Shares are trading at $66.38 just above the 50 day moving average of $62.32 and quite a bit higher than the 200 day moving average of $50.23. The 50 day moving average was up $4.06 and the 200 day average moved up $16.15. (NASDAQ:BPMC) shares saw heavy trading volume with 344K shares changing hands by the end of trading on Tuesday. Shares saw a steep increase in trading volume of 7.95% over the normal average daily volume.
Investors are more bullish on shares of Blueprint Medicines Corporation of late if you take note of the downtick in short interest. The company had a fall in short interest from September 15, 2017 to September 29, 2017 of -12.68%. Short shares decreased 300,455 over that period. With short interest at 2,068,582 and short average daily volume at 402,649, the short-interest ratio is 5.0 and the short interest percentage is 0.05% as of September 29.
There has been some selling insider activity on Blueprint Medicines Corporation (NASDAQ:BPMC) recently. CEO Jeffrey W. Albers sold 30,000 shares at a price of $49.40 on Tue the 8th. That brings the CEO’s holdings to $271,008 as reported to the SEC.
These funds have shifted positions in (BPMC). Point72 Asset Management, L.p. added to its ownership by buying 295,108 shares an increase of 286.5% in the quarter. Point72 Asset Management, L.p. now holds 398,108 shares with a value of $20,172,000. The value of the position overall is up by 389.7%. Foresite Capital Management Iii, LLC bolstered its stake by buying 199,600 shares an increase of 76.7%. Foresite Capital Management Iii, LLC controls 460,000 shares valued at $23,308,000. The total value of its holdings increased 123.8%.
Cutler Group LP augmented its position by buying 200 shares an increase of 100.0% from 06/30/2017 to 09/30/2017. Cutler Group LP currently owns 400 shares worth $10,000. The value of the position overall is up by inf%. Meeder Asset Management Inc grew its holdings by buying 5 shares an increase of 11.6% as of 09/30/2017. Meeder Asset Management Inc now controls 48 shares worth $3,000. The value of the position overall is up by 50.0%.
On September 20 Canaccord Genuity left the company rating at “Buy” and raised the price expectation to $66.00 from $56.00. DA Davidson initiated coverage on the stock giving it an initial rating of “Buy”.
As of the last earnings report the EPS was $-3.12 and is expected to be $-3.66 for the current year with 39,122,000 shares presently outstanding. Next quarter’s EPS is estimated at $-1.05 with next year’s EPS projected to be $-4.41.
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..