Blueprint Medicines (NASDAQ:BPMC) Hits New 52-Week High at $98.18

Blueprint Medicines Corp (NASDAQ:BPMC) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $98.18 and last traded at $95.04, with a volume of 1922 shares trading hands. The stock had previously closed at $90.70.

Several research analysts have recently issued reports on the stock. BidaskClub raised shares of Blueprint Medicines from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 17th. ValuEngine raised shares of Blueprint Medicines from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 4th. Zacks Investment Research raised shares of Blueprint Medicines from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research note on Tuesday, April 30th. Cowen reissued a “buy” rating on shares of Blueprint Medicines in a research note on Thursday, March 28th. Finally, Goldman Sachs Group reissued a “buy” rating and set a $125.00 price objective on shares of Blueprint Medicines in a research note on Thursday, May 23rd. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $105.83.

The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of -18.63 and a beta of 1.44. The company has a current ratio of 6.59, a quick ratio of 6.59 and a debt-to-equity ratio of 0.27.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($1.98) earnings per share for the quarter, missing the consensus estimate of ($1.83) by ($0.15). Blueprint Medicines had a negative return on equity of 59.26% and a negative net margin of 603.88%. The firm had revenue of $0.73 million for the quarter, compared to the consensus estimate of $1.38 million. During the same period in the previous year, the business earned ($1.29) EPS. The firm’s revenue was down 23.2% compared to the same quarter last year. Equities analysts anticipate that Blueprint Medicines Corp will post -7.76 earnings per share for the current year.

In other Blueprint Medicines news, CEO Jeffrey W. Albers sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $84.75, for a total transaction of $1,695,000.00. Following the sale, the chief executive officer now directly owns 48,961 shares in the company, valued at approximately $4,149,444.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ariel Hurley sold 2,733 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $88.04, for a total transaction of $240,613.32. The disclosure for this sale can be found here. Insiders have sold a total of 47,733 shares of company stock worth $4,054,863 over the last 90 days. Corporate insiders own 3.15% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. First Republic Investment Management Inc. raised its holdings in shares of Blueprint Medicines by 53.3% in the first quarter. First Republic Investment Management Inc. now owns 6,092 shares of the biotechnology company’s stock valued at $488,000 after purchasing an additional 2,119 shares during the last quarter. TD Asset Management Inc. raised its holdings in shares of Blueprint Medicines by 2.4% in the fourth quarter. TD Asset Management Inc. now owns 63,025 shares of the biotechnology company’s stock valued at $3,398,000 after purchasing an additional 1,500 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Blueprint Medicines by 2.5% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 24,671 shares of the biotechnology company’s stock valued at $1,330,000 after purchasing an additional 595 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in shares of Blueprint Medicines by 354.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 13,476 shares of the biotechnology company’s stock valued at $726,000 after purchasing an additional 10,511 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Blueprint Medicines by 46.1% in the fourth quarter. Rhumbline Advisers now owns 55,349 shares of the biotechnology company’s stock valued at $2,984,000 after purchasing an additional 17,475 shares during the last quarter. Hedge funds and other institutional investors own 97.46% of the company’s stock.

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About Blueprint Medicines (NASDAQ:BPMC)

Blueprint Medicines Corporation 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 completed Phase I clinical trials that targets PDGFRA Exon 18 mutant GIST and KIT-driven GIST; 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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