A month has gone by since the last earnings report for Blueprint Medicines (BPMC Quick QuoteBPMC - Free Report) . Shares have added about 22.7% 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' Q2 Earnings & Revenues Miss Mark

Blueprint Medicines reported a loss of $2.68 per share for second-quarter 2022, wider than the Zacks Consensus Estimate of a loss of $2.23. The company had reported a loss of $1.86 per share in the year-ago quarter.

Quarterly revenues of $36.5 million also missed the Zacks Consensus Estimate of $38 million. Sales were up 33.7% from the year-ago figure of $27.3 million.

Quarter in Detail

Since the company has transferred the responsibilities of booking U.S. product sales of Gavreto to Roche on Jul 1, 2021, Blueprint Medicines only records its share of profit and loss for the drug in its financial results.

Blueprint Medicines’ total revenues of $36.5 million comprised net product revenues from Ayvakit sales and collaboration revenues. It reported net product revenues of $28.5 million. Sales of the drug grew 20% on a sequential basis.

Collaboration revenues were $8 million, primarily generated from the agreements with CStone Pharmaceutical and Roche.

Research and development expenses were $128.5 million, up 60.6% from the year-ago figure, owing to higher costs associated with clinical studies and increased costs due to early discovery efforts.

Selling, general and administrative expenses were $58.7 million, up 19.1% year over year, on account of higher costs related to the commercialization of Ayvakit/Ayvakyt.

2022 Guidance

Blueprint Medicines expects total revenues for full-year 2022 in the range of $180-$200 million. Net Ayvakit revenues are expected in the range of $115-$130 million in 2022.

How Have Estimates Been Moving Since Then?

It turns out, estimates review have trended downward during the past month.

The consensus estimate has shifted -68.74% due to these changes.

VGM Scores

Currently, Blueprint Medicines has an average Growth Score of C, though it is lagging a lot on the Momentum Score front with an F. Following the exact same course, 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 D. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

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