Blueprint Medicines (NASDAQ:BPMC) Hits New 12-Month Low – Here’s Why

Blueprint Medicines Co. (NASDAQ:BPMC) shares hit a new 52-week low on Friday . The company traded as low as $80.08 and last traded at $81.68, with a volume of 1492586 shares changing hands. The stock had previously closed at $87.11.

Analyst Ratings Changes

Several brokerages have recently issued reports on BPMC. HC Wainwright reissued a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a research report on Friday, February 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $133.00 target price on shares of Blueprint Medicines in a research note on Thursday, February 13th. Scotiabank began coverage on Blueprint Medicines in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $150.00 price target on the stock. Stephens restated an “overweight” rating and issued a $140.00 price target on shares of Blueprint Medicines in a report on Thursday, January 2nd. Finally, JMP Securities reiterated a “market outperform” rating and set a $125.00 price objective on shares of Blueprint Medicines in a report on Friday, February 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have given 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 “Moderate Buy” and a consensus target price of $124.95.

Blueprint Medicines Price Performance

The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $5.22 billion, a PE ratio of -75.63 and a beta of 0.75. The business has a 50-day moving average of $95.52 and a 200 day moving average of $93.99.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.11). Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. As a group, research analysts anticipate that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $95.02, for a total value of $216,075.48. Following the completion of the transaction, the chief operating officer now owns 69,266 shares in the company, valued at $6,581,655.32. This trade represents a 3.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kate Haviland sold 1,446 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total transaction of $159,407.04. Following the completion of the sale, the chief executive officer now directly owns 149,378 shares in the company, valued at approximately $16,467,430.72. The trade was a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,608 shares of company stock worth $3,319,587. Company insiders own 4.21% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Blueprint Medicines by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 6,774,884 shares of the biotechnology company’s stock worth $590,905,000 after acquiring an additional 91,450 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Blueprint Medicines by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,679,089 shares of the biotechnology company’s stock worth $495,331,000 after buying an additional 291,822 shares in the last quarter. Wellington Management Group LLP grew its position in Blueprint Medicines by 8.0% during the fourth quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company’s stock valued at $373,421,000 after acquiring an additional 316,754 shares during the last quarter. State Street Corp grew its position in Blueprint Medicines by 16.2% during the third quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock valued at $255,827,000 after acquiring an additional 385,818 shares during the last quarter. Finally, William Blair Investment Management LLC raised its stake in shares of Blueprint Medicines by 16.1% during the fourth quarter. William Blair Investment Management LLC now owns 1,944,695 shares of the biotechnology company’s stock worth $169,616,000 after acquiring an additional 269,896 shares in the last quarter.

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.