It is trading at $53.69 slightly over the 50 day moving average which is $40.85 and just above the 200 day moving average of $37.90. The 50 day moving average was up by +31.453% and the 200 day average was up $15.80. Blueprint Medicines Corporation shares had a trading volume of 432K by the end of trading on Thursday. Volume was up 35.66% over the stocks average daily volume.
Investors are more bearish on shares of the company of late if you watch the uptick in short interest. The stock realized a rise in short interest from June 15, 2017 to May 31, 2017 of 13.69%. Short interest increased from 1,526,236 to 1,735,205 over that period. With short interest at 1,735,205 and short average daily volume at 505,859, days to cover is 3.4 and the percentage of shorted shares was 0.05% on May 31.
There has been some selling insider activity on Blueprint Medicines Corporation (NASDAQ:BPMC) recently. Chief Medical Officer Anthony L. Boral sold 10,000 shares at an average price of $50.11 on Wed the 28th. That brings the Chief Medical Officer’s holdings to $0 as reported to the SEC. Daniel Lynch, Director sold $1,629,225 worth of shares at an average price of $50.13 on June 28th. Lynch now owns $10,995,614 of stock per an SEC filing yesterday.
CEO Jeffrey W. Albers let go of 20,000 shares at an average price of $50.18 on Wed the 28th. That brings Albers’s holdings to $1,780,687 as recorded in a recent Form 4 SEC filing.
Here are a few additional firms who have increased or decreased their stake in (BPMC). Creative Planning trimmed its stake by selling 500 shares a decrease of 83.3% from 03/31/2017 to 06/30/2017. Creative Planning currently owns 100 shares valued at $5,000. The value of the position overall is down by 79.2%. Morgan Stanley augmented its investment by buying 4,310 shares an increase of 836.9% as of 03/31/2017. Morgan Stanley now holds 4,825 shares with a value of $193,000. The total value of its holdings increased 1,278.6%.
As of the end of the quarter Goldman Sachs Group Inc had disposed of 2,782 shares trimming its stake by 4.3%. The value of the total investment in Blueprint Medicines Corporation went from $1,831,000 to $2,500,000 increasing 36.5% since the last quarter. Driehaus Capital Management LLC cut its position by shedding 169,934 shares a decrease of 16.0% in the quarter. Driehaus Capital Management LLC controls 891,691 shares worth $35,659,000. The value of the position overall is up by 19.7%.
On May 27, 2016 Raymond James initiated coverage on BPMC by announcing an initial rating of “Outperform”. On March 9 JMP Securities kept the company rating at “Market Outperform” and lowered the price expectation to $37.00 from $54.00.
Equity analyst Wedbush released its first research report on the stock with an initial rating of “Outperform” and price target of $41.00. On May 26 analysts at Cowen & Company began coverage setting a rating of “Outperform”.
JMP Securities initiated coverage on the stock giving it an initial rating of “Market Outperform” and a price target of $54.00.
The company is down from yesterday’s close of $53.89. As of the last earnings report the EPS was $-2.93 and is projected to be $-3.32 for the current year with 33,249,000 shares now outstanding. Next quarter’s EPS is expected be $-0.82 with next year’s EPS projected to be $-4.07.
Blueprint Medicines Corporation, launched on October 14, 2008, is a biopharmaceutical company. The Company focuses on patients with genomically defined diseases driven by abnormal kinase activation. The Company focuses on crafting drug candidates that provide clinical responses to patients without adequate treatment options. The Company has developed a small molecule drug pipeline in cancer and a genetic disease. The Business’s drug candidate, BLU-285, targets KIT, including Exon 17 mutations, and targets PDGFRa, including the D842V mutation. These mutations activate receptor tyrosine kinases that are drivers of cancer and proliferative disorders, including gastrointestinal stromal tumors (GIST), and systemic mastocytosis (SM). Its drug candidate BLU-554 targets FGFR4, a kinase that is activated in a defined subset of patients with hepatocellular carcinoma (HCC), the common type of liver cancer..