Short interest in Blueprint Medicines Co. (NASDAQ:BPMC) down 7.3%

Vaseline3 weeks ago

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Blueprint Medicines Co. (NASDAQ:BPMC – Get Free Report ) received a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 3,670,000 shares, a decrease of 7.3% from its August 31st total of 3,960,000 shares. Based on an average trading volume of 691,700 shares, the short interest rate is currently 5.3 days.

Analysts on Wall Street are forecasting an increase

BPMC has been the subject of several research reports. Guggenheim boosted their price objective on Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Barclays boosted their target price on shares of Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Morgan Stanley boosted their target price on shares of Blueprint Medicines from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Friday, July 12th. Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price objective on shares of Blueprint Medicines in a report on Thursday, August 1st. Finally, Baird RW upgraded Blueprint Medicines to a “strong-buy” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Moderate Buy” and an average target price of $120.00, according to MarketBeat.com.

Get the latest research report on Blueprint Medicines

Insider buying and selling

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In related news, insider Philina Lee sold 41,913 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $93.19, for a total value of $3,905,872.47. Following the completion of the transaction, the insider now directly owns 34,729 shares in the company, valued at approximately $3,236,395.51. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC’s website. In related news, insider Philina Lee sold 41,913 shares of Blueprint Medicines stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $93.19, for a total value of $3,905,872.47. Following the completion of the transaction, the insider now owns 34,729 shares in the company, valued at approximately $3,236,395.51. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Also, insider Debra Durso-Bumpus sold 3,850 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $111.20, for a total value of $428,120.00. Following the transaction, the insider now owns 43,763 shares in the company, valued at approximately $4,866,445.60. The disclosure for this sale can be found here. Insiders have sold a total of 54,580 shares of company stock worth $5,315,236 in the last ninety days. Company insiders own 4.21% of the company’s shares.

Institutional Drug Marketing Blueprint

A number of institutional investors have recently bought and sold shares of BPMC. Triad Wealth Partners LLC purchased a new stake in Blueprint Medicines in the second quarter valued at about $27,000. Covestor Ltd boosted its holdings in shares of Blueprint Medicines by 9,700.0% in the 1st quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 291 shares in the last quarter. Headlands Technologies LLC increased its position in shares of Blueprint Medicines by 105.2% in the first quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock valued at $63,000 after purchasing an additional 342 shares during the last quarter. Natixis purchased a new position in shares of Blueprint Medicines in the first quarter valued at $73,000. Finally, CWM LLC boosted its stake in Blueprint Medicines by 114.6% during the 2nd quarter. CWM LLC now owns 1,105 shares of the biotechnology company’s stock worth $119,000 after acquiring an additional 590 shares in the last quarter.

Blueprint drug stock up 3.9%

NASDAQ:BPMC traded up $3.49 during midday trading on Friday, hitting $92.55. The company had a trading volume of 831,855 shares, compared to its average volume of 702,910. The company has a current ratio of 3.71, a quick ratio of 3.65, and a debt-to-equity ratio of 1.06. The firm has a market cap of $5.80 billion, a price-to-earnings ratio of -19.24 and a beta of 0.58. The stock’s fifty-day simple moving average is $95.09, and its 200-day simple moving average is $98.99. Blueprint Medicines has a 12-month low of $43.89 and a 12-month high of $121.90.

Blueprint Medicines (NASDAQ:BPMC – Get Free Report ) last posted its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.49. Blueprint Medicines had a negative net margin of 56.64% and a negative return on equity of 157.30%. The company had revenue of $138.20 million during the quarter, compared to the consensus estimate of $104.02 million. In the same quarter last year, the firm earned ($2.19) earnings per share. The company’s quarterly revenue was up 139.9% year over year. On average, sell-side analysts anticipate that Blueprint Medicines will post -3.99 earnings per share for the current fiscal year.

About Blueprint Medicines

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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 (MS) and gastrointestinal stromal tumors; BLU-263, a potent orally available KIT inhibitor also for the treatment of indolent MS and other mast cell disorders.