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

Blueprint Medicines Co. (NASDAQ:BPMC) – Analysts at Leerink Partnrs issued their Q2 2024 EPS estimates for Blueprint Medicines in a research note issued to investors on Monday, May 6th. Leerink Partnrs analyst A. Berens anticipates that the biotechnology company will earn ($1.10) per share for the quarter. Leerink Partnrs currently 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 issued its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.04) by $0.22. The company had revenue of $71.96 million during the quarter, compared to the consensus estimate of $67.34 million. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 193.48%. Blueprint Medicines’s revenue for the quarter was up 85.5% on a year-over-year basis. During the same quarter last year, the company earned ($2.65) earnings per share.

Several other research analysts have also recently commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $97.00 price target on shares of Blueprint Medicines in a research note on Thursday, May 2nd. The Goldman Sachs Group increased their target price on Blueprint Medicines from $121.00 to $168.00 and gave the company a “buy” rating in a research note on Monday. Citigroup lifted their price target on shares of Blueprint Medicines from $65.00 to $76.00 and gave the stock a “sell” rating in a research note on Friday, May 3rd. Piper Sandler raised their price objective 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. Finally, Wedbush reiterated an “outperform” rating and issued a $110.00 price target on shares of Blueprint Medicines in a research note on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $100.31.

Blueprint Medicines Stock Performance

Shares of BPMC stock opened at $108.55 on Wednesday. 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 company’s fifty day moving average price is $92.17 and its two-hundred day moving average price is $81.81. The firm has a market capitalization of $6.64 billion, a P/E ratio of -22.57 and a beta of 0.65. Blueprint Medicines has a 12 month low of $43.89 and a 12 month high of $110.93.

Insider Buying and Selling

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 25,073 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $87.28, for a total value of $2,188,371.44. Following the completion of the transaction, the director now owns 176,050 shares in the company, valued at approximately $15,365,644. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Jeffrey W. Albers sold 25,073 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $87.28, for a total transaction of $2,188,371.44. Following the completion of the transaction, the director now directly owns 176,050 shares in the company, valued at $15,365,644. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael Landsittel sold 13,734 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $87.78, for a total value of $1,205,570.52. Following the completion of the sale, the chief financial officer now owns 47,286 shares in the company, valued at $4,150,765.08. The disclosure for this sale can be found here. Insiders have sold a total of 104,123 shares of company stock valued at $9,554,679 in the last quarter. Company insiders own 3.88% of the company’s stock.

Hedge Funds Weigh In On Blueprint Medicines

Several large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its holdings in shares of Blueprint Medicines by 63.4% in the third quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock valued at $43,000 after acquiring an additional 329 shares in the last quarter. Cutler Group LLC CA grew its position in Blueprint Medicines by 1,685.7% in the third quarter. Cutler Group LLC CA now owns 1,000 shares of the biotechnology company’s stock worth $50,000 after buying an additional 944 shares during the last quarter. Headlands Technologies LLC increased its holdings in shares of Blueprint Medicines by 105.2% in the first quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock valued at $63,000 after buying an additional 342 shares in the last quarter. Compass Wealth Management LLC acquired a new stake in shares of Blueprint Medicines during the 4th quarter valued at $69,000. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of Blueprint Medicines by 95.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,550 shares of the biotechnology company’s stock worth $78,000 after acquiring an additional 757 shares in the last quarter.

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.