Blueprint Medicines Corp (NASDAQ:BPMC) – Analysts at Svb Leerink decreased their FY2023 earnings per share estimates for Blueprint Medicines in a research report issued on Tuesday, February 26th. Svb Leerink analyst A. Berens now forecasts that the biotechnology company will post earnings per share of $9.56 for the year, down from their prior forecast of $9.62.
Blueprint Medicines (NASDAQ:BPMC) last posted its earnings results on Tuesday, February 26th. The biotechnology company reported ($1.83) EPS for the quarter, missing the consensus estimate of ($1.76) by ($0.07). The firm had revenue of $1.03 million during the quarter, compared to the consensus estimate of $1.77 million. Blueprint Medicines had a negative net margin of 455.15% and a negative return on equity of 36.72%. Blueprint Medicines’s revenue for the quarter was down 36.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.23) earnings per share.
A number of other brokerages also recently issued reports on BPMC. Wedbush restated an “outperform” rating on shares of Blueprint Medicines in a research report on Tuesday. Cowen restated a “buy” rating on shares of Blueprint Medicines in a research report on Tuesday. BidaskClub upgraded Blueprint Medicines from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 31st. Zacks Investment Research downgraded Blueprint Medicines from a “hold” rating to a “sell” rating in a research report on Tuesday, January 15th. Finally, ValuEngine downgraded Blueprint Medicines from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $103.25.
Blueprint Medicines stock opened at $78.71 on Thursday. The company has a quick ratio of 10.05, a current ratio of 10.05 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of -20.08 and a beta of 1.61. Blueprint Medicines has a 12 month low of $44.58 and a 12 month high of $109.00.
Institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. grew its stake in Blueprint Medicines by 26.6% during the third quarter. Russell Investments Group Ltd. now owns 26,253 shares of the biotechnology company’s stock worth $2,049,000 after purchasing an additional 5,520 shares during the period. Public Employees Retirement Association of Colorado grew its stake in Blueprint Medicines by 56.7% during the third quarter. Public Employees Retirement Association of Colorado now owns 4,718 shares of the biotechnology company’s stock worth $368,000 after purchasing an additional 1,708 shares during the period. Victory Capital Management Inc. grew its stake in Blueprint Medicines by 3.4% during the third quarter. Victory Capital Management Inc. now owns 454,562 shares of the biotechnology company’s stock worth $35,482,000 after purchasing an additional 15,080 shares during the period. Comerica Bank acquired a new stake in Blueprint Medicines during the third quarter worth approximately $729,000. Finally, Wells Fargo & Company MN grew its stake in Blueprint Medicines by 65.1% during the third quarter. Wells Fargo & Company MN now owns 32,718 shares of the biotechnology company’s stock worth $2,554,000 after purchasing an additional 12,903 shares during the period. Institutional investors own 99.99% of the company’s stock.
About Blueprint Medicines
Blueprint Medicines Corporation, a biopharmaceutical company, develops drugs of small molecule kinase inhibitors that target genomic drivers in various cancers and a rare genetic disease. Its lead drug candidates include avapritinib, which is in Phase I clinical trials that targets KIT Exon 17 mutant proteins and PDGFRa D842V mutations, that are drivers of cancer and proliferative disorders, including gastrointestinal stromal tumors and systemic mastocytosis; and BLU-554, which is in Phase I clinical trials an orally available, potent, and irreversible inhibitor of the kinase FGFR4 that is activated in a defined subset of patients with hepatocellular carcinoma.