Blueprint Medicines (NASDAQ:BPMC) Stock Price Down 3.6% – Should You Sell?

Shares of Blueprint Medicines Co. (NASDAQ:BPMC) traded down 3.6% during mid-day trading on Thursday . The company traded as low as $87.55 and last traded at $88.50. 122,851 shares traded hands during trading, a decline of 82% from the average session volume of 683,709 shares. The stock had previously closed at $91.78.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BPMC shares. Guggenheim reaffirmed a “buy” rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. StockNews.com upgraded shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, November 8th. UBS Group initiated coverage on Blueprint Medicines in a research report on Thursday, October 24th. They set a “neutral” rating and a $88.00 target price for the company. Wells Fargo & Company lowered their price target on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. started coverage on shares of Blueprint Medicines in a report on Thursday, November 14th. They issued an “overweight” rating and a $126.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Blueprint Medicines currently has an average rating of “Moderate Buy” and a consensus target price of $122.11.

Blueprint Medicines Trading Up 1.4 %

The stock has a market cap of $5.73 billion, a PE ratio of -42.72 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32. The company’s 50-day moving average price is $92.45 and its 200 day moving average price is $97.23.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.08. The company had revenue of $128.20 million for the quarter, compared to analyst estimates of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The business’s revenue for the quarter was up 126.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($2.20) earnings per share. On average, sell-side analysts forecast that Blueprint Medicines Co. will post -3.68 EPS for the current fiscal year.

Insider Transactions at Blueprint Medicines

In other Blueprint Medicines news, CEO Kate Haviland sold 2,353 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $96.60, for a total transaction of $227,299.80. Following the transaction, the chief executive officer now directly owns 150,824 shares in the company, valued at approximately $14,569,598.40. This represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Fouad Namouni sold 3,633 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total value of $324,499.56. Following the completion of the transaction, the insider now directly owns 69,070 shares of the company’s stock, valued at $6,169,332.40. The trade was a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,353 shares of company stock worth $2,502,346. Insiders own 4.21% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Quarry LP acquired a new position in shares of Blueprint Medicines in the third quarter worth $32,000. Covestor Ltd increased its position in Blueprint Medicines by 206.7% during the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 403 shares in the last quarter. Van ECK Associates Corp raised its stake in Blueprint Medicines by 13.3% in the 2nd quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $120,000 after purchasing an additional 131 shares during the last quarter. Quantbot Technologies LP purchased a new position in Blueprint Medicines in the 3rd quarter valued at about $108,000. Finally, Values First Advisors Inc. purchased a new stake in shares of Blueprint Medicines during the third quarter worth about $122,000.

About Blueprint Medicines

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.