Blueprint Medicines Corporation
Description
Blueprint Medicines Corporation, a precision therapy company, develops medicines for genomically defined cancers and blood disorders in the United States and internationally. The company is developing AYVAKIT for the treatment of systemic mastocytosis (SM) and gastrointestinal stromal tumors; BLU-263, an orally available, potent, and KIT inhibitor for the treatment of indolent SM, and other mast cell disorders. It is also developing GAVRETO for the treatment of RET fusion-positive non-small cell lung cancer, altered thyroid carcinoma, and medullary thyroid carcinoma; BLU-945 for the treatment of epidermal growth factor receptor driven non-small-cell lung carcinoma (NSCLC); and BLU-451 to treat NSCLC in patients with epidermal growth factor receptor gene (EGFR) exon 20 insertion mutations. In addition, the company is developing BLU-782, for the treatment of fibrodysplasia ossificans progressive; BLU- 222 to treat patients with cyclin E aberrant cancers; and BLU-852 for the treatment of advanced cancers. It has collaboration and license agreements with Clementia Pharmaceuticals, Inc.; Proteovant Therapeutics; CStone Pharmaceuticals; Genentech, Inc.; Hoffmann-La Roche Inc.; and Zai Lab (Shanghai) Co., Ltd. The company was formerly known as Hoyle Pharmaceuticals, Inc. and changed its name to Blueprint Medicines Corporation in June 2011. Blueprint Medicines Corporation was incorporated in 2008 and is headquartered in Cambridge, Massachusetts.
About
Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Oct 28, 2025 | — | — | — | — |
| Jul 30, 2025 | — | — | — | — |
| Apr 30, 2025 | — | — | — | — |
| Feb 13, 2025 | -0.68 | — | — | — |
| Oct 30, 2024 | -0.97 | -0.89 | 0.08 | -8.25% |
Earnings estimate
|
Next Quarter
(Mar 2025)
|
Next Year
(Dec 2025)
|
|||
|---|---|---|---|---|
| Number of analysts | — | 6 | — | 9 |
| Average estimate | — | -0.57 | — | -0.93 |
| Low estimate | — | -0.78 | — | -2.84 |
| High estimate | — | -0.40 | — | 2.92 |
| Last year EPS | — | -1.32 | — | -1.33 |
Growth estimates
Analyst Ratings
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| Jan 27, 2025 |
Piper Sandler
Christopher Raymond
|
Maintains | Neutral | ▲ Raises $109 → $119 |
| Jan 15, 2025 |
JMP Securities
Reni Benjamin
|
Reiterates | Market Outperform | Maintains $125 |
| Jan 13, 2025 |
Wedbush
David Nierengarten
|
Reiterates | Outperform | ▼ Lowers $135 → $124 |
| Jan 13, 2025 |
Needham
Ami Fadia
|
Reiterates | Buy | Maintains $135 |
| Jan 2, 2025 |
Stephens & Co.
|
Reiterates | Overweight | — |
| Dec 17, 2024 |
Needham
|
Reiterates | Buy | — |
| Dec 11, 2024 |
Guggenheim
Michael Schmidt
|
Reiterates | Buy | — |
| Dec 9, 2024 |
JMP Securities
Reni Benjamin
|
Reiterates | Market Outperform | Maintains $125 |
| Nov 18, 2024 |
JMP Securities
Reni Benjamin
|
Reiterates | Market Outperform | Maintains $125 |
| Nov 15, 2024 |
Needham
Ami Fadia
|
Reiterates | Buy | Maintains $135 |
| Nov 15, 2024 |
HC Wainwright & Co.
Andrew Fein
|
Reiterates | Buy | Maintains $135 |
| Nov 14, 2024 |
JP Morgan
Brian Cheng
|
Initiates | Overweight | Announces $126 |
| Oct 31, 2024 |
Wells Fargo
Derek Archila
|
Maintains | Overweight | ▼ Lowers $153 → $151 |
| Oct 31, 2024 |
Needham
Ami Fadia
|
Maintains | Buy | ▲ Raises $133 → $135 |
| Oct 31, 2024 |
HC Wainwright & Co.
Andrew Fein
|
Reiterates | Buy | Maintains $135 |
| Oct 30, 2024 |
Needham
Ami Fadia
|
Reiterates | Buy | Maintains $133 |
| Oct 24, 2024 |
UBS
David Dai
|
Initiates | Neutral | Announces $88 |
| Aug 5, 2024 |
Needham
Ami Fadia
|
Maintains | Buy | ▲ Raises $130 → $133 |
| Aug 2, 2024 |
Guggenheim
Michael Schmitz
|
Maintains | Buy | ▲ Raises $130 → $138 |
| Aug 2, 2024 |
Baird
Joel Beatty
|
Maintains | Outperform | ▲ Raises $112 → $127 |
| Aug 1, 2024 |
Needham
Ami Fadia
|
Reiterates | Buy | Maintains $130 |
| Jul 29, 2024 |
Barclays
Peter Lawson
|
Maintains | Equal-Weight | ▲ Raises $75 → $105 |
| Jul 12, 2024 |
Morgan Stanley
Michael Ulz
|
Maintains | Equal-Weight | ▲ Raises $110 → $115 |
| Jul 8, 2024 |
Oppenheimer
Matthew Biegler
|
Maintains | Outperform | ▲ Raises $114 → $125 |
| Jun 28, 2024 |
Needham
Ami Fadia
|
Reiterates | Buy | Maintains $130 |
| Jun 7, 2024 |
JMP Securities
Reni Benjamin
|
Reiterates | Market Outperform | Maintains $125 |
| May 14, 2024 |
Stephens & Co.
Sudan Loganathan
|
Initiates | Overweight | Announces $140 |
| May 6, 2024 |
Leerink Partners
Andrew Berens
|
Upgrade | Market Perform | ▲ Raises $50 → $97 |
| May 6, 2024 |
Goldman Sachs
Terence Flynn
|
Maintains | Buy | ▲ Raises $121 → $168 |
| May 3, 2024 |
Needham
Ami Fadia
|
Maintains | Buy | ▲ Raises $97 → $130 |
Income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total reported revenue | 249.38M | 204.04M | 180.08M | 793.74M | 66.51M |
| Cost of revenue | 8.54M | 17.81M | 17.93M | 425,000 | — |
| Gross profit | 240.84M | 186.22M | 162.15M | 793.31M | 66.51M |
| Operating expense | |||||
| Research & development | 427.72M | 477.42M | 601.03M | 326.86M | 331.45M |
| Selling general and admin | 295.14M | 237.37M | 195.29M | 157.74M | 96.39M |
| Other operating expenses | — | 8.95M | 7.80M | — | — |
| Operating income | -482.02M | -528.57M | -634.18M | 308.71M | -361.33M |
| Non operating interest income | |||||
| Income | — | — | — | — | — |
| Expense | — | — | — | — | — |
| Other income expense | -5.20M | -6.94M | -9.29M | -366,000 | -100,000 |
| Pretax income | -506.02M | -552.28M | -641.08M | 314.94M | -347.69M |
| Tax provision | 968,000 | 5.24M | 3.00M | 1.06M | — |
| Net income | -506.98M | -557.52M | -644.09M | 313.88M | -347.69M |
| Basic EPS | -8.37 | -9.35 | -11.01 | 5.76 | -7.27 |
| Diluted EPS | -8.37 | -9.35 | -11.01 | 5.59 | -7.27 |
| Basic average shares | 60.56M | 59.64M | 58.52M | 54.53M | 47.83M |
| Diluted average shares | 60.56M | 59.64M | 58.52M | 54.53M | 47.83M |
| EBITDA | -470.36M | -516.84M | -627.70M | 315.27M | -356.07M |
| Net income from continuing op. | -506.98M | -557.52M | -644.09M | 313.88M | -347.69M |
| Minority interests | — | — | — | — | — |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 1.05B | 1.35B | 1.25B | 1.72B | 707.69M |
| Current assets | |||||
| Cash | — | — | — | — | — |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 71.29M | 119.71M | 209.95M | 684.64M | 113.94M |
| Other short term investments | 639.36M | 825.28M | 267.17M | 187.21M | 369.62M |
| Accounts receivable | 42.83M | 23.53M | 25.16M | 7.10M | 663,000 |
| Other receivables | 351,000 | 13.41M | 11.88M | 18.21M | 22.75M |
| Inventory | 21.22M | 29.70M | 21.82M | 8.58M | — |
| Prepaid assets | — | — | 18.06M | 22.02M | 9.82M |
| Restricted cash | — | — | — | — | — |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | 33.35M | 35.02M | 18.06M | 22.02M | 9.82M |
| Non current assets | |||||
| Properties | 95.00M | 97.58M | 103.28M | 78.96M | 81.73M |
| Land and improvements | — | — | — | — | — |
| Machinery furniture equipment | 7.33M | 6.25M | 5.84M | 5.35M | 5.49M |
| Construction in progress | 9.51M | 1.61M | 213,000 | 151,000 | 956,000 |
| Leases | 42.30M | 41.05M | 36.95M | 36.95M | 36.63M |
| Accumulated depreciation | -38.49M | -31.28M | -25.42M | -19.73M | -13.68M |
| Goodwill | — | — | — | — | — |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | — | — | — | — | — |
| Investments and advances | 84.32M | 161.27M | 557.53M | 677.87M | 64.41M |
| Other non current assets | 40.89M | 26.78M | 19.81M | 11.09M | 15.39M |
| Total liabilities | 918.64M | 835.23M | 281.49M | 248.31M | 243.34M |
| Current liabilities | |||||
| Accounts payable | 4.71M | 2.73M | 8.33M | 4.37M | 4.79M |
| Accrued expenses | 67.09M | 91.33M | 88.74M | 77.35M | 75.19M |
| Short term debt | 42.21M | 27.43M | 8.09M | 7.94M | 6.82M |
| Deferred revenue | 40.01M | 21.95M | 11.51M | 12.56M | 6.16M |
| Tax payable | — | — | — | — | — |
| Pensions | 43.43M | 30.74M | 29.17M | 27.62M | 13.52M |
| Other current liabilities | — | — | — | — | — |
| Non current liabilities | |||||
| Long term debt | 290.29M | 215.02M | 103.32M | 81.67M | 89.13M |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | — | — | — | — | — |
| Derivative product liabilities | — | — | — | — | — |
| Other non current liabilities | 6.21M | 10.30M | 3.34M | 7.24M | 7.81M |
| Shareholders equity | |||||
| Common stock | 61,000 | 60,000 | 59,000 | 58,000 | 49,000 |
| Retained earnings | -2.34B | -1.83B | -1.28B | -631.36M | -945.24M |
| Other shareholders equity | -3.50M | -10.44M | -4.13M | -5.21M | -2.54M |
| Total shareholders equity | 130.61M | 514.68M | 970.74M | 1.47B | 464.36M |
| Additional paid in capital | 2.47B | 2.36B | 2.25B | 2.11B | 1.41B |
| Treasury stock | — | — | — | — | — |
| Minority interest | — | — | — | — | — |
Cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||
| Net Income | -506.98M | -557.52M | -644.09M | 313.88M | -347.69M | -236.64M | -148.12M | -72.50M | -52.77M | -40.29M | -20.91M |
| Depreciation | 11.67M | 11.74M | 6.48M | 6.56M | 5.26M | 4.25M | 1.58M | 1.58M | 948,000 | 622,000 | 501,000 |
| Deferred Taxes | — | — | — | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | 92.67M | 98.97M | 91.63M | 75.53M | 54.65M | 30.53M | 12.52M | 6.14M | 5.18M | 2.33M | 351,000 |
| Other Non-Cash Items | 24.39M | -715,000 | 269.64M | 6.22M | 4.99M | -6,000 | 32,000 | 73,000 | 109,000 | 85,000 | 26,000 |
| Accounts Receivable | -7.65M | -2.23M | -11.81M | -1.85M | -23.20M | 198,000 | 3.16M | -163,000 | -3.41M | — | — |
| Accounts Payable | 1.88M | -5.82M | 4.22M | -791,000 | 1.45M | -445,000 | 1.53M | 4,000 | 1.39M | -512,000 | 541,000 |
| Other Assets & Liabilities | -39.64M | -38.15M | -26.88M | -16.57M | -2.17M | -3.65M | 2.00M | 32.80M | 15.96M | -140,000 | -94,000 |
| Operating Cash Flow | -423.66M | -493.73M | -310.80M | 382.98M | -306.71M | -205.76M | -127.29M | -32.06M | -32.60M | -37.90M | -19.59M |
| Investing Activities | |||||||||||
| Capital Expenditures | -16.06M | -8.92M | -3.09M | -3.16M | -14.01M | -12.68M | -15.51M | -2.35M | -4.88M | -700,000 | -257,000 |
| Net Intangibles | — | — | -258.15M | — | — | — | — | — | — | — | — |
| Net Acquisitions | — | — | — | — | — | — | — | — | — | — | — |
| Purchase of Investments | -766.36M | -489.71M | -655.45M | -969.44M | -738.39M | -801.24M | -360.84M | -264.47M | — | — | — |
| Sale of Investments | 1.06B | 349.37M | 690.83M | 538.35M | 735.93M | 652.83M | 304.00M | 48.00M | — | — | — |
| Investing Cash Flow | 274.04M | -149.54M | 32.29M | -434.25M | -16.47M | -161.09M | -75.85M | -218.70M | -6.08M | -700,000 | -257,000 |
| Financing Activities | |||||||||||
| Long-Term Debt Issuance | 97.93M | 137.79M | — | — | — | — | — | — | — | 7.00M | 3.00M |
| Long-Term Debt Payments | — | — | — | — | — | -1.53M | -2.58M | -3.33M | -1.81M | -750,000 | — |
| Other Financing Charges | -44,000 | 415.83M | — | — | -116,000 | -443,000 | -965,000 | -143,000 | -2.05M | -18,000 | -48,000 |
| Financing Cash Flow | 97.89M | 553.61M | — | 582.49M | 327.35M | -1.97M | 543.95M | 132.58M | 153.22M | 81.35M | 17.99M |
| Other Cash Details | |||||||||||
| End Cash Position | 81.52M | 124.90M | 215.12M | 689.80M | 119.60M | 73.43M | 405.07M | 53.34M | 162.71M | 47.24M | 1.99M |
| Income Tax Paid | — | 6.51M | 694,000 | 778,000 | 185,000 | 123,000 | 37,000 | — | — | — | — |
| Interest Paid | 38.47M | 9.81M | — | — | 5,000 | 267,000 | 151,000 | 316,000 | 452,000 | 215,000 | 53,000 |
| Free Cash Flow | -452.91M | -511.20M | -559.89M | 383.88M | -292.03M | -187.69M | -135.38M | -26.87M | -36.56M | -36.10M | -19.28M |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
|---|---|---|---|---|
| Vanguard Specialized-Health Care Fund | Oct 31, 2024 | 2,090,064 | 237.01M | 3.29% |
| Price (T.Rowe) New Horizons Fund | Sep 30, 2024 | 2,064,248 | 234.09M | 3.25% |
| Vanguard Total Stock Market Index Fund | Sep 30, 2024 | 1,998,643 | 226.65M | 3.15% |
| iShares Russell 2000 ETF | Nov 30, 2024 | 1,767,009 | 200.38M | 2.78% |
| Vanguard Small-Cap Index Fund | Sep 30, 2024 | 1,585,695 | 179.82M | 2.50% |
| Price (T.Rowe) Health Sciences Fund | Sep 30, 2024 | 1,461,318 | 165.71M | 2.30% |
| SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF | Nov 30, 2024 | 1,277,594 | 144.88M | 2.01% |
| Vanguard Extended Market Index Fund | Sep 30, 2024 | 951,573 | 107.91M | 1.50% |
| Delaware Group Equity Fds V-Small Cap Core Fund | Nov 30, 2024 | 908,168 | 102.99M | 1.43% |
| Vanguard Small-Cap Growth Index Fund | Sep 30, 2024 | 874,422 | 99.16M | 1.38% |
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