Blueprint Medicines (NASDAQ:BPMC) Shares Gap Down – What’s Next?

Blueprint Medicines Co. (NASDAQ:BPMC)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $103.56, but opened at $95.00. Blueprint Medicines shares last traded at $96.61, with a volume of 567,493 shares trading hands.

Wall Street Analysts Forecast Growth

BPMC has been the topic of several research reports. Stephens reiterated an “overweight” rating and issued a $140.00 price objective on shares of Blueprint Medicines in a research note on Thursday, January 2nd. JPMorgan Chase & Co. upped their price objective on shares of Blueprint Medicines from $126.00 to $129.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Wells Fargo & Company decreased their price objective on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. StockNews.com downgraded shares of Blueprint Medicines from a “hold” rating to a “sell” rating in a report on Friday. Finally, JMP Securities restated a “market outperform” rating and issued a $125.00 price target on shares of Blueprint Medicines in a research report on Friday. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Blueprint Medicines has a consensus rating of “Moderate Buy” and an average target price of $123.83.

Blueprint Medicines Trading Down 1.3 %

The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09. The stock has a 50 day moving average of $99.61 and a 200-day moving average of $94.66.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. As a group, sell-side analysts forecast that Blueprint Medicines Co. will post -3.63 EPS for the current year.

Insider Buying and Selling at Blueprint Medicines

In related news, CEO Kate Haviland sold 1,446 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total value of $159,407.04. Following the sale, the chief executive officer now directly owns 149,378 shares of the company’s stock, valued at $16,467,430.72. This represents a 0.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Christina Rossi sold 2,274 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $95.10, for a total value of $216,257.40. Following the completion of the sale, the chief operating officer now directly owns 71,657 shares in the company, valued at approximately $6,814,580.70. The trade was a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,851 shares of company stock worth $4,984,696. 4.21% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Blueprint Medicines

A number of institutional investors have recently modified their holdings of the stock. Comerica Bank grew its stake in shares of Blueprint Medicines by 411.5% in the fourth quarter. Comerica Bank now owns 13,115 shares of the biotechnology company’s stock worth $1,144,000 after acquiring an additional 10,551 shares during the last quarter. PDT Partners LLC purchased a new stake in shares of Blueprint Medicines in the fourth quarter worth $270,000. AQR Capital Management LLC grew its stake in shares of Blueprint Medicines by 26.9% in the fourth quarter. AQR Capital Management LLC now owns 144,693 shares of the biotechnology company’s stock worth $12,620,000 after acquiring an additional 30,635 shares during the last quarter. Northern Trust Corp boosted its position in shares of Blueprint Medicines by 9.5% during the fourth quarter. Northern Trust Corp now owns 608,392 shares of the biotechnology company’s stock valued at $53,064,000 after buying an additional 52,574 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Blueprint Medicines by 17.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 176,484 shares of the biotechnology company’s stock valued at $15,393,000 after buying an additional 26,488 shares during the last quarter.

About Blueprint Medicines

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.