compared to the same quarter last year.

A number of analysts have commented on BPMC shares. ValuEngine upgraded Blueprint Medicines from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 2nd. Wedbush reiterated an “outperform” rating and issued a $101.00 price objective on shares of Blueprint Medicines in a research report on Monday, October 8th. Leerink Swann started coverage on Blueprint Medicines in a research report on Tuesday, September 25th. They issued an “outperform” rating and a $105.00 price objective for the company. BidaskClub downgraded Blueprint Medicines from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. Finally, Cowen reiterated a “buy” rating on shares of Blueprint Medicines in a research report on Sunday, October 7th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Blueprint Medicines currently has a consensus rating of “Buy” and a consensus target price of $95.00.

In other news, CEO Jeffrey W. Albers sold 20,000 shares of the stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $70.59, for a total value of $1,411,800.00. Following the completion of the transaction, the chief executive officer now directly owns 20,000 shares of the company’s stock, valued at approximately $1,411,800. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Marion Dorsch sold 2,300 shares of the stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $70.47, for a total value of $162,081.00. Following the completion of the transaction, the insider now directly owns 2,300 shares of the company’s stock, valued at $162,081. The disclosure for this sale can be found here. Corporate insiders own 3.15% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Xact Kapitalforvaltning AB raised its holdings in shares of Blueprint Medicines by 15.0% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 6,151 shares of the biotechnology company’s stock worth $390,000 after buying an additional 800 shares in the last quarter. Vident Investment Advisory LLC raised its holdings in shares of Blueprint Medicines by 14.9% in the 2nd quarter. Vident Investment Advisory LLC now owns 7,077 shares of the biotechnology company’s stock worth $449,000 after buying an additional 916 shares in the last quarter. Swiss National Bank raised its holdings in shares of Blueprint Medicines by 1.9% in the 2nd quarter. Swiss National Bank now owns 68,500 shares of the biotechnology company’s stock worth $4,348,000 after buying an additional 1,300 shares in the last quarter. Public Employees Retirement Association of Colorado raised its holdings in shares of Blueprint Medicines by 56.7% in the 3rd quarter. Public Employees Retirement Association of Colorado now owns 4,718 shares of the biotechnology company’s stock worth $368,000 after buying an additional 1,708 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of Blueprint Medicines by 7.4% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 25,236 shares of the biotechnology company’s stock worth $1,602,000 after buying an additional 1,740 shares in the last quarter. 99.78% of the stock is owned by institutional investors and hedge funds.

The company has a quick ratio of 12.36, a current ratio of 12.36 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $2.87 billion, a PE ratio of -15.90 and a beta of 1.08.

Blueprint Medicines Company Profile (NASDAQ:BPMC)

Blueprint Medicines Corporation, a biopharmaceutical company, develops drugs of small molecule kinase inhibitors that target genomic drivers in various cancers and a rare genetic disease. Its lead drug candidates include avapritinib, which is in Phase I clinical trials that targets KIT Exon 17 mutant proteins and PDGFRa D842V mutations, that are drivers of cancer and proliferative disorders, including gastrointestinal stromal tumors and systemic mastocytosis; and BLU-554, which is in Phase I clinical trials an orally available, potent, and irreversible inhibitor of the kinase FGFR4 that is activated in a defined subset of patients with hepatocellular carcinoma.

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