Blueprint Medicines Co. (NASDAQ:BPMC – Get Rating) – Stock analysts at HC Wainwright raised their Q2 2023 earnings estimates for shares of Blueprint Medicines in a research report issued to clients and investors on Tuesday, May 23rd. HC Wainwright analyst A. Fein now forecasts that the biotechnology company will post earnings of ($2.31) per share for the quarter, up from their prior estimate of ($2.33). The consensus estimate for Blueprint Medicines’ current full-year earnings is ($9.59) per share. HC Wainwright also issued estimates for Blueprint Medicines’ Q3 2023 earnings at ($2.23) EPS, Q4 2023 earnings at ($2.13) EPS, FY2023 earnings at ($8.80) EPS, FY2024 earnings at ($5.06) EPS, FY2025 earnings at ($3.17) EPS, FY2026 earnings at ($1.28) EPS and FY2027 earnings at $1.25 EPS.
A number of other brokerages also recently issued reports on BPMC. JMP Securities reissued a “market outperform” rating and set a $114.00 price objective on shares of Blueprint Medicines in a research report on Thursday, March 30th. SVB Securities lowered their target price on shares of Blueprint Medicines from $45.00 to $38.00 in a research note on Friday, February 24th. Stifel Nicolaus lifted their target price on shares of Blueprint Medicines from $80.00 to $84.00 in a research note on Tuesday, March 21st. Guggenheim lifted their target price on shares of Blueprint Medicines from $78.00 to $82.00 in a research note on Tuesday. Finally, VNET Group restated a “maintains” rating on shares of Blueprint Medicines in a research note on Friday, May 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.84.
Blueprint Medicines Trading Down 0.9 %
Blueprint Medicines (NASDAQ:BPMC – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The biotechnology company reported ($2.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.66) by $0.51. Blueprint Medicines had a negative net margin of 284.02% and a negative return on equity of 100.31%. The firm had revenue of $63.29 million during the quarter, compared to the consensus estimate of $41.85 million. During the same quarter in the previous year, the firm posted ($1.79) EPS. The company’s revenue for the quarter was up .9% compared to the same quarter last year.
Hedge Funds Weigh In On Blueprint Medicines
A number of hedge funds have recently added to or reduced their stakes in BPMC. Price T Rowe Associates Inc. MD grew its stake in Blueprint Medicines by 15.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,948,434 shares of the biotechnology company’s stock worth $222,631,000 after acquiring an additional 649,144 shares in the last quarter. Norges Bank bought a new position in Blueprint Medicines in the 4th quarter worth about $27,778,000. State Street Corp grew its stake in Blueprint Medicines by 30.9% in the 1st quarter. State Street Corp now owns 2,266,894 shares of the biotechnology company’s stock worth $144,809,000 after acquiring an additional 535,424 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Blueprint Medicines in the 4th quarter worth approximately $23,195,000. Finally, BlackRock Inc. lifted its position in shares of Blueprint Medicines by 9.0% in the 3rd quarter. BlackRock Inc. now owns 5,756,501 shares of the biotechnology company’s stock worth $379,297,000 after purchasing an additional 476,743 shares during the period.
Insider Activity at Blueprint Medicines
In related news, COO Christina Rossi sold 3,059 shares of the company’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $45.67, for a total transaction of $139,704.53. Following the transaction, the chief operating officer now directly owns 55,376 shares in the company, valued at approximately $2,529,021.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Blueprint Medicines news, Director Jeffrey W. Albers sold 9,793 shares of the company’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $45.67, for a total value of $447,246.31. Following the transaction, the director now directly owns 173,450 shares in the company, valued at approximately $7,921,461.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Christina Rossi sold 3,059 shares of the company’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $45.67, for a total transaction of $139,704.53. Following the completion of the transaction, the chief operating officer now owns 55,376 shares in the company, valued at $2,529,021.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,696 shares of company stock worth $1,265,091. Insiders own 3.42% of the company’s stock.
About Blueprint Medicines
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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