Equities Analysts Issue Forecasts for Blueprint Medicines Co.’s FY2023 Earnings (NASDAQ:BPMC)

Blueprint Medicines Co. (NASDAQ:BPMCFree Report) – Analysts at Leerink Partnrs upped their FY2023 earnings per share (EPS) estimates for Blueprint Medicines in a research note issued to investors on Monday, February 5th. Leerink Partnrs analyst A. Berens now expects that the biotechnology company will post earnings of ($8.42) per share for the year, up from their previous forecast of ($8.71). The consensus estimate for Blueprint Medicines’ current full-year earnings is ($8.61) per share. Leerink Partnrs also issued estimates for Blueprint Medicines’ Q4 2023 earnings at ($2.10) EPS, FY2024 earnings at ($6.14) EPS, FY2025 earnings at ($4.45) EPS and FY2026 earnings at ($2.29) EPS.

Several other equities research analysts also recently issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $85.00 price target on shares of Blueprint Medicines in a report on Monday, December 11th. Wells Fargo & Company upped their price target on Blueprint Medicines from $86.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, December 19th. JMP Securities reiterated a “market outperform” rating and set a $114.00 price target on shares of Blueprint Medicines in a report on Tuesday, January 16th. Needham & Company LLC upped their price target on Blueprint Medicines from $66.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Finally, Barclays upped their price target on Blueprint Medicines from $46.00 to $58.00 and gave the stock an “equal weight” rating in a report on Friday, October 27th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $81.00.

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Blueprint Medicines Trading Down 3.8 %

Shares of Blueprint Medicines stock opened at $74.20 on Thursday. The stock has a fifty day simple moving average of $82.57 and a 200 day simple moving average of $63.88. Blueprint Medicines has a 12-month low of $37.82 and a 12-month high of $94.00. The company has a market capitalization of $4.51 billion, a P/E ratio of -8.07 and a beta of 0.61. The company has a current ratio of 4.09, a quick ratio of 4.01 and a debt-to-equity ratio of 1.03.

Insider Activity

In other news, insider Ariel Hurley sold 714 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $90.00, for a total value of $64,260.00. Following the completion of the transaction, the insider now owns 14,324 shares in the company, valued at approximately $1,289,160. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Ariel Hurley sold 714 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $90.00, for a total transaction of $64,260.00. Following the completion of the transaction, the insider now owns 14,324 shares of the company’s stock, valued at approximately $1,289,160. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jeffrey W. Albers sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $81.91, for a total value of $2,047,750.00. Following the transaction, the director now directly owns 176,050 shares of the company’s stock, valued at approximately $14,420,255.50. The disclosure for this sale can be found here. Insiders sold a total of 51,314 shares of company stock worth $3,895,268 in the last quarter. 3.88% of the stock is owned by company insiders.

Institutional Trading of Blueprint Medicines

A number of institutional investors and hedge funds have recently modified their holdings of BPMC. Price T Rowe Associates Inc. MD increased its holdings in shares of Blueprint Medicines by 15.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,948,434 shares of the biotechnology company’s stock worth $222,631,000 after purchasing an additional 649,144 shares in the last quarter. Norges Bank bought a new stake in shares of Blueprint Medicines in the 4th quarter worth $27,778,000. Polar Capital Holdings Plc increased its holdings in shares of Blueprint Medicines by 108.0% in the 3rd quarter. Polar Capital Holdings Plc now owns 1,040,000 shares of the biotechnology company’s stock worth $52,229,000 after purchasing an additional 540,000 shares in the last quarter. State Street Corp grew its holdings in shares of Blueprint Medicines by 30.9% in the first quarter. State Street Corp now owns 2,266,894 shares of the biotechnology company’s stock worth $144,809,000 after acquiring an additional 535,424 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of Blueprint Medicines in the fourth quarter worth $23,195,000.

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 indolent SM and other mast cell disorders; and Fisogatinib.

Further Reading

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

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