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Why Is Blueprint Medicines (BPMC) Up 1.4% Since Last Earnings Report?

Zacks Equity Research

It has been about a month since the last earnings report for Blueprint Medicines (BPMC). Shares have added about 1.4% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is Blueprint Medicines due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.

Blueprint Medicines Q3 Earnings & Sales Top Estimates

Blueprint Medicines incurred a loss of $1.93 per share in the third quarter of 2019, narrower than the Zacks Consensus Estimate of a loss of $2.19 but wider than the year-ago quarter’s loss of $1.66.

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Collaboration revenues, comprising the company’s total revenues, came in at $9.1 million, reflecting a significant rise year over year. The top line also surpassed the Zacks Consensus Estimate of $4 million.

Blueprint Medicines has no approved product in its portfolio at the moment. Revenues generated by the company are all related to its partnership with Roche and CStone Pharmaceuticals for the development and commercialization of its pipeline candidates.

Quarter in Detail

In the quarter, research and development expenses were $81.5 million, up 26.2% from the year-ago figure, mainly due to higher spending associated with the lead candidates’ development and increased personnel costs.

General and administrative expenses were $25.6 million, up 33.3% year over year on account of higher personnel costs, professional fees and pre-commercial planning activities.

Blueprint Medicines had cash, cash equivalents and marketable securities of $594.5 million as of Sep 30, 2019, lower than the sequential quarter’s $667.3 million.

How Have Estimates Been Moving Since Then?

It turns out, estimates revision have trended upward during the past month. The consensus estimate has shifted 21.93% due to these changes.

VGM Scores

At this time, Blueprint Medicines has a poor Growth Score of F, however its Momentum Score is doing a lot better with an A. However, the stock was allocated a grade of F on the value side, putting it in the bottom 20% quintile for this investment strategy.

Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Blueprint Medicines has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.


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