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

Blueprint Medicines Co. (NASDAQ:BPMC) was the recipient of a large growth in short interest in October. As of October 31st, there was short interest totalling 4,130,000 shares, a growth of 14.1% from the October 15th total of 3,620,000 shares. Based on an average daily volume of 607,600 shares, the short-interest ratio is currently 6.8 days.

Blueprint Medicines Price Performance

NASDAQ:BPMC traded down $6.96 during mid-day trading on Friday, hitting $88.69. 1,001,074 shares of the company’s stock traded hands, compared to its average volume of 692,935. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32. The firm’s 50 day simple moving average is $89.59 and its 200 day simple moving average is $98.86. Blueprint Medicines has a 1 year low of $62.56 and a 1 year high of $121.90. The company has a market cap of $5.63 billion, a PE ratio of -42.03 and a beta of 0.59.

Blueprint Medicines (NASDAQ:BPMC) last issued 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 the consensus estimate of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The company’s quarterly revenue was up 126.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($2.20) earnings per share. Sell-side analysts expect that Blueprint Medicines will post -3.61 EPS for the current year.

Insiders Place Their Bets

In other news, insider Fouad Namouni sold 3,633 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total transaction of $324,499.56. Following the transaction, the insider now directly owns 69,070 shares of the company’s stock, valued at approximately $6,169,332.40. This trade represents a 5.00 % 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. Corporate insiders own 4.21% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Triad Wealth Partners LLC acquired a new position in shares of Blueprint Medicines during the second quarter worth $27,000. Covestor Ltd lifted its position in shares of Blueprint Medicines by 9,700.0% during the first quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 291 shares in the last quarter. Quarry LP acquired a new position in shares of Blueprint Medicines during the third quarter worth $32,000. Headlands Technologies LLC lifted its position in shares of Blueprint Medicines by 105.2% during the first quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 342 shares in the last quarter. Finally, Natixis bought a new stake in shares of Blueprint Medicines in the first quarter worth $73,000.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Barclays raised their target price on shares of Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Robert W. Baird boosted their target price on shares of Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. HC Wainwright restated a “buy” rating and set a $135.00 target price on shares of Blueprint Medicines in a research report on Friday. StockNews.com upgraded shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a report on Thursday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $122.11.

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.