Brokerages Anticipate Blueprint Medicines Co. (NASDAQ:BPMC) Will Announce Quarterly Sales of $37.17 Million

Analysts predict that Blueprint Medicines Co. (NASDAQ:BPMC – Get Rating) will announce sales of $37.17 million for the current quarter, according to Zacks. Eight analysts have made estimates for Blueprint Medicines’ earnings, with the highest sales estimate coming in at $41.10 million and the lowest estimate coming in at $34.95 million. Blueprint Medicines reported sales of $27.30 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 36.2%. The firm is scheduled to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Blueprint Medicines will report full year sales of $198.03 million for the current year, with estimates ranging from $183.99 million to $216.90 million. For the next year, analysts forecast that the business will report sales of $336.99 million, with estimates ranging from $219.45 million to $533.50 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Blueprint Medicines.

Blueprint Medicines (NASDAQ:BPMC – Get Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The biotechnology company reported ($1.79) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.80) by $0.01. Blueprint Medicines had a negative return on equity of 35.24% and a negative net margin of 293.97%. The firm had revenue of $62.70 million during the quarter, compared to analyst estimates of $39.98 million. During the same quarter in the previous year, the firm earned ($1.72) EPS. Blueprint Medicines’s quarterly revenue was up 190.3% compared to the same quarter last year.

Several brokerages recently weighed in on BPMC. Stifel Nicolaus raised their price target on shares of Blueprint Medicines from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, March 4th. Jefferies Financial Group upgraded Blueprint Medicines from a “hold” rating to a “buy” rating and decreased their price target for the stock from $88.00 to $78.00 in a research note on Wednesday, June 1st. StockNews.com raised Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Monday, May 9th. Piper Sandler decreased their target price on Blueprint Medicines from $84.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday, May 18th. Finally, SVB Leerink dropped their price target on shares of Blueprint Medicines from $93.00 to $82.00 and set a “market perform” rating on the stock in a report on Thursday, February 17th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Blueprint Medicines presently has a consensus rating of “Buy” and an average price target of $99.00.

Shares of Blueprint Medicines stock opened at $59.35 on Monday. The company has a 50-day simple moving average of $61.14 and a two-hundred day simple moving average of $74.97. The stock has a market capitalization of $3.54 billion, a PE ratio of -5.37 and a beta of 0.97. Blueprint Medicines has a 52-week low of $50.96 and a 52-week high of $117.86.

In related news, insider Ariel Hurley sold 2,339 shares of the stock in a transaction that occurred on Thursday, March 10th. The shares were sold at an average price of $57.15, for a total value of $133,673.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider L. Becker Hewes sold 2,219 shares of Blueprint Medicines stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $60.00, for a total transaction of $133,140.00. The disclosure for this sale can be found here. Insiders have sold a total of 9,558 shares of company stock worth $617,364 in the last quarter. Corporate insiders own 3.34% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its stake in Blueprint Medicines by 114.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 63,312 shares of the biotechnology company’s stock worth $4,091,000 after purchasing an additional 33,822 shares during the period. Golden State Equity Partners bought a new position in shares of Blueprint Medicines during the first quarter worth $201,000. Point72 Hong Kong Ltd purchased a new position in Blueprint Medicines during the first quarter valued at $212,000. Quantbot Technologies LP bought a new stake in Blueprint Medicines in the 1st quarter valued at $95,000. Finally, Rock Springs Capital Management LP lifted its stake in Blueprint Medicines by 10.2% in the 1st quarter. Rock Springs Capital Management LP now owns 947,715 shares of the biotechnology company’s stock worth $60,540,000 after purchasing an additional 87,960 shares in the last quarter. Institutional investors and hedge funds own 99.69% of the company’s stock.

About Blueprint Medicines (Get Rating)

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 non-advanced SM and other mast cell disorders; and Fisogatinib, an orally available and potent inhibitor for the treatment of hepatocellular carcinoma.

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