Trade Report: The Blueprint Medicines Corp. (BPMC) Shares Down 2.4% Following Insider Selling

The Blueprint Medicines Corp. (BPMC)  Shares Down 2.4%  Following Insider Selling

Shares of Blueprint Medicines Corp. (NASDAQ:BPMC) dropped 2.4% on Monday after an insider sold shares in the company. The company traded as low as $28.20 and last traded at $29.04, with a volume of 238,487 shares traded. The stock had previously closed at $29.75.

Specifically, Director Daniel Lynch sold 21,800 shares of the business’s stock in a transaction on Thursday, October 13th. The stock was sold at an average price of $30.02, for a total value of $654,436.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeffrey W. Albers sold 17,000 shares of the business’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $22.86, for a total value of $388,620.00. Following the completion of the transaction, the chief executive officer now directly owns 76,494 shares in the company, valued at approximately $1,748,652.84. The disclosure for this sale can be found here. Corporate insiders own 3.93% of the company’s stock.

Several research analysts have weighed in on BPMC shares. Zacks Investment Research raised Blueprint Medicines Corp. from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Thursday, August 11th. Cowen and Company reissued a “buy” rating on shares of Blueprint Medicines Corp. in a research report on Tuesday, August 9th. Canaccord Genuity started coverage on Blueprint Medicines Corp. in a research report on Friday, August 5th. They set a “buy” rating and a $26.00 price target on the stock. TheStreet raised Blueprint Medicines Corp. from a “sell” rating to a “hold” rating in a research report on Friday, July 29th. Finally, Wedbush reaffirmed an “outperform” rating and set a $41.00 price target on shares of Blueprint Medicines Corp. in a research report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. Blueprint Medicines Corp. presently has an average rating of “Buy” and an average target price of $30.00.

The stock’s 50 day moving average price is $28.13 and its 200-day moving average price is $21.91. The company’s market cap is $786.86 million.

Blueprint Medicines Corp. (NASDAQ:BPMC) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($0.70) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.73) by $0.03. Blueprint Medicines Corp. had a negative return on equity of 46.01% and a negative net margin of 284.85%. The company earned $7.07 million during the quarter, compared to analyst estimates of $4.41 million. During the same quarter last year, the company earned ($0.81) EPS. The firm’s revenue for the quarter was up 163.0% on a year-over-year basis. Equities research analysts anticipate that Blueprint Medicines Corp. will post ($3.05) earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Group LTD raised its position in Blueprint Medicines Corp. by 160.8% in the second quarter. BlackRock Group LTD now owns 6,992 shares of the company’s stock worth $141,000 after buying an additional 4,311 shares during the period. BlackRock Advisors LLC raised its position in Blueprint Medicines Corp. by 96.1% in the second quarter. BlackRock Advisors LLC now owns 8,245 shares of the company’s stock worth $167,000 after buying an additional 4,040 shares during the period. American International Group Inc. raised its position in Blueprint Medicines Corp. by 110.0% in the second quarter. American International Group Inc. now owns 11,520 shares of the company’s stock worth $233,000 after buying an additional 6,034 shares during the period. Nationwide Fund Advisors raised its position in Blueprint Medicines Corp. by 114.0% in the second quarter. Nationwide Fund Advisors now owns 12,969 shares of the company’s stock worth $263,000 after buying an additional 6,909 shares during the period. Finally, Fernwood Investment Management LLC bought a new position in Blueprint Medicines Corp. during the second quarter worth $285,000. 73.65% of the stock is owned by institutional investors.

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