Blueprint Medicines (NASDAQ:BPMC) Posts Earnings Results, Misses Estimates By $0.11 EPS

Blueprint Medicines (NASDAQ:BPMC) posted its quarterly earnings results on Thursday. The biotechnology company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.11), Zacks reports. Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%.

Blueprint Medicines Stock Performance

Shares of BPMC stock traded up $1.88 during midday trading on Thursday, hitting $95.95. 222,326 shares of the company were exchanged, compared to its average volume of 1,015,968. The firm has a market capitalization of $6.13 billion, a P/E ratio of -88.93 and a beta of 0.62. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85. The firm’s 50 day moving average price is $99.53 and its two-hundred day moving average price is $94.40. Blueprint Medicines has a 52 week low of $80.42 and a 52 week high of $121.90.

Insider Buying and Selling

In related news, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $95.10, for a total transaction of $216,257.40. Following the completion of the sale, the chief operating officer now owns 71,657 shares of the company’s stock, valued at approximately $6,814,580.70. The trade was a 3.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Kate Haviland sold 2,353 shares of Blueprint Medicines stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $96.60, for a total transaction of $227,299.80. Following the sale, the chief executive officer now directly owns 150,824 shares of the company’s stock, valued at $14,569,598.40. The trade was a 1.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,851 shares of company stock valued at $4,984,696. Company insiders own 4.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BPMC. Needham & Company LLC reissued a “buy” rating and issued a $133.00 price target on shares of Blueprint Medicines in a research note on Thursday, February 13th. 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. JPMorgan Chase & Co. increased their price target on Blueprint Medicines from $126.00 to $129.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Wedbush reissued an “outperform” rating and issued a $128.00 price target (up previously from $124.00) on shares of Blueprint Medicines in a research note on Thursday, February 13th. Finally, Piper Sandler raised their price objective on Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $123.83.

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.