Q3 2022 EPS Estimates for Blueprint Medicines Co. Cut by Analyst (NASDAQ:BPMC)

Blueprint Medicines Co. (NASDAQ:BPMC – Get Rating) – Equities research analysts at Wedbush cut their Q3 2022 earnings per share (EPS) estimates for Blueprint Medicines in a note issued to investors on Tuesday, August 2nd. Wedbush analyst D. Nierengarten now anticipates that the biotechnology company will earn ($2.19) per share for the quarter, down from their previous estimate of $4.80. The consensus estimate for Blueprint Medicines’ current full-year earnings is ($7.70) per share. Wedbush also issued estimates for Blueprint Medicines’ Q4 2022 earnings at ($2.13) EPS, FY2022 earnings at ($8.79) EPS, FY2023 earnings at ($8.37) EPS, FY2024 earnings at ($4.20) EPS, FY2025 earnings at $2.83 EPS and FY2026 earnings at $2.42 EPS.

Blueprint Medicines (NASDAQ:BPMC – Get Rating) last posted its quarterly earnings results 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). The company had revenue of $36.55 million during the quarter, compared to the consensus estimate of $37.61 million. Blueprint Medicines had a negative net margin of 304.41% and a negative return on equity of 45.89%. Blueprint Medicines’s quarterly revenue was up 33.9% on a year-over-year basis. During the same period in the prior year, the company posted ($1.86) EPS.

Several other brokerages also recently issued reports on BPMC. Piper Sandler cut their target price on shares of Blueprint Medicines from $65.00 to $59.00 in a research note on Tuesday. SVB Leerink boosted their target price on shares of Blueprint Medicines from $56.00 to $65.00 and gave the company a “market perform” rating in a research note on Wednesday. Oppenheimer initiated coverage on shares of Blueprint Medicines in a research note on Thursday, July 7th. They set an “outperform” rating and a $80.00 target price on the stock. Raymond James cut their target price on shares of Blueprint Medicines from $133.00 to $115.00 and set a “strong-buy” rating on the stock in a research note on Wednesday. Finally, Wells Fargo & Company initiated coverage on shares of Blueprint Medicines in a research note on Monday, June 27th. They set an “underweight” rating and a $40.00 target price on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Blueprint Medicines currently has an average rating of “Moderate Buy” and an average target price of $91.47.

Blueprint Medicines Stock Performance

NASDAQ BPMC opened at $68.14 on Friday. The stock has a market capitalization of $4.06 billion, a P/E ratio of -5.74 and a beta of 0.94. Blueprint Medicines has a 1 year low of $43.46 and a 1 year high of $117.86. The business’s fifty day moving average is $54.16 and its two-hundred day moving average is $61.29.

Institutional Investors Weigh In On Blueprint Medicines

Large investors have recently bought and sold shares of the business. Aigen Investment Management LP bought a new stake in Blueprint Medicines during the first quarter valued at about $570,000. Alliancebernstein L.P. boosted its holdings in Blueprint Medicines by 7.6% during the fourth quarter. Alliancebernstein L.P. now owns 1,500,745 shares of the biotechnology company’s stock valued at $160,745,000 after acquiring an additional 106,541 shares during the period. Candriam Luxembourg S.C.A. boosted its holdings in Blueprint Medicines by 12.6% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 352,243 shares of the biotechnology company’s stock valued at $37,728,000 after acquiring an additional 39,293 shares during the period. Pictet Asset Management SA boosted its holdings in Blueprint Medicines by 14.6% during the fourth quarter. Pictet Asset Management SA now owns 1,066,612 shares of the biotechnology company’s stock valued at $114,245,000 after acquiring an additional 135,596 shares during the period. Finally, Capital Impact Advisors LLC bought a new stake in Blueprint Medicines during the fourth quarter valued at about $821,000. 99.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Percy H. Carter sold 1,908 shares of the company’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $59.76, for a total value of $114,022.08. Following the completion of the sale, the insider now directly owns 28,685 shares in the company, valued at $1,714,215.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.34% of the stock is currently owned by corporate insiders.

Blueprint Medicines Company Profile

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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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