What’s Next for Blueprint Medicines Corporation (NASDAQ:BPMC) After Having Less Shares Shorted?

May 18, 2018 - By Vivian Park

Blueprint Medicines Corporation (NASDAQ:BPMC) Logo

The stock of Blueprint Medicines Corporation (NASDAQ:BPMC) registered a decrease of 0.87% in short interest. BPMC’s total short interest was 1.98M shares in May as published by FINRA. Its down 0.87% from 2.00M shares, reported previously. With 463,500 shares average volume, it will take short sellers 4 days to cover their BPMC’s short positions. The short interest to Blueprint Medicines Corporation’s float is 5.6%.

The stock increased 1.40% or $1.145 during the last trading session, reaching $83.045. About 19,480 shares traded. Blueprint Medicines Corporation (NASDAQ:BPMC) has risen 101.73% since May 18, 2017 and is uptrending. It has outperformed by 90.18% the S&P500.

Blueprint Medicines Corporation, a biopharmaceutical company, develops drugs of small molecule kinase inhibitors that target genomic drivers in various cancers and rare genetic diseases. The company has market cap of $3.64 billion. The Company’s lead drug candidates include BLU-285, which is in Phase I clinical trials that targets KIT Exon 17 mutant proteins and PDGFRa D842V, abnormally active receptor tyrosine kinases for patients with systemic mastocytosis, a disorder of the mast cells, and defined subsets of patients with gastrointestinal stromal tumor; and BLU-554, which is in Phase I clinical trials an orally available, potent, selective, and irreversible inhibitor of the kinase FGFR4 that is activated in a defined subset of patients with hepatocellular carcinoma. It currently has negative earnings. It is also developing BLU-667, a drug candidate that targets RET, a receptor tyrosine kinase that is abnormally activated by mutations or translocations; and RET resistant mutants that would arise from treatment with first generation therapies, as well as candidates as inhibitors of neurotrophic tyrosine receptor kinase and predicted NTRK resistant mutants.

Blueprint Medicines Corporation (NASDAQ:BPMC) Ratings Coverage

Among 7 analysts covering Blueprint Medicines (NASDAQ:BPMC), 7 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Blueprint Medicines had 8 analyst reports since December 10, 2017 according to SRatingsIntel. The stock of Blueprint Medicines Corporation (NASDAQ:BPMC) has “Buy” rating given on Monday, April 16 by Canaccord Genuity. The stock of Blueprint Medicines Corporation (NASDAQ:BPMC) has “Buy” rating given on Monday, April 16 by Wedbush. The company was maintained on Monday, April 16 by JMP Securities. Canaccord Genuity maintained Blueprint Medicines Corporation (NASDAQ:BPMC) rating on Thursday, May 3. Canaccord Genuity has “Buy” rating and $10500 target. The rating was maintained by Jefferies on Friday, December 22 with “Buy”. Goldman Sachs upgraded the shares of BPMC in report on Monday, December 11 to “Buy” rating. The stock of Blueprint Medicines Corporation (NASDAQ:BPMC) earned “Buy” rating by BTIG Research on Wednesday, May 2.

More important recent Blueprint Medicines Corporation (NASDAQ:BPMC) news were published by: Streetinsider.com which released: “Blueprint Medicines (BPMC) Announces Data Presentations at Upcoming ASCO and EHA Meetings” on May 17, 2018, also Streetinsider.com published article titled: “Blueprint Medicines (BPMC) option implied volatility elevated into reporting data on its RET inhibitor BLU-667 at a …”, Benzinga.com published: “32 Stocks Moving In Thursday’s Mid-Day Session” on May 17, 2018. More interesting news about Blueprint Medicines Corporation (NASDAQ:BPMC) was released by: Streetinsider.com and their article: “Omega’s 13F Shows Increase in Ocwen (OCN), Synchrony (SYF), United (UAL), Exits Zynga (ZNGA) (More…)” with publication date: May 15, 2018.

Blueprint Medicines Corporation (NASDAQ:BPMC) Ratings Chart

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