Blueprint Medicines Co. (NASDAQ:BPMC) Short Interest Up 12.6% in December

Blueprint Medicines Co. (NASDAQ:BPMC) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 5,100,000 shares, a growth of 12.6% from the December 15th total of 4,530,000 shares. Based on an average daily volume of 643,900 shares, the short-interest ratio is presently 7.9 days.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JMP Securities reissued a “market outperform” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a research note on Wednesday, January 15th. UBS Group assumed coverage on shares of Blueprint Medicines in a research note on Thursday, October 24th. They issued a “neutral” rating and a $88.00 price objective for the company. JPMorgan Chase & Co. assumed coverage on shares of Blueprint Medicines in a research note on Thursday, November 14th. They issued an “overweight” rating and a $126.00 price objective for the company. StockNews.com raised shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Wedbush reissued an “outperform” rating and issued a $124.00 price objective (down previously from $135.00) on shares of Blueprint Medicines in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $122.72.

Insider Buying and Selling at Blueprint Medicines

In other news, insider Ariel Hurley sold 2,250 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $100.00, for a total transaction of $225,000.00. Following the completion of the sale, the insider now owns 14,967 shares of the company’s stock, valued at approximately $1,496,700. This represents a 13.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey W. Albers sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $89.77, for a total transaction of $1,346,550.00. Following the sale, the director now directly owns 157,557 shares of the company’s stock, valued at approximately $14,143,891.89. This trade represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,970 shares of company stock valued at $2,914,246 in the last quarter. Company insiders own 4.21% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BPMC. Massachusetts Financial Services Co. MA bought a new position in shares of Blueprint Medicines in the second quarter valued at $18,273,000. Renaissance Technologies LLC lifted its stake in shares of Blueprint Medicines by 132.4% in the second quarter. Renaissance Technologies LLC now owns 110,400 shares of the biotechnology company’s stock valued at $11,899,000 after buying an additional 62,900 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of Blueprint Medicines in the second quarter valued at $1,113,000. Amalgamated Bank lifted its stake in shares of Blueprint Medicines by 5.3% in the second quarter. Amalgamated Bank now owns 2,154 shares of the biotechnology company’s stock valued at $232,000 after buying an additional 109 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of Blueprint Medicines by 12.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,276 shares of the biotechnology company’s stock valued at $461,000 after buying an additional 485 shares in the last quarter.

Blueprint Medicines Stock Up 5.9 %

Shares of NASDAQ BPMC opened at $110.05 on Monday. The firm has a market cap of $6.99 billion, a PE ratio of -52.16 and a beta of 0.61. Blueprint Medicines has a 12-month low of $72.24 and a 12-month high of $121.90. The company’s fifty day simple moving average is $94.09 and its 200 day simple moving average is $95.22. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.08. The business 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%. Blueprint Medicines’s revenue was up 126.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($2.20) earnings per share. As a group, sell-side analysts forecast that Blueprint Medicines will post -3.68 earnings per share for the current fiscal year.

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.