Blueprint Medicines Co. (NASDAQ:BPMC) to Post FY2022 Earnings of ($10.08) Per Share, SVB Leerink Forecasts

Blueprint Medicines Co. (NASDAQ:BPMCGet Rating) – Equities research analysts at SVB Leerink cut their FY2022 EPS estimates for shares of Blueprint Medicines in a research note issued to investors on Wednesday, August 3rd. SVB Leerink analyst A. Berens now forecasts that the biotechnology company will earn ($10.08) per share for the year, down from their prior estimate of ($9.63). SVB Leerink currently has a “Market Perform” rating and a $65.00 target price on the stock. The consensus estimate for Blueprint Medicines’ current full-year earnings is ($7.70) per share. SVB Leerink also issued estimates for Blueprint Medicines’ Q4 2022 earnings at ($2.95) EPS, FY2023 earnings at ($9.94) EPS, FY2024 earnings at ($7.94) EPS, FY2025 earnings at ($6.04) EPS and FY2026 earnings at ($2.54) EPS.

Blueprint Medicines (NASDAQ:BPMCGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The biotechnology company reported ($2.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.23) by ($0.45). Blueprint Medicines had a negative net margin of 304.41% and a negative return on equity of 45.89%. The firm had revenue of $36.55 million during the quarter, compared to the consensus estimate of $37.61 million. During the same quarter last year, the firm posted ($1.86) earnings per share. Blueprint Medicines’s revenue was up 33.9% compared to the same quarter last year.

A number of other research analysts also recently commented on BPMC. HC Wainwright restated a “buy” rating on shares of Blueprint Medicines in a research note on Wednesday. Jefferies Financial Group raised Blueprint Medicines from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $88.00 to $78.00 in a report on Wednesday, June 1st. Citigroup lowered Blueprint Medicines from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $68.00 to $41.00 in a research report on Thursday, June 9th. JMP Securities restated a “buy” rating and set a $152.00 price objective on shares of Blueprint Medicines in a research note on Thursday, June 9th. Finally, Wells Fargo & Company assumed coverage on shares of Blueprint Medicines in a research report on Monday, June 27th. They issued an “underweight” rating and a $40.00 target price for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $91.47.

Blueprint Medicines Stock Up 5.3 %

Shares of BPMC stock opened at $68.14 on Friday. The company has a market cap of $4.06 billion, a P/E ratio of -5.74 and a beta of 0.94. The business has a 50 day moving average of $54.16 and a two-hundred day moving average of $61.29. Blueprint Medicines has a 52 week low of $43.46 and a 52 week high of $117.86.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its position in shares of Blueprint Medicines by 0.9% during the 1st quarter. BlackRock Inc. now owns 5,383,138 shares of the biotechnology company’s stock worth $343,876,000 after buying an additional 46,264 shares during the period. Wellington Management Group LLP grew its position in shares of Blueprint Medicines by 12.4% during the 1st quarter. Wellington Management Group LLP now owns 3,908,944 shares of the biotechnology company’s stock worth $249,703,000 after buying an additional 431,619 shares during the period. State Street Corp grew its position in shares of Blueprint Medicines by 30.9% during the 1st quarter. State Street Corp now owns 2,266,894 shares of the biotechnology company’s stock worth $144,809,000 after buying an additional 535,424 shares during the period. Cadian Capital Management LP boosted its stake in Blueprint Medicines by 326.3% during the 1st quarter. Cadian Capital Management LP now owns 1,921,347 shares of the biotechnology company’s stock worth $122,736,000 after acquiring an additional 1,470,690 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its stake in Blueprint Medicines by 1.8% during the 4th quarter. William Blair Investment Management LLC now owns 1,747,721 shares of the biotechnology company’s stock worth $187,198,000 after acquiring an additional 30,557 shares during the last quarter. 99.69% of the stock is owned by institutional investors.

Insider Transactions at Blueprint Medicines

In related news, insider Percy H. Carter sold 1,908 shares of the company’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $59.76, for a total value of $114,022.08. Following the sale, the insider now owns 28,685 shares of the company’s stock, valued at $1,714,215.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.34% 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.

See Also

Earnings History and Estimates for Blueprint Medicines (NASDAQ:BPMC)

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