Traders Buy Large Volume of Call Options on Blueprint Medicines (BPMC)

Blueprint Medicines Corporation (NASDAQ:BPMC) was the target of some unusual options trading on Tuesday. Traders bought 1,093 call options on the company. This is an increase of approximately 1,201% compared to the average volume of 84 call options.

In related news, CEO Jeffrey W. Albers sold 30,000 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $70.31, for a total transaction of $2,109,300.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Marion Dorsch sold 18,334 shares of the stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $65.45, for a total value of $1,199,960.30. Following the sale, the insider now directly owns 18,334 shares in the company, valued at approximately $1,199,960.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 72,639 shares of company stock worth $4,871,743. Corporate insiders own 3.40% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rockefeller Financial Services Inc. acquired a new position in shares of Blueprint Medicines in the 3rd quarter valued at about $160,000. Ameritas Investment Partners Inc. lifted its stake in shares of Blueprint Medicines by 68.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,410 shares of the biotechnology company’s stock valued at $173,000 after purchasing an additional 1,391 shares in the last quarter. Fred Alger Management Inc. acquired a new position in shares of Blueprint Medicines in the 2nd quarter valued at about $203,000. SG Americas Securities LLC lifted its stake in shares of Blueprint Medicines by 23.3% in the 2nd quarter. SG Americas Securities LLC now owns 4,113 shares of the biotechnology company’s stock valued at $208,000 after purchasing an additional 778 shares in the last quarter. Finally, Turner Investments LLC acquired a new position in shares of Blueprint Medicines in the 3rd quarter valued at about $209,000. 91.40% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have issued reports on BPMC shares. BidaskClub lowered Blueprint Medicines from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 19th. Wedbush reissued an “outperform” rating and issued a $66.00 price target on shares of Blueprint Medicines in a research note on Tuesday, August 22nd. Jefferies Group reissued a “buy” rating and issued a $56.00 price target on shares of Blueprint Medicines in a research note on Tuesday, September 5th. Canaccord Genuity reissued a “buy” rating and issued a $56.00 price target on shares of Blueprint Medicines in a research note on Monday, September 11th. Finally, Goldman Sachs Group reissued a “buy” rating and issued a $79.00 price target (up from $64.00) on shares of Blueprint Medicines in a research note on Wednesday, September 20th. Two analysts have rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $83.78.

Shares of Blueprint Medicines (BPMC) opened at $75.33 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 11.28 and a quick ratio of 11.28. Blueprint Medicines has a 52 week low of $25.34 and a 52 week high of $92.00.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.06). The firm had revenue of $8.07 million during the quarter, compared to analyst estimates of $5.35 million. Blueprint Medicines had a negative net margin of 437.83% and a negative return on equity of 43.11%. The business’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.62) earnings per share. research analysts predict that Blueprint Medicines will post -3.76 EPS for the current year.

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About Blueprint Medicines

Blueprint Medicines Corporation is a biopharmaceutical company. The Company focuses on patients with genomically defined diseases driven by abnormal kinase activation. It focuses on crafting drug candidates that provide clinical responses to patients without adequate treatment options. It has developed a small molecule drug pipeline in cancer and a genetic disease.

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