Blueprint Medicines Co. (NASDAQ:BPMC) Short Interest Down 18.1% in January

Blueprint Medicines Co. (NASDAQ:BPMC) was the target of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 4,210,000 shares, a decrease of 18.1% from the January 15th total of 5,140,000 shares. Based on an average daily trading volume, of 764,600 shares, the days-to-cover ratio is presently 5.5 days.

Blueprint Medicines Stock Down 1.3 %

Shares of NASDAQ BPMC traded down $1.25 during mid-day trading on Friday, hitting $93.94. 1,260,678 shares of the stock traded hands, compared to its average volume of 950,529. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32. Blueprint Medicines has a 52 week low of $77.57 and a 52 week high of $121.90. The company has a market cap of $5.97 billion, a price-to-earnings ratio of -44.52 and a beta of 0.62. The stock has a fifty day moving average price of $99.61 and a 200-day moving average price of $94.66.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. Research analysts anticipate that Blueprint Medicines will post -3.63 EPS for the current year.

Analyst Ratings Changes

BPMC has been the subject of a number of research analyst reports. Stephens reiterated an “overweight” rating and set a $140.00 price target on shares of Blueprint Medicines in a research report on Thursday, January 2nd. StockNews.com cut Blueprint Medicines from a “hold” rating to a “sell” rating in a report on Friday. JPMorgan Chase & Co. raised their price objective on Blueprint Medicines from $126.00 to $129.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Guggenheim reaffirmed a “buy” rating on shares of Blueprint Medicines in a research note on Wednesday, December 11th. Finally, UBS Group began coverage on Blueprint Medicines in a research note on Thursday, October 24th. They issued a “neutral” rating and a $88.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $123.83.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, CEO Kate Haviland sold 2,353 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $96.60, for a total value of $227,299.80. Following the completion of the transaction, the chief executive officer now owns 150,824 shares in the company, valued at $14,569,598.40. This trade represents a 1.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Christina Rossi sold 2,274 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $110.14, for a total value of $250,458.36. Following the completion of the transaction, the chief operating officer now owns 67,109 shares of the company’s stock, valued at approximately $7,391,385.26. This represents a 3.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 49,851 shares of company stock valued at $4,984,696. 4.21% of the stock is owned by insiders.

Institutional Investors Weigh In On Blueprint Medicines

Several hedge funds have recently made changes to their positions in BPMC. Quarry LP bought a new stake in shares of Blueprint Medicines during the third quarter valued at approximately $32,000. R Squared Ltd bought a new stake in Blueprint Medicines in the fourth quarter worth $51,000. Covestor Ltd boosted its holdings in Blueprint Medicines by 206.7% in the third quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock worth $55,000 after acquiring an additional 403 shares in the last quarter. Headlands Technologies LLC bought a new stake in Blueprint Medicines in the fourth quarter worth $65,000. Finally, Thematics Asset Management bought a new stake in Blueprint Medicines in the fourth quarter worth $72,000.

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.