Blueprint Medicines Co. (NASDAQ:BPMC) Expected to Post Q2 2024 Earnings of ($1.10) Per Share

Blueprint Medicines Co. (NASDAQ:BPMC) – Stock analysts at Leerink Partnrs issued their Q2 2024 earnings per share (EPS) estimates for shares of Blueprint Medicines in a research report issued to clients and investors on Monday, May 6th. Leerink Partnrs analyst A. Berens forecasts that the biotechnology company will post earnings of ($1.10) per share for the quarter. Leerink Partnrs has a “Market Perform” rating on the stock. The consensus estimate for Blueprint Medicines’ current full-year earnings is ($5.38) per share. Leerink Partnrs also issued estimates for Blueprint Medicines’ Q3 2024 earnings at ($0.87) EPS, Q4 2024 earnings at ($0.57) EPS, FY2024 earnings at ($3.82) EPS, FY2025 earnings at $1.71 EPS and FY2026 earnings at $4.42 EPS.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.04) by $0.22. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 193.48%. The firm had revenue of $71.96 million during the quarter, compared to the consensus estimate of $67.34 million. During the same quarter in the previous year, the firm posted ($2.65) EPS. The business’s revenue for the quarter was up 85.5% compared to the same quarter last year.

A number of other research analysts have also recently commented on the company. Stifel Nicolaus raised their price target on Blueprint Medicines from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Wedbush restated an “outperform” rating and issued a $110.00 target price on shares of Blueprint Medicines in a research report on Friday, April 26th. The Goldman Sachs Group increased their price target on shares of Blueprint Medicines from $121.00 to $168.00 and gave the stock a “buy” rating in a research report on Monday. HC Wainwright upped their price objective on Blueprint Medicines from $125.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, Piper Sandler upped their price target on shares of Blueprint Medicines from $78.00 to $104.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $100.31.

Blueprint Medicines Trading Up 2.2 %

Shares of NASDAQ:BPMC opened at $108.55 on Wednesday. The company has a market capitalization of $6.64 billion, a P/E ratio of -22.57 and a beta of 0.65. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.76 and a quick ratio of 3.61. The business’s 50 day simple moving average is $92.17 and its 200 day simple moving average is $81.81. Blueprint Medicines has a 1 year low of $43.89 and a 1 year high of $110.93.

Insiders Place Their Bets

In other news, insider Christopher K. Murray sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $100.00, for a total transaction of $500,000.00. Following the completion of the sale, the insider now owns 24,495 shares of the company’s stock, valued at approximately $2,449,500. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Blueprint Medicines news, insider Christopher K. Murray sold 5,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $100.00, for a total value of $500,000.00. Following the completion of the sale, the insider now directly owns 24,495 shares in the company, valued at $2,449,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider L. Becker Hewes sold 3,097 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $90.69, for a total transaction of $280,866.93. Following the transaction, the insider now owns 46,281 shares in the company, valued at approximately $4,197,223.89. The disclosure for this sale can be found here. Over the last three months, insiders sold 104,123 shares of company stock worth $9,554,679. 3.88% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Blueprint Medicines

Large investors have recently modified their holdings of the company. Bank of New York Mellon Corp lifted its stake in shares of Blueprint Medicines by 1.6% in the third quarter. Bank of New York Mellon Corp now owns 266,744 shares of the biotechnology company’s stock valued at $13,396,000 after buying an additional 4,127 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Blueprint Medicines by 9.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,055 shares of the biotechnology company’s stock valued at $605,000 after purchasing an additional 1,052 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Blueprint Medicines by 4.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,269 shares of the biotechnology company’s stock worth $1,872,000 after purchasing an additional 1,417 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its stake in shares of Blueprint Medicines by 12.3% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 464,321 shares of the biotechnology company’s stock worth $23,318,000 after purchasing an additional 50,994 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in shares of Blueprint Medicines by 65.2% in the third quarter. TD Asset Management Inc now owns 316,304 shares of the biotechnology company’s stock valued at $15,885,000 after purchasing an additional 124,792 shares in the last quarter.

Blueprint Medicines Company Profile

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.