Wedbush Boosts Earnings Estimates for Blueprint Medicines

Blueprint Medicines Co. (NASDAQ:BPMC) – Research analysts at Wedbush increased their Q4 2024 EPS estimates for shares of Blueprint Medicines in a research note issued on Wednesday, October 30th. Wedbush analyst D. Nierengarten now anticipates that the biotechnology company will earn ($0.66) per share for the quarter, up from their previous estimate of ($0.96). The consensus estimate for Blueprint Medicines’ current full-year earnings is ($3.82) per share. Wedbush also issued estimates for Blueprint Medicines’ Q1 2025 earnings at ($0.53) EPS, Q2 2025 earnings at ($0.39) EPS, Q3 2025 earnings at ($0.23) EPS, Q4 2025 earnings at ($0.06) EPS and FY2025 earnings at ($1.21) EPS.

A number of other brokerages have also issued reports on BPMC. Guggenheim boosted their price target on shares of Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Baird R W raised shares of Blueprint Medicines to a “strong-buy” rating in a research note on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and issued a $133.00 price target on shares of Blueprint Medicines in a research note on Wednesday. UBS Group initiated coverage on Blueprint Medicines in a research note on Thursday, October 24th. They issued a “neutral” rating and a $88.00 price objective on the stock. Finally, Wells Fargo & Company cut their price target on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a report on Thursday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Blueprint Medicines currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.39.

Blueprint Medicines Price Performance

BPMC opened at $87.51 on Friday. The firm has a market cap of $5.54 billion, a price-to-earnings ratio of -41.47 and a beta of 0.58. 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 stock’s 50-day moving average price is $88.86 and its 200 day moving average price is $98.35. Blueprint Medicines has a 12-month low of $53.73 and a 12-month high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.08. Blueprint Medicines had a negative return on equity of 118.86% and a negative net margin of 29.48%. The business had revenue of $128.20 million during the quarter, compared to analyst estimates of $127.56 million. During the same period last year, the business posted ($2.20) earnings per share. The company’s quarterly revenue was up 126.5% on a year-over-year basis.

Hedge Funds Weigh In On Blueprint Medicines

A number of hedge funds and other institutional investors have recently bought and sold shares of BPMC. M&G PLC purchased a new position in Blueprint Medicines during the 3rd quarter worth $9,101,000. Emerald Advisers LLC increased its stake in shares of Blueprint Medicines by 10.2% during the third quarter. Emerald Advisers LLC now owns 375,866 shares of the biotechnology company’s stock worth $34,768,000 after acquiring an additional 34,666 shares during the period. Emerald Mutual Fund Advisers Trust raised its holdings in Blueprint Medicines by 3.7% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 288,540 shares of the biotechnology company’s stock worth $26,690,000 after purchasing an additional 10,207 shares in the last quarter. US Bancorp DE lifted its position in Blueprint Medicines by 147.6% in the third quarter. US Bancorp DE now owns 11,971 shares of the biotechnology company’s stock valued at $1,107,000 after purchasing an additional 7,137 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Blueprint Medicines by 65.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 12,183 shares of the biotechnology company’s stock worth $1,127,000 after acquiring an additional 4,828 shares during the period.

Insider Buying and Selling

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was 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 in the company, valued at approximately $6,169,332.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Fouad Namouni sold 3,633 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total value of $324,499.56. Following the transaction, the insider now owns 69,070 shares in the company, valued at $6,169,332.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Philina Lee sold 41,913 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly owns 34,729 shares of the company’s stock, valued at approximately $3,236,395.51. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.21% of the stock is currently owned by company insiders.

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.