Q2 2024 Earnings Forecast for Blueprint Medicines Co. (NASDAQ:BPMC) Issued By Leerink Partnrs

Blueprint Medicines Co. (NASDAQ:BPMC) – Stock analysts at Leerink Partnrs issued their Q2 2024 earnings per share estimates for shares of Blueprint Medicines in a research report issued to clients and investors on Monday, May 6th. Leerink Partnrs analyst A. Berens forecasts that the biotechnology company will post earnings of ($1.10) per share for the quarter. Leerink Partnrs has a “Market Perform” rating on the stock. The consensus estimate for Blueprint Medicines’ current full-year earnings is ($5.38) per share. Leerink Partnrs also issued estimates for Blueprint Medicines’ Q3 2024 earnings at ($0.87) EPS, Q4 2024 earnings at ($0.57) EPS, FY2024 earnings at ($3.82) EPS, FY2025 earnings at $1.71 EPS and FY2026 earnings at $4.42 EPS.

Several other brokerages have also recently commented on BPMC. Barclays boosted their price target on shares of Blueprint Medicines from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Stifel Nicolaus increased their target price on shares of Blueprint Medicines from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, April 26th. StockNews.com raised Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Citigroup increased their target price on Blueprint Medicines from $65.00 to $76.00 and gave the company a “sell” rating in a report on Friday, May 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $97.00 target price on shares of Blueprint Medicines in a research report on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Blueprint Medicines has a consensus rating of “Hold” and an average target price of $100.31.

Blueprint Medicines Stock Up 0.2 %

Shares of BPMC stock opened at $108.78 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.61 and a current ratio of 3.76. The stock has a market cap of $6.66 billion, a PE ratio of -22.62 and a beta of 0.65. The business’s fifty day moving average is $92.44 and its 200-day moving average is $82.00. Blueprint Medicines has a 1 year low of $43.89 and a 1 year high of $110.93.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) EPS for the quarter, beating the consensus estimate of ($2.04) by $0.22. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 193.48%. The firm had revenue of $71.96 million for the quarter, compared to analysts’ expectations of $67.34 million. During the same quarter last year, the company earned ($2.65) EPS. Blueprint Medicines’s quarterly revenue was up 85.5% on a year-over-year basis.

Insider Activity

In other news, Director Jeffrey W. Albers sold 25,073 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $87.28, for a total transaction of $2,188,371.44. Following the sale, the director now directly owns 176,050 shares in the company, valued at $15,365,644. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Jeffrey W. Albers sold 25,073 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $87.28, for a total value of $2,188,371.44. Following the sale, the director now directly owns 176,050 shares in the company, valued at approximately $15,365,644. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christopher K. Murray sold 621 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $93.65, for a total value of $58,156.65. Following the transaction, the insider now owns 36,374 shares of the company’s stock, valued at $3,406,425.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 104,123 shares of company stock valued at $9,554,679. 3.88% of the stock is owned by company insiders.

Hedge Funds Weigh In On Blueprint Medicines

Several hedge funds have recently added to or reduced their stakes in BPMC. Readystate Asset Management LP acquired a new position in Blueprint Medicines during the fourth quarter valued at approximately $3,692,000. American Century Companies Inc. increased its position in shares of Blueprint Medicines by 5.2% in the 3rd quarter. American Century Companies Inc. now owns 670,972 shares of the biotechnology company’s stock valued at $33,696,000 after buying an additional 33,243 shares in the last quarter. Diversified Trust Co raised its stake in Blueprint Medicines by 2.9% during the 3rd quarter. Diversified Trust Co now owns 11,219 shares of the biotechnology company’s stock worth $563,000 after buying an additional 318 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in Blueprint Medicines by 95.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,550 shares of the biotechnology company’s stock worth $78,000 after acquiring an additional 757 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its stake in Blueprint Medicines by 17.4% in the third quarter. Rafferty Asset Management LLC now owns 166,690 shares of the biotechnology company’s stock valued at $8,371,000 after acquiring an additional 24,693 shares during the period.

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.