Q1 2023 EPS Estimates for Blueprint Medicines Co. Decreased by Analyst (NASDAQ:BPMC)

Posted by on Apr 27th, 2023

Blueprint Medicines Co. (NASDAQ:BPMC – Get Rating) – Wedbush cut their Q1 2023 earnings estimates for Blueprint Medicines in a research report issued on Monday, April 24th. Wedbush analyst D. Nierengarten now forecasts that the biotechnology company will post earnings of ($2.43) per share for the quarter, down from their prior forecast of ($2.36). The consensus estimate for Blueprint Medicines’ current full-year earnings is ($10.05) per share. Wedbush also issued estimates for Blueprint Medicines’ Q2 2023 earnings at ($2.41) EPS, Q3 2023 earnings at ($2.29) EPS, FY2023 earnings at ($9.32) EPS, FY2024 earnings at ($6.97) EPS and FY2025 earnings at ($3.00) EPS.

Blueprint Medicines (NASDAQ:BPMC – Get Rating) last announced its earnings results on Thursday, February 16th. The biotechnology company reported ($2.65) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.73) by $0.08. Blueprint Medicines had a negative net margin of 273.24% and a negative return on equity of 80.09%. The business had revenue of $38.78 million for the quarter, compared to analyst estimates of $33.52 million. During the same quarter in the previous year, the firm posted ($0.99) earnings per share. Blueprint Medicines’s revenue was down 63.8% compared to the same quarter last year.

BPMC has been the topic of several other research reports. Barclays lowered their target price on shares of Blueprint Medicines from $50.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, January 23rd. Stifel Nicolaus upped their price target on shares of Blueprint Medicines from $80.00 to $84.00 in a research report on Tuesday, March 21st. Raymond James cut their target price on shares of Blueprint Medicines from $115.00 to $85.00 and set a “strong-buy” rating on the stock in a research report on Friday, February 17th. Morgan Stanley cut their target price on shares of Blueprint Medicines from $75.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Friday, January 27th. Finally, SVB Securities cut their price target on shares of Blueprint Medicines from $45.00 to $38.00 in a research report on Friday, February 24th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $72.68.

Blueprint Medicines Trading Up 0.3 %

Shares of Blueprint Medicines stock opened at $49.02 on Wednesday. The firm has a market capitalization of $2.94 billion, a PE ratio of -5.24 and a beta of 0.72. The company has a debt-to-equity ratio of 0.24, a current ratio of 5.71 and a quick ratio of 5.55. The company’s fifty day moving average price is $44.67 and its two-hundred day moving average price is $45.81. Blueprint Medicines has a 52-week low of $37.82 and a 52-week high of $79.40.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, insider Christopher K. Murray sold 1,875 shares of the stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $45.68, for a total transaction of $85,650.00. Following the transaction, the insider now directly owns 25,695 shares in the company, valued at approximately $1,173,747.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Jeffrey W. Albers sold 9,793 shares of Blueprint Medicines stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $45.67, for a total value of $447,246.31. Following the completion of the sale, the director now owns 173,450 shares of the company’s stock, valued at approximately $7,921,461.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Christopher K. Murray sold 1,875 shares of the firm’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $45.68, for a total value of $85,650.00. Following the completion of the transaction, the insider now owns 25,695 shares of the company’s stock, valued at approximately $1,173,747.60. The disclosure for this sale can be found here. Insiders have sold 27,696 shares of company stock worth $1,265,091 over the last ninety days. Insiders own 3.42% of the company’s stock.

Institutional Trading of Blueprint Medicines

Large investors have recently modified their holdings of the business. Peregrine Capital Management LLC increased its stake in Blueprint Medicines by 24.5% in the 1st quarter. Peregrine Capital Management LLC now owns 159,604 shares of the biotechnology company’s stock worth $7,181,000 after purchasing an additional 31,362 shares during the period. Linden Thomas Advisory Services LLC increased its stake in shares of Blueprint Medicines by 6.4% during the first quarter. Linden Thomas Advisory Services LLC now owns 16,919 shares of the biotechnology company’s stock valued at $761,000 after buying an additional 1,021 shares during the period. Mackenzie Financial Corp purchased a new position in shares of Blueprint Medicines during the first quarter valued at approximately $201,000. Mraz Amerine & Associates Inc. purchased a new position in shares of Blueprint Medicines during the first quarter valued at approximately $296,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of Blueprint Medicines during the first quarter valued at approximately $27,000.

Blueprint Medicines Company Profile

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Blueprint Medicines Corp. is a precision therapy company, which engages in the invention of medicines for people with cancer and blood disorders. The company was founded by Chris Varma, Nicholas B. Lydon, Brian Druker, and Alexis Borisy on October 14, 2008 and is headquartered in Cambridge, MA.

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Earnings History and Estimates for Blueprint Medicines (NASDAQ:BPMC)

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