Blueprint Medicines Corp (NASDAQ: BPMC) stock jumped 1.66% on Friday to $63.66 against a previous-day closing price of $62.62. With 0.89 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.62 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $64.92 whereas the lowest price it dropped to was $63.07. The 52-week range on BPMC shows that it touched its highest point at $68.00 and its lowest point at $37.82 during that stretch. It currently has a 1-year price target of $79.50. Beta for the stock currently stands at 0.63.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BPMC was up-trending over the past week, with a rise of 8.17%, but this was up by 38.21% over a month. Three-month performance surged to 25.93% while six-month performance rose 16.30%. The stock gained 49.61% in the past year, while it has gained 45.31% so far this year. A look at the trailing 12-month EPS for BPMC yields -9.20 with Next year EPS estimates of -5.67. For the next quarter, that number is -2.04. This implies an EPS growth rate of 7.55% for this year and 34.36% for next year.
Float and Shares Shorts:
At present, 59.96 million BPMC shares are outstanding with a float of 59.53 million shares on hand for trading. On Oct 30, 2023, short shares totaled 4.45 million, which was 7.32% higher than short shares on Sep 28, 2023. In addition to Ms. Kathryn Haviland as the firm’s President, CEO & Director, Mr. Alexis A. Borisy A.M. serves as its Co-Founder & Director.
Through their ownership of 107.13% of BPMC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 68.47% of BPMC, in contrast to 36.69% held by mutual funds. Shares owned by individuals account for 10.55%. As the largest shareholder in BPMC with 9.53% of the stake, The Vanguard Group, Inc. holds 5,790,770 shares worth 5,790,770. A second-largest stockholder of BPMC, T. Rowe Price Associates, Inc., holds 5,419,997 shares, controlling over 8.92% of the firm’s shares. Wellington Management Co. LLP is the third largest shareholder in BPMC, holding 5,080,521 shares or 8.36% stake. With a 3.91% stake in BPMC, the Vanguard Health Care Fund is the largest stakeholder. A total of 2,379,137 shares are owned by the mutual fund manager. The T Rowe Price New Horizons Fund, which owns about 3.45% of BPMC stock, is the second-largest Mutual Fund holder. It holds 2,099,006 shares valued at 123.55 million. Vanguard Total Stock Market ETF holds 3.13% of the stake in BPMC, owning 1,905,044 shares worth 112.13 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BPMC since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With BPMC analysts setting a high price target of $114.00 and a low target of $50.00, the average target price over the next 12 months is $79.50. Based on these targets, BPMC could surge 79.08% to reach the target high and fall by -21.46% to reach the target low. Reaching the average price target will result in a growth of 24.88% from current levels.
Summary of Insider Activity:
Insiders traded BPMC stock several times over the past three months with 4 Buys and 8 Sells. In these transactions, 50,000 shares were bought while 54,369 shares were sold. The number of buy transactions has increased to 27 while that of sell transactions has risen to 35 over the past year. The total number of shares bought during that period was 256,475 while 115,959 shares were sold.