Q3 2022 Earnings Forecast for Blueprint Medicines Co. Issued By Jefferies Financial Group (NASDAQ:BPMC)

Blueprint Medicines Co. (NASDAQ:BPMCGet Rating) – Stock analysts at Jefferies Financial Group lowered their Q3 2022 earnings per share estimates for Blueprint Medicines in a research note issued to investors on Tuesday, August 2nd. Jefferies Financial Group analyst E. Yang now expects that the biotechnology company will post earnings per share of ($2.48) for the quarter, down from their previous forecast of ($2.11). Jefferies Financial Group currently has a “Buy” rating and a $78.00 target price on the stock. The consensus estimate for Blueprint Medicines’ current full-year earnings is ($7.70) per share. Jefferies Financial Group also issued estimates for Blueprint Medicines’ Q4 2022 earnings at ($2.15) EPS, FY2022 earnings at ($9.10) EPS, FY2023 earnings at ($8.59) EPS, FY2024 earnings at ($6.72) EPS, FY2025 earnings at ($3.74) EPS and FY2026 earnings at ($1.91) EPS.

A number of other research analysts have also recently weighed in on the company. The Goldman Sachs Group lifted their target price on Blueprint Medicines from $126.00 to $143.00 and gave the company a “buy” rating in a report on Wednesday. Raymond James reduced their target price on Blueprint Medicines from $133.00 to $115.00 and set a “strong-buy” rating on the stock in a report on Wednesday. JMP Securities reiterated a “buy” rating and issued a $152.00 target price on shares of Blueprint Medicines in a report on Thursday, June 9th. Piper Sandler reduced their target price on Blueprint Medicines from $65.00 to $59.00 in a report on Tuesday. Finally, Stifel Nicolaus reduced their target price on Blueprint Medicines from $98.00 to $90.00 in a report on Friday, July 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Blueprint Medicines currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.47.

Blueprint Medicines Stock Up 5.3 %

BPMC stock opened at $68.14 on Friday. Blueprint Medicines has a 52-week low of $43.46 and a 52-week high of $117.86. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of -5.74 and a beta of 0.94. The stock’s fifty day simple moving average is $54.16 and its 200-day simple moving average is $61.29.

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

Institutional Trading of Blueprint Medicines

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its position in shares of Blueprint Medicines by 0.9% during the first quarter. BlackRock Inc. now owns 5,383,138 shares of the biotechnology company’s stock worth $343,876,000 after acquiring an additional 46,264 shares during the last quarter. Wellington Management Group LLP increased its holdings in Blueprint Medicines by 12.4% in the first quarter. Wellington Management Group LLP now owns 3,908,944 shares of the biotechnology company’s stock valued at $249,703,000 after buying an additional 431,619 shares during the last quarter. State Street Corp increased its holdings in Blueprint Medicines by 30.9% in the first quarter. State Street Corp now owns 2,266,894 shares of the biotechnology company’s stock valued at $144,809,000 after buying an additional 535,424 shares during the last quarter. Cadian Capital Management LP increased its holdings in Blueprint Medicines by 326.3% in the first quarter. Cadian Capital Management LP now owns 1,921,347 shares of the biotechnology company’s stock valued at $122,736,000 after buying an additional 1,470,690 shares during the last quarter. Finally, William Blair Investment Management LLC increased its holdings in Blueprint Medicines by 1.8% in the fourth quarter. William Blair Investment Management LLC now owns 1,747,721 shares of the biotechnology company’s stock valued at $187,198,000 after buying an additional 30,557 shares during the last quarter. 99.69% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Blueprint Medicines

In other news, insider Percy H. Carter sold 1,908 shares of Blueprint Medicines stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $59.76, for a total transaction of $114,022.08. Following the sale, the insider now directly owns 28,685 shares of the company’s stock, valued at $1,714,215.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate 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)

Want More Great Investing Ideas?

Receive News & Ratings for Blueprint Medicines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blueprint Medicines and related companies with MarketBeat.com's FREE daily email newsletter.