Blueprint Medicines (NASDAQ:BPMC) Releases Earnings Results, Beats Expectations By $0.49 EPS

Blueprint Medicines (NASDAQ:BPMC) released its quarterly earnings results on Thursday. The biotechnology company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.49, Briefing.com reports. The firm had revenue of $138.20 million during the quarter, compared to analysts’ expectations of $104.02 million. Blueprint Medicines had a negative return on equity of 176.65% and a negative net margin of 56.64%. Blueprint Medicines’s quarterly revenue was up 139.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($2.19) EPS.

Blueprint Medicines Price Performance

BPMC stock traded down $3.57 during trading on Friday, hitting $96.72. The company had a trading volume of 1,779,789 shares, compared to its average volume of 758,420. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of -20.11 and a beta of 0.63. The company has a current ratio of 3.76, a quick ratio of 3.61 and a debt-to-equity ratio of 0.67. The business has a 50 day moving average of $108.75 and a 200 day moving average of $97.20. Blueprint Medicines has a fifty-two week low of $43.89 and a fifty-two week high of $121.90.

Insiders Place Their Bets

In other news, insider Percy H. Carter sold 4,000 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $105.13, for a total value of $420,520.00. Following the sale, the insider now owns 41,895 shares of the company’s stock, valued at approximately $4,404,421.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Percy H. Carter sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $105.13, for a total value of $420,520.00. Following the sale, the insider now directly owns 41,895 shares in the company, valued at approximately $4,404,421.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Debra Durso-Bumpus sold 8,817 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $111.29, for a total transaction of $981,243.93. Following the sale, the insider now directly owns 43,763 shares of the company’s stock, valued at $4,870,384.27. The disclosure for this sale can be found here. In the last three months, insiders have sold 130,064 shares of company stock worth $13,716,726. 4.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BPMC has been the subject of a number of recent analyst reports. Leerink Partnrs raised shares of Blueprint Medicines from an “underperform” rating to a “market perform” rating in a report on Monday, May 6th. Citigroup lifted their price target on shares of Blueprint Medicines from $65.00 to $76.00 and gave the stock a “sell” rating in a research note on Friday, May 3rd. StockNews.com raised Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. Oppenheimer boosted their target price on shares of Blueprint Medicines from $114.00 to $125.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Finally, Piper Sandler raised their target price on shares of Blueprint Medicines from $78.00 to $104.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $120.00.

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.