Blueprint Medicines (NASDAQ:BPMC) Announces Earnings Results, Beats Estimates By $0.08 EPS

Blueprint Medicines (NASDAQ:BPMC) released its earnings results on Wednesday. The biotechnology company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.08, Briefing.com reports. Blueprint Medicines had a negative return on equity of 118.86% and a negative net margin of 29.48%. The firm had revenue of $128.20 million during the quarter, compared to analysts’ expectations of $127.56 million. During the same period in the previous year, the firm posted ($2.20) EPS. Blueprint Medicines’s revenue for the quarter was up 126.5% on a year-over-year basis.

Blueprint Medicines Stock Performance

Shares of Blueprint Medicines stock opened at $90.70 on Friday. The firm’s fifty day simple moving average is $88.79 and its 200-day simple moving average is $98.39. Blueprint Medicines has a 12 month low of $56.74 and a 12 month high of $121.90. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of -42.99 and a beta of 0.58. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.71 and a quick ratio of 3.65.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BPMC shares. UBS Group assumed coverage on Blueprint Medicines in a research note on Thursday, October 24th. They issued a “neutral” rating and a $88.00 price objective for the company. Barclays lifted their price target on shares of Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Morgan Stanley raised their price objective on shares of Blueprint Medicines from $110.00 to $115.00 and gave the company an “equal weight” rating in a report on Friday, July 12th. Needham & Company LLC reiterated a “buy” rating and set a $133.00 target price on shares of Blueprint Medicines in a research note on Wednesday. Finally, Oppenheimer lifted their price target on Blueprint Medicines from $114.00 to $125.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Two research 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.39.

Insider Buying and Selling

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of Blueprint Medicines stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total value of $324,499.56. Following the transaction, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Philina Lee sold 41,913 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the completion of the sale, the insider now directly owns 34,729 shares of the company’s stock, valued at $3,236,395.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Fouad Namouni sold 3,633 shares of Blueprint Medicines stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total transaction of $324,499.56. Following the completion of the transaction, the insider now owns 69,070 shares in the company, valued at approximately $6,169,332.40. This trade 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 owned by company insiders.

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.