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

Blueprint Medicines Co. (NASDAQ:BPMC) was the recipient of a large decline in short interest in November. As of November 15th, there was short interest totalling 3,910,000 shares, a decline of 5.3% from the October 31st total of 4,130,000 shares. Based on an average trading volume of 639,000 shares, the short-interest ratio is currently 6.1 days.

Insider Buying and Selling

In other news, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $95.10, for a total transaction of $216,257.40. Following the sale, the chief operating officer now owns 71,657 shares in the company, valued at $6,814,580.70. This trade represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Fouad Namouni sold 3,633 shares of the firm’s 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 sale, the insider now directly owns 69,070 shares of the company’s stock, valued at approximately $6,169,332.40. The trade was a 5.00 % 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 corporate insiders.

Institutional Investors Weigh In On Blueprint Medicines

Large investors have recently made changes to their positions in the company. Triad Wealth Partners LLC bought a new position in Blueprint Medicines in the 2nd quarter worth approximately $27,000. Quarry LP acquired a new position in Blueprint Medicines during the 3rd quarter worth $32,000. Covestor Ltd grew its stake in shares of Blueprint Medicines by 206.7% in the third quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 403 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Blueprint Medicines during the third quarter valued at $108,000. Finally, CWM LLC raised its stake in shares of Blueprint Medicines by 114.6% during the second quarter. CWM LLC now owns 1,105 shares of the biotechnology company’s stock valued at $119,000 after purchasing an additional 590 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BPMC. StockNews.com upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Wedbush reissued an “outperform” rating and set a $135.00 price target on shares of Blueprint Medicines in a research report on Thursday, November 14th. Wells Fargo & Company cut their price target 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. Needham & Company LLC reissued a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, November 15th. Finally, HC Wainwright reissued a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Blueprint Medicines currently has an average rating of “Moderate Buy” and a consensus price target of $122.11.

Blueprint Medicines Trading Up 1.3 %

Shares of NASDAQ BPMC opened at $97.62 on Tuesday. The company has a market cap of $6.20 billion, a price-to-earnings ratio of -46.27 and a beta of 0.59. The stock’s 50 day simple moving average is $90.97 and its 200 day simple moving average is $98.04. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09. Blueprint Medicines has a 12-month low of $70.39 and a 12-month high of $121.90.

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

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.