Brokerages Anticipate Blueprint Medicines Co. (NASDAQ:BPMC) Will Post Quarterly Sales of $39.94 Million

Equities research analysts expect Blueprint Medicines Co. (NASDAQ:BPMCGet Rating) to report sales of $39.94 million for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have made estimates for Blueprint Medicines’ earnings. The highest sales estimate is $53.00 million and the lowest is $30.90 million. Blueprint Medicines posted sales of $21.58 million in the same quarter last year, which suggests a positive year over year growth rate of 85.1%. The firm is expected to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Blueprint Medicines will report full-year sales of $192.61 million for the current year, with estimates ranging from $173.20 million to $212.26 million. For the next financial year, analysts expect that the business will report sales of $354.77 million, with estimates ranging from $253.00 million to $546.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Blueprint Medicines.

Blueprint Medicines (NASDAQ:BPMCGet Rating) last issued its earnings results on Wednesday, February 16th. The biotechnology company reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.28). Blueprint Medicines had a negative return on equity of 31.04% and a negative net margin of 357.66%. The company had revenue of $107.00 million during the quarter, compared to the consensus estimate of $104.14 million. During the same quarter in the prior year, the business earned ($1.53) EPS. The firm’s revenue for the quarter was up 213.8% compared to the same quarter last year.

Several brokerages have commented on BPMC. Zacks Investment Research upgraded Blueprint Medicines from a “sell” rating to a “hold” rating and set a $68.00 target price for the company in a research note on Monday, March 28th. Wedbush restated an “outperform” rating and issued a $126.00 target price on shares of Blueprint Medicines in a research note on Monday, February 28th. SVB Leerink lowered their price target on Blueprint Medicines from $93.00 to $82.00 and set a “market perform” rating on the stock in a report on Thursday, February 17th. HC Wainwright lowered their price target on Blueprint Medicines from $135.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, February 17th. Finally, Stifel Nicolaus raised their price target on Blueprint Medicines from $100.00 to $105.00 and gave the company a “buy” rating in a report on Friday, March 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $106.45.

Shares of NASDAQ BPMC opened at $65.10 on Tuesday. Blueprint Medicines has a 52 week low of $53.26 and a 52 week high of $117.86. The business has a 50-day moving average of $64.50. The company has a market cap of $3.85 billion, a P/E ratio of -5.79 and a beta of 0.95.

In related news, CEO Jeffrey W. Albers sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, April 6th. The stock was sold at an average price of $70.11, for a total transaction of $350,550.00. Following the transaction, the chief executive officer now directly owns 183,243 shares of the company’s stock, valued at approximately $12,847,166.73. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ariel Hurley sold 2,339 shares of the firm’s stock in a transaction that occurred on Thursday, March 10th. The stock was sold at an average price of $57.15, for a total value of $133,673.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,575 shares of company stock worth $677,614. 3.34% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in shares of Blueprint Medicines by 2.7% during the fourth quarter. BlackRock Inc. now owns 5,336,874 shares of the biotechnology company’s stock valued at $571,632,000 after purchasing an additional 138,860 shares in the last quarter. Wellington Management Group LLP raised its stake in Blueprint Medicines by 58.7% during the third quarter. Wellington Management Group LLP now owns 3,199,041 shares of the biotechnology company’s stock valued at $328,893,000 after buying an additional 1,182,979 shares during the last quarter. William Blair Investment Management LLC raised its stake in Blueprint Medicines by 1.8% during the fourth quarter. William Blair Investment Management LLC now owns 1,747,721 shares of the biotechnology company’s stock valued at $187,198,000 after buying an additional 30,557 shares during the last quarter. State Street Corp raised its stake in Blueprint Medicines by 2.6% during the fourth quarter. State Street Corp now owns 1,731,470 shares of the biotechnology company’s stock valued at $185,458,000 after buying an additional 43,086 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Blueprint Medicines by 8.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,644,161 shares of the biotechnology company’s stock valued at $176,106,000 after buying an additional 126,350 shares during the last quarter.

Blueprint Medicines Company Profile (Get Rating)

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 non-advanced SM and other mast cell disorders; and Fisogatinib, an orally available and potent inhibitor for the treatment of hepatocellular carcinoma.

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