Blueprint Medicines Co. (NASDAQ:BPMC – Free Report) – Investment analysts at Zacks Research increased their Q1 2024 earnings estimates for shares of Blueprint Medicines in a report released on Tuesday, September 19th. Zacks Research analyst A. Chakraborty now expects that the biotechnology company will earn ($2.31) per share for the quarter, up from their prior forecast of ($2.32). The consensus estimate for Blueprint Medicines’ current full-year earnings is ($9.06) per share. Zacks Research also issued estimates for Blueprint Medicines’ Q2 2024 earnings at ($2.20) EPS, Q3 2024 earnings at ($2.00) EPS, Q4 2024 earnings at ($1.80) EPS, FY2024 earnings at ($8.31) EPS, Q1 2025 earnings at ($1.65) EPS, Q2 2025 earnings at ($1.61) EPS and FY2025 earnings at ($6.14) EPS.
Several other brokerages also recently issued reports on BPMC. Morgan Stanley lifted their price target on shares of Blueprint Medicines from $55.00 to $59.00 and gave the company an “equal weight” rating in a report on Thursday, August 3rd. SVB Securities cut shares of Blueprint Medicines from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $48.00 to $43.00 in a research report on Monday, June 5th. HC Wainwright reiterated a “buy” rating and set a $85.00 price target on shares of Blueprint Medicines in a research report on Thursday, August 3rd. StockNews.com started coverage on shares of Blueprint Medicines in a research report on Thursday, August 17th. They set a “sell” rating for the company. Finally, JMP Securities restated a “market outperform” rating and set a $114.00 price objective on shares of Blueprint Medicines in a report on Monday, August 7th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Blueprint Medicines currently has a consensus rating of “Hold” and a consensus target price of $75.21.
Blueprint Medicines Stock Performance
NASDAQ BPMC opened at $49.52 on Friday. The company’s fifty day moving average is $52.59 and its two-hundred day moving average is $52.80. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of -5.37 and a beta of 0.74. Blueprint Medicines has a 52-week low of $37.82 and a 52-week high of $68.63. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.80 and a quick ratio of 4.70.
Blueprint Medicines (NASDAQ:BPMC – Get Free Report) last announced its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($2.19) EPS for the quarter, topping the consensus estimate of ($2.58) by $0.39. Blueprint Medicines had a negative net margin of 245.62% and a negative return on equity of 117.88%. The company had revenue of $57.60 million for the quarter, compared to analyst estimates of $45.60 million. During the same quarter in the prior year, the business posted ($2.68) EPS. Blueprint Medicines’s quarterly revenue was up 57.8% on a year-over-year basis.
Institutional Investors Weigh In On Blueprint Medicines
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BPMC. Nisa Investment Advisors LLC grew its holdings in Blueprint Medicines by 158.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,605 shares of the biotechnology company’s stock valued at $72,000 after buying an additional 983 shares in the last quarter. Bessemer Group Inc. bought a new stake in Blueprint Medicines in the 1st quarter worth approximately $36,000. Granahan Investment Management LLC lifted its position in Blueprint Medicines by 3.3% in the 1st quarter. Granahan Investment Management LLC now owns 232,219 shares of the biotechnology company’s stock worth $10,448,000 after buying an additional 7,405 shares during the last quarter. Neo Ivy Capital Management lifted its position in Blueprint Medicines by 101.8% in the fourth quarter. Neo Ivy Capital Management now owns 5,070 shares of the biotechnology company’s stock valued at $222,000 after purchasing an additional 2,558 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Blueprint Medicines by 64.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,718 shares of the biotechnology company’s stock worth $1,067,000 after acquiring an additional 9,265 shares during the period.
Insider Buying and Selling at Blueprint Medicines
In other Blueprint Medicines news, Director Jeffrey W. Albers sold 10,000 shares of the firm’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $50.16, for a total transaction of $501,600.00. Following the transaction, the director now directly owns 176,050 shares in the company, valued at approximately $8,830,668. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.88% of the company’s stock.
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; and Fisogatinib.
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