Short Interest in Blueprint Medicines Co. (NASDAQ:BPMC) Declines By 15.1%

Blueprint Medicines Co. (NASDAQ:BPMC) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 4,370,000 shares, a decline of 15.1% from the March 15th total of 5,150,000 shares. Based on an average daily volume of 786,700 shares, the short-interest ratio is currently 5.6 days.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BPMC shares. Wedbush reissued an “outperform” rating and issued a $97.00 price target on shares of Blueprint Medicines in a report on Monday, February 5th. Citigroup boosted their price target on shares of Blueprint Medicines from $54.00 to $65.00 and gave the company a “sell” rating in a report on Friday, February 16th. Barclays upped their target price on shares of Blueprint Medicines from $58.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $114.00 target price on shares of Blueprint Medicines in a research note on Wednesday, April 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $97.00 target price on shares of Blueprint Medicines in a research note on Monday, February 26th. Four research analysts have rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $85.43.

Insider Buying and Selling

In other Blueprint Medicines news, insider Christopher K. Murray sold 5,000 shares of Blueprint Medicines stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $100.00, for a total transaction of $500,000.00. Following the completion of the sale, the insider now owns 24,495 shares of the company’s stock, valued at approximately $2,449,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Blueprint Medicines news, insider Christopher K. Murray sold 5,000 shares of Blueprint Medicines stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $100.00, for a total transaction of $500,000.00. Following the completion of the sale, the insider now owns 24,495 shares of the company’s stock, valued at approximately $2,449,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kate Haviland sold 12,464 shares of Blueprint Medicines stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $90.69, for a total transaction of $1,130,360.16. Following the sale, the chief executive officer now directly owns 153,177 shares of the company’s stock, valued at approximately $13,891,622.13. The disclosure for this sale can be found here. Insiders sold 117,289 shares of company stock worth $10,361,913 in the last quarter. Insiders own 3.88% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

Institutional investors and hedge funds have recently modified their holdings of the company. Raymond James & Associates grew its stake in Blueprint Medicines by 18.6% in the 1st quarter. Raymond James & Associates now owns 31,565 shares of the biotechnology company’s stock valued at $2,016,000 after buying an additional 4,945 shares during the last quarter. US Bancorp DE grew its stake in Blueprint Medicines by 11.4% in the 1st quarter. US Bancorp DE now owns 7,234 shares of the biotechnology company’s stock valued at $463,000 after buying an additional 743 shares during the last quarter. MetLife Investment Management LLC grew its stake in Blueprint Medicines by 53.9% in the 1st quarter. MetLife Investment Management LLC now owns 31,782 shares of the biotechnology company’s stock valued at $2,030,000 after buying an additional 11,131 shares during the last quarter. Rhumbline Advisers grew its stake in Blueprint Medicines by 1.5% in the 1st quarter. Rhumbline Advisers now owns 63,434 shares of the biotechnology company’s stock valued at $4,052,000 after buying an additional 924 shares during the last quarter. Finally, BlackRock Inc. grew its stake in Blueprint Medicines by 0.9% in the 1st quarter. BlackRock Inc. now owns 5,383,138 shares of the biotechnology company’s stock valued at $343,876,000 after buying an additional 46,264 shares during the last quarter.

Blueprint Medicines Stock Performance

Shares of BPMC stock traded up $0.91 on Tuesday, reaching $86.09. The stock had a trading volume of 410,706 shares, compared to its average volume of 766,467. The company has a quick ratio of 3.66, a current ratio of 3.76 and a debt-to-equity ratio of 1.60. The firm’s 50-day moving average is $88.76 and its two-hundred day moving average is $76.63. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of -10.50 and a beta of 0.63. Blueprint Medicines has a 12 month low of $43.89 and a 12 month high of $101.00.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.04) by $0.22. The company had revenue of $71.96 million for the quarter, compared to analysts’ expectations of $67.34 million. Blueprint Medicines had a negative net margin of 203.30% and a negative return on equity of 191.56%. Blueprint Medicines’s quarterly revenue was up 85.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($2.65) EPS. On average, research analysts expect that Blueprint Medicines will post -5.42 EPS for the current fiscal year.

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.