Blueprint Medicines Sees Unusually High Options Volume (NASDAQ:BPMC)

Blueprint Medicines Co. (NASDAQ:BPMC) was the recipient of unusually large options trading activity on Friday. Stock investors purchased 3,146 call options on the company. This is an increase of approximately 557% compared to the average volume of 479 call options.

Analysts Set New Price Targets

Several analysts have commented on BPMC shares. Citigroup lifted their price objective on shares of Blueprint Medicines from $65.00 to $76.00 and gave the company a “sell” rating in a research note on Friday, May 3rd. JMP Securities reaffirmed a “market outperform” rating and issued a $125.00 price target on shares of Blueprint Medicines in a report on Friday, June 7th. StockNews.com upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Piper Sandler upped their target price on Blueprint Medicines from $78.00 to $104.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Finally, Wedbush reiterated an “outperform” rating and set a $110.00 price target on shares of Blueprint Medicines in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $110.20.

Blueprint Medicines Price Performance

Shares of NASDAQ BPMC opened at $107.78 on Friday. The stock has a market capitalization of $6.75 billion, a price-to-earnings ratio of -22.41 and a beta of 0.70. Blueprint Medicines has a 52 week low of $43.89 and a 52 week high of $111.42. The firm has a 50-day simple moving average of $103.28 and a 200-day simple moving average of $92.64. The company has a quick ratio of 3.61, a current ratio of 3.76 and a debt-to-equity ratio of 0.67.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Thursday, May 2nd. The biotechnology company reported ($1.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.64) by $0.32. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 193.48%. The business had revenue of $96.12 million for the quarter, compared to analyst estimates of $82.58 million. On average, equities analysts predict that Blueprint Medicines will post -5.15 earnings per share for the current fiscal year.

Insider Transactions at Blueprint Medicines

In other news, CFO Michael Landsittel sold 10,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $105.00, for a total transaction of $1,050,000.00. Following the transaction, the chief financial officer now directly owns 47,286 shares of the company’s stock, valued at $4,965,030. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Blueprint Medicines news, insider Percy H. Carter sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $105.13, for a total transaction of $420,520.00. Following the sale, the insider now owns 41,895 shares of the company’s stock, valued at approximately $4,404,421.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael Landsittel sold 10,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $105.00, for a total transaction of $1,050,000.00. Following the completion of the transaction, the chief financial officer now directly owns 47,286 shares of the company’s stock, valued at approximately $4,965,030. The disclosure for this sale can be found here. Insiders have sold a total of 128,898 shares of company stock valued at $13,510,865 in the last 90 days. Insiders own 4.21% of the company’s stock.

Institutional Investors Weigh In On Blueprint Medicines

Several hedge funds and other institutional investors have recently bought and sold shares of BPMC. Rhumbline Advisers lifted its stake in shares of Blueprint Medicines by 1.6% in the 3rd quarter. Rhumbline Advisers now owns 85,202 shares of the biotechnology company’s stock valued at $4,279,000 after purchasing an additional 1,332 shares during the last quarter. Northern Trust Corp increased its position in shares of Blueprint Medicines by 0.5% during the third quarter. Northern Trust Corp now owns 588,460 shares of the biotechnology company’s stock valued at $29,552,000 after acquiring an additional 2,763 shares during the last quarter. Algert Global LLC purchased a new stake in shares of Blueprint Medicines in the 3rd quarter valued at approximately $299,000. Nomura Holdings Inc. acquired a new position in shares of Blueprint Medicines in the 3rd quarter worth approximately $527,000. Finally, Corton Capital Inc. boosted its position in shares of Blueprint Medicines by 44.5% during the 3rd quarter. Corton Capital Inc. now owns 6,834 shares of the biotechnology company’s stock worth $343,000 after purchasing an additional 2,103 shares during the period.

About Blueprint Medicines

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.