Blueprint Medicines Co. (NASDAQ:BPMC) Short Interest Update

Blueprint Medicines Co. (NASDAQ:BPMC) was the target of a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 4,190,000 shares, an increase of 7.2% from the November 15th total of 3,910,000 shares. Based on an average trading volume of 628,200 shares, the short-interest ratio is presently 6.7 days.

Blueprint Medicines Stock Performance

NASDAQ BPMC traded up $1.33 on Tuesday, hitting $96.72. 130,352 shares of the stock were exchanged, compared to its average volume of 683,715. The business’s fifty day moving average is $92.15 and its 200 day moving average is $97.39. Blueprint Medicines has a 52 week low of $72.24 and a 52 week high of $121.90. The company has a market capitalization of $6.14 billion, a PE ratio of -45.21 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.08. The business had revenue of $128.20 million during the quarter, compared to analysts’ expectations of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. Blueprint Medicines’s quarterly revenue was up 126.5% on a year-over-year basis. During the same quarter last year, the company posted ($2.20) earnings per share. Research analysts anticipate that Blueprint Medicines will post -3.68 EPS for the current fiscal year.

Analysts Set New Price Targets

BPMC has been the topic of a number of recent analyst reports. StockNews.com raised shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. assumed coverage on Blueprint Medicines in a report on Thursday, November 14th. They issued an “overweight” rating and a $126.00 price target for the company. Wedbush reaffirmed an “outperform” rating and set a $135.00 price target on shares of Blueprint Medicines in a research report on Thursday, November 14th. Needham & Company LLC reissued a “buy” rating and set a $135.00 target price on shares of Blueprint Medicines in a research note on Friday, November 15th. Finally, Wells Fargo & Company dropped their target price on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Blueprint Medicines presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.11.

Insider Activity at Blueprint Medicines

In other news, insider Ariel Hurley sold 1,819 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $93.26, for a total value of $169,639.94. Following the transaction, the insider now directly owns 14,967 shares in the company, valued at $1,395,822.42. This trade represents a 10.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Fouad Namouni sold 3,633 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total value of $324,499.56. Following the completion of the sale, the insider now owns 69,070 shares of the company’s stock, valued at $6,169,332.40. This represents a 5.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,079 shares of company stock worth $937,697 over the last 90 days. Insiders own 4.21% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

Large investors have recently added to or reduced their stakes in the business. Amalgamated Bank increased its stake in shares of Blueprint Medicines by 5.3% during the second quarter. Amalgamated Bank now owns 2,154 shares of the biotechnology company’s stock worth $232,000 after purchasing an additional 109 shares during the period. Van ECK Associates Corp grew its holdings in Blueprint Medicines by 13.3% in the 2nd quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $120,000 after buying an additional 131 shares in the last quarter. EFG Asset Management North America Corp. increased its position in Blueprint Medicines by 0.5% during the 2nd quarter. EFG Asset Management North America Corp. now owns 27,884 shares of the biotechnology company’s stock worth $3,008,000 after buying an additional 132 shares during the period. Pallas Capital Advisors LLC lifted its holdings in shares of Blueprint Medicines by 3.2% during the third quarter. Pallas Capital Advisors LLC now owns 5,657 shares of the biotechnology company’s stock worth $523,000 after buying an additional 176 shares in the last quarter. Finally, Clarus Wealth Advisors boosted its position in shares of Blueprint Medicines by 8.6% in the third quarter. Clarus Wealth Advisors now owns 2,590 shares of the biotechnology company’s stock valued at $231,000 after acquiring an additional 206 shares during the period.

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.