Q2 2023 Earnings Estimate for Blueprint Medicines Co. (NASDAQ:BPMC) Issued By HC Wainwright

Posted by MarketBeat News on May 26th, 2023

Blueprint Medicines Co. (NASDAQ:BPMC – Get Rating) – HC Wainwright increased their Q2 2023 earnings per share estimates for Blueprint Medicines in a report released on Tuesday, May 23rd. HC Wainwright analyst A. Fein now anticipates that the biotechnology company will post earnings per share of ($2.31) for the quarter, up from their prior estimate of ($2.33). The consensus estimate for Blueprint Medicines’ current full-year earnings is ($9.59) per share. HC Wainwright also issued estimates for Blueprint Medicines’ Q3 2023 earnings at ($2.23) EPS, Q4 2023 earnings at ($2.13) EPS, FY2023 earnings at ($8.80) EPS, FY2024 earnings at ($5.06) EPS, FY2025 earnings at ($3.17) EPS, FY2026 earnings at ($1.28) EPS and FY2027 earnings at $1.25 EPS.

Blueprint Medicines (NASDAQ:BPMC – Get Rating) last posted its quarterly earnings results on Thursday, May 4th. The biotechnology company reported ($2.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.66) by $0.51. The business had revenue of $63.29 million during the quarter, compared to analyst estimates of $41.85 million. Blueprint Medicines had a negative net margin of 284.02% and a negative return on equity of 100.31%. The firm’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.79) earnings per share.

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A number of other research firms have also recently weighed in on BPMC. VNET Group reaffirmed a “maintains” rating on shares of Blueprint Medicines in a report on Friday, May 5th. StockNews.com initiated coverage on shares of Blueprint Medicines in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Barclays boosted their target price on Blueprint Medicines from $44.00 to $46.00 in a research note on Tuesday. SVB Securities dropped their target price on Blueprint Medicines from $45.00 to $38.00 in a report on Friday, February 24th. Finally, JMP Securities reissued a “market outperform” rating and set a $114.00 price target on shares of Blueprint Medicines in a research report on Thursday, March 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $72.84.

Blueprint Medicines Stock Down 6.4 %

Shares of BPMC stock opened at $54.28 on Thursday. The stock has a 50 day moving average of $49.07 and a 200-day moving average of $46.43. Blueprint Medicines has a 12 month low of $37.82 and a 12 month high of $79.40. The company has a quick ratio of 5.11, a current ratio of 5.21 and a debt-to-equity ratio of 0.29. The firm has a market cap of $3.28 billion, a PE ratio of -5.59 and a beta of 0.72.

Insider Buying and Selling

In other Blueprint Medicines news, CEO Kate Haviland sold 6,640 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $45.69, for a total transaction of $303,381.60. Following the sale, the chief executive officer now owns 125,641 shares of the company’s stock, valued at approximately $5,740,537.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Christopher K. Murray sold 1,875 shares of the company’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $45.68, for a total transaction of $85,650.00. Following the completion of the transaction, the insider now owns 25,695 shares in the company, valued at approximately $1,173,747.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Kate Haviland sold 6,640 shares of the firm’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $45.69, for a total value of $303,381.60. Following the completion of the transaction, the chief executive officer now owns 125,641 shares in the company, valued at approximately $5,740,537.29. The disclosure for this sale can be found here. Insiders sold 27,696 shares of company stock valued at $1,265,091 over the last 90 days. Corporate insiders own 3.42% of the company’s stock.

Institutional Trading of Blueprint Medicines

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates boosted its position in shares of Blueprint Medicines by 18.6% during the 1st quarter. Raymond James & Associates now owns 31,565 shares of the biotechnology company’s stock worth $2,016,000 after purchasing an additional 4,945 shares in the last quarter. US Bancorp DE boosted its position in Blueprint Medicines by 11.4% during the 1st quarter. US Bancorp DE now owns 7,234 shares of the biotechnology company’s stock worth $463,000 after purchasing an additional 743 shares during the period. MetLife Investment Management LLC grew its stake in shares of Blueprint Medicines by 53.9% in the first quarter. MetLife Investment Management LLC now owns 31,782 shares of the biotechnology company’s stock valued at $2,030,000 after buying an additional 11,131 shares in the last quarter. Rhumbline Advisers grew its position in Blueprint Medicines by 1.5% in the first quarter. Rhumbline Advisers now owns 63,434 shares of the biotechnology company’s stock valued at $4,052,000 after acquiring an additional 924 shares in the last quarter. Finally, BlackRock Inc. increased its stake in 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.

About Blueprint Medicines

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Blueprint Medicines Corp. is a precision therapy company, which engages in the invention of medicines for people with cancer and blood disorders. The company was founded by Chris Varma, Nicholas B. Lydon, Brian Druker, and Alexis Borisy on October 14, 2008 and is headquartered in Cambridge, MA.