Blueprint Medicines Corp (NASDAQ:BPMC) Director Sells $824,000.00 in Stock

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Blueprint Medicines Corp (NASDAQ:BPMC) Director Lonnel Coats sold 10,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $82.40, for a total value of $824,000.00. Following the sale, the director now owns 10,000 shares in the company, valued at approximately $824,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Shares of BPMC stock opened at $79.49 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.52 and a current ratio of 7.52. Blueprint Medicines Corp has a 52-week low of $44.58 and a 52-week high of $102.98. The company has a market capitalization of $4.13 billion, a PE ratio of -14.75 and a beta of 1.55. The business’s fifty day moving average is $93.36 and its 200 day moving average is $84.46.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($2.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.92) by ($0.12). Blueprint Medicines had a negative return on equity of 73.73% and a negative net margin of 4,268.74%. The business had revenue of $5.11 million during the quarter, compared to analysts’ expectations of $1.39 million. During the same quarter last year, the business posted ($0.62) EPS. The company’s quarterly revenue was down 87.7% on a year-over-year basis. On average, sell-side analysts forecast that Blueprint Medicines Corp will post -8.45 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the stock. FMR LLC raised its position in shares of Blueprint Medicines by 5.3% in the first quarter. FMR LLC now owns 6,939,294 shares of the biotechnology company’s stock worth $555,491,000 after buying an additional 346,738 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Blueprint Medicines by 8.1% in the second quarter. Vanguard Group Inc. now owns 4,281,362 shares of the biotechnology company’s stock worth $403,861,000 after buying an additional 321,857 shares in the last quarter. BlackRock Inc. raised its position in shares of Blueprint Medicines by 20.9% in the second quarter. BlackRock Inc. now owns 4,109,222 shares of the biotechnology company’s stock worth $387,621,000 after buying an additional 710,147 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Blueprint Medicines by 9.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,681,291 shares of the biotechnology company’s stock worth $347,256,000 after buying an additional 305,682 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Blueprint Medicines by 19,169.3% in the second quarter. Invesco Ltd. now owns 1,801,102 shares of the biotechnology company’s stock worth $169,897,000 after buying an additional 1,791,755 shares in the last quarter. Institutional investors own 97.45% of the company’s stock.

Several research firms have issued reports on BPMC. Deutsche Bank began coverage on Blueprint Medicines in a research report on Thursday, July 18th. They set a “buy” rating and a $110.00 target price on the stock. Robert W. Baird began coverage on Blueprint Medicines in a research report on Thursday, July 18th. They set an “outperform” rating and a $120.00 target price on the stock. Canaccord Genuity increased their target price on Blueprint Medicines from $105.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Cowen restated a “buy” rating on shares of Blueprint Medicines in a research report on Monday, June 17th. Finally, BidaskClub downgraded Blueprint Medicines from a “hold” rating to a “sell” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Blueprint Medicines has an average rating of “Buy” and an average target price of $110.11.

About Blueprint Medicines

Blueprint Medicines Corporation develops drugs of small molecule kinase inhibitors that target genomic drivers in various cancers and a rare genetic disease. Its lead drug candidates include avapritinib, which completed Phase I clinical trials that targets PDGFRA Exon 18 mutant GIST and KIT-driven GIST; and BLU-554, which is in Phase I clinical trials an orally available, potent, and irreversible inhibitor of the kinase FGFR4 that is activated in a defined subset of patients with hepatocellular carcinoma.

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