Blueprint Medicines Stock Up Despite Lower-Than-Expected Q1 Earnings

Blueprint Medicines Corporation BPMC reported first-quarter 2025 adjusted loss of 74 cents per share, which was wider than the Zacks Consensus Estimate of a loss of 42 cents. The adjusted figure excludes the one-time equity investment gain of $50 million recorded in the reported quarter, following the closing of GSK's acquisition of IDRx. The company incurred a loss of $1.32 per share in the year-ago quarter.Quarterly revenues of $149.4 million, generated entirely from the net product sales of Ayvakit, missed the Zacks Consensus Estimate of $171.4 million. Nonetheless, total revenues jumped 55% year over year.Despite the earnings and revenues miss, shares of Blueprint rallied 10.9% yesterday, likely because the investors were encouraged by its guidance raise for Ayvakit’s global net product revenues in 2025. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)BPMC’s Q1 Results in DetailThe company’s total revenues comprise net product revenues from Ayvakit/Ayvakyt and collaboration revenues.Ayvakit (avapritinib), an inhibitor of KIT and PDGFRA proteins, is approved for treating PDGFRA Exon 18 mutant gastrointestinal stromal tumors and advanced and indolent systemic mastocytosis (“ISM”).Product revenues from Ayvakit sales were $149.4 million. Out of the total revenues generated from Ayvakit sales in the first quarter, $129.4 million came from the U.S. sales of the drug and $20 million in ex-U.S. sales.Ayvakit sales have increased 61% year over year, driven by new patient starts, low discontinuation rates and a high compliance rate.The label expansion of Ayvakit/Ayvakyt in 2023 to treat ISM in adults in the United States and European Union increased the drug's eligible patient population, which has been driving robust growth in sales. Since ISM is chronic, patients stay on therapy for longer durations.The company did not recognize any collaboration and license revenues in the first quarter. In the year-ago quarter, the metric was $3.6 million.Blueprint Medicines’ shares have gained 13.8% year to date against the industry’s 3.3% decline.Image Source: Zacks Investment ResearchAnother BPMC drug, Gavreto (pralsetinib), is approved for metastatic rearranged during transfection (“RET”) fusion-positive non-small cell lung cancer and RET-mutant and RET fusion-positive thyroid cancer.Following the severance of ties with Roche for Gavreto, Blueprint Medicines signed a deal with Rigel Pharmaceuticals in February 2024, whereby the latter purchased the U.S. rights to research, develop, manufacture and commercialize the drug. The transaction was closed in June 2024.Per the terms of the agreement, Blueprint Medicines is eligible to receive contingent specified regulatory and commercial milestone payments, in addition to certain tiered percentage royalties on annual net sales of Gavreto in the United States.Research and development (R&D) expenses totaled $91.9 million, up 4% from the year-ago quarter’s figure, primarily due to increased investment in BPMC’s priority programs to advance the associated clinical studies. Selling, general and administrative expenses amounted to $95.8 million, up 15% year over year, primarily due to an increase in activities supporting the commercialization of Ayvakit/Ayvakyt.Blueprint Medicines had cash, cash equivalents and investments worth $899.8 million as of March 31, 2025, compared with $863.9 million as of Dec. 31, 2024.BPMC's 2025 Outlook RaisedBlueprint Medicines now expects to generate around $700-$720 million in global Ayvakit net product revenues for all approved indications in 2025, compared with the previously announced range of $680-$710 million.The company expects to achieve Ayvakit sales of $2 billion by 2030. Additionally, BPMC reduced cash burn by more than 50% in 2024 and expects further reduction in 2025.BPMC's Pipeline UpdatesIn January, Blueprint posted results from the phase I healthy volunteer study of BLU-808, a wild-type KIT inhibitor. Data showed that the candidate’s differentiated profile enables the evaluation of tunable dosing strategies. BLU-808 was well-tolerated at all doses tested, showed consistent pharmacokinetics supporting once-daily oral dosing and achieved dose-dependent reductions in tryptase, exceeding 80%.Consequently, BPMC has initiated two phase II proof-of-concept studies of BLU-808 in patients with chronic spontaneous urticaria/chronic inducible urticaria and allergic rhinitis/allergic conjunctivitis.Blueprint Medicines Corporation Price and Consensus Blueprint Medicines Corporation price-consensus-chart | Blueprint Medicines Corporation QuoteBPMC’s Zacks Rank & Stocks to ConsiderBlueprint Medicines currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the biotech sector are Bayer BAYRY, ADMA Biologics Inc. ADMA and Beam Therapeutics Inc. BEAM, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.In the past 60 days, estimates for Bayer’s earnings per share have increased from $1.14 to $1.22 for 2025. During the same time, earnings per share have increased from $1.23 to $1.31 for 2026. Year to date, shares of Bayer have gained 32.6%. BAYRY’s earnings matched estimates in two of the trailing three quarters while missing the same on the remaining occasion, the average negative surprise being 19.61%. In the past 60 days, estimates for ADMA Biologics’ earnings per share have increased from 69 cents to 71 cents for 2025. During the same time, earnings per share estimates for 2026 have increased from 87 cents to 93 cents. Year to date, shares of ADMA have rallied 35.7%.ADMA’s earnings beat estimates in three of the trailing four quarters while missing the same on the remaining occasion, the average surprise being 32.80%.In the past 60 days, estimates for Beam Therapeutics' loss per share have narrowed from $4.45 to $4.27 for 2025. During the same time, loss per share estimates for 2026 have narrowed from $4.94 to $4.80. Year to date, shares of BEAM have lost 20%.BEAM’s earnings beat estimates in three of the trailing four quarters while missing the same on the remaining occasion, the average surprise being 3.92%.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Bayer Aktiengesellschaft (BAYRY): Free Stock Analysis Report Beam Therapeutics Inc. (BEAM): Free Stock Analysis Report ADMA Biologics Inc (ADMA): Free Stock Analysis Report Blueprint Medicines Corporation (BPMC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks