Entropy Technologies LP Takes Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Entropy Technologies LP acquired a new position in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,800 shares of the biotechnology company's stock, valued at approximately $999,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Hsbc Holdings PLC bought a new position in shares of Blueprint Medicines during the 2nd quarter worth approximately $1,060,000. Comerica Bank lifted its position in shares of Blueprint Medicines by 2,582.9% during the 1st quarter. Comerica Bank now owns 10,839 shares of the biotechnology company's stock worth $1,028,000 after buying an additional 10,435 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Blueprint Medicines by 27.8% during the 2nd quarter. Federated Hermes Inc. now owns 62,354 shares of the biotechnology company's stock worth $6,721,000 after buying an additional 13,579 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Blueprint Medicines by 82.8% during the 2nd quarter. SG Americas Securities LLC now owns 21,684 shares of the biotechnology company's stock worth $2,337,000 after buying an additional 9,819 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Blueprint Medicines by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company's stock worth $598,564,000 after buying an additional 195,007 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms recently weighed in on BPMC. Wedbush reiterated an "outperform" rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research note on Thursday. Wells Fargo & Company cut their target price on shares of Blueprint Medicines from $153.00 to $151.00 and set an "overweight" rating for the company in a research report on Thursday, October 31st. Robert W. Baird upped their target price on shares of Blueprint Medicines from $112.00 to $127.00 and gave the stock an "outperform" rating in a research report on Friday, August 2nd. Needham & Company LLC reiterated a "buy" rating and issued a $133.00 target price on shares of Blueprint Medicines in a research report on Wednesday, October 30th. Finally, StockNews.com raised shares of Blueprint Medicines from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $122.00.

Blueprint Medicines Stock Down 1.3 %

Shares of NASDAQ:BPMC traded down $1.23 during trading on Thursday, reaching $95.65. 471,836 shares of the stock traded hands, compared to its average volume of 691,540. The stock has a market cap of $6.08 billion, a P/E ratio of -45.33 and a beta of 0.59. The stock has a 50-day moving average of $89.55 and a two-hundred day moving average of $98.89. Blueprint Medicines Co. has a 52-week low of $62.56 and a 52-week high of $121.90. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.08. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The business had revenue of $128.20 million for the quarter, compared to the consensus estimate of $127.56 million. During the same period last year, the firm earned ($2.20) earnings per share. The company's quarterly revenue was up 126.5% on a year-over-year basis. As a group, sell-side analysts expect that Blueprint Medicines Co. will post -3.61 earnings per share for the current fiscal year.

Insider Activity

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of Blueprint Medicines stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total value of $324,499.56. Following the completion of the transaction, the insider now directly owns 69,070 shares of the company's stock, valued at $6,169,332.40. This trade represents a 5.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 4.21% of the company's stock.

Blueprint Medicines Company Profile

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.