Blueprint Medicines (NASDAQ:BPMC) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Blueprint Medicines (NASDAQ:BPMCGet Rating) released its quarterly earnings results on Tuesday. The biotechnology company reported ($1.79) EPS for the quarter, topping the consensus estimate of ($1.80) by $0.01, MarketWatch Earnings reports. Blueprint Medicines had a negative return on equity of 31.04% and a negative net margin of 357.66%. The business had revenue of $62.70 million during the quarter, compared to analyst estimates of $39.98 million. During the same period last year, the business posted ($1.72) earnings per share. The company’s quarterly revenue was up 190.3% on a year-over-year basis.

BPMC stock traded up $1.85 during trading on Tuesday, hitting $61.57. The company had a trading volume of 3,566 shares, compared to its average volume of 551,429. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of -5.87 and a beta of 0.96. Blueprint Medicines has a 1-year low of $53.26 and a 1-year high of $117.86. The company has a 50-day simple moving average of $63.26.

In related news, Director Mark Alan Goldberg purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 3rd. The shares were purchased at an average price of $59.98 per share, for a total transaction of $299,900.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ariel Hurley sold 761 shares of Blueprint Medicines stock in a transaction that occurred on Thursday, March 3rd. The shares were sold at an average price of $60.27, for a total value of $45,865.47. The disclosure for this sale can be found here. Insiders sold a total of 10,575 shares of company stock worth $677,614 in the last 90 days. 3.34% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in Blueprint Medicines by 2.7% in the 4th 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. Morgan Stanley boosted its holdings in Blueprint Medicines by 763.6% in the 2nd quarter. Morgan Stanley now owns 535,446 shares of the biotechnology company’s stock valued at $47,098,000 after purchasing an additional 473,445 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Blueprint Medicines by 2.5% during the 4th quarter. California State Teachers Retirement System now owns 78,978 shares of the biotechnology company’s stock worth $8,459,000 after acquiring an additional 1,953 shares in the last quarter. Barclays PLC boosted its stake in shares of Blueprint Medicines by 64.6% during the 4th quarter. Barclays PLC now owns 72,560 shares of the biotechnology company’s stock worth $7,772,000 after acquiring an additional 28,481 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of Blueprint Medicines by 14.2% during the 4th quarter. Parametric Portfolio Associates LLC now owns 70,229 shares of the biotechnology company’s stock worth $7,522,000 after acquiring an additional 8,720 shares in the last quarter. 99.69% of the stock is currently owned by institutional investors.

BPMC has been the subject of several research analyst reports. HC Wainwright lowered their price target on Blueprint Medicines from $135.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, February 17th. SVB Leerink decreased their target price on Blueprint Medicines from $93.00 to $82.00 and set a “market perform” rating for the company in a report on Thursday, February 17th. Citigroup decreased their target price on Blueprint Medicines from $71.00 to $68.00 and set a “neutral” rating for the company in a report on Wednesday, April 13th. Stifel Nicolaus lifted their target price on Blueprint Medicines from $100.00 to $105.00 and gave the company a “buy” rating in a report on Friday, March 4th. Finally, Zacks Investment Research upgraded Blueprint Medicines from a “sell” rating to a “hold” rating and set a $68.00 price target on the stock in a research note on Monday, March 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $106.45.

About Blueprint Medicines (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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Earnings History for Blueprint Medicines (NASDAQ:BPMC)

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