Erste Asset Management GmbH Purchases New Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Erste Asset Management GmbH purchased a new position in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 25,100 shares of the biotechnology company's stock, valued at approximately $2,323,000.

A number of other institutional investors also recently made changes to their positions in the stock. Millennium Management LLC raised its holdings in Blueprint Medicines by 540.0% during the second quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company's stock worth $67,646,000 after purchasing an additional 529,566 shares in the last quarter. 1832 Asset Management L.P. raised its stake in shares of Blueprint Medicines by 200,159.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 502,651 shares of the biotechnology company's stock worth $54,176,000 after buying an additional 502,400 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Blueprint Medicines by 79.3% in the second quarter. Point72 Asset Management L.P. now owns 501,581 shares of the biotechnology company's stock valued at $54,060,000 after buying an additional 221,813 shares during the period. Clearbridge Investments LLC bought a new position in Blueprint Medicines during the second quarter valued at about $23,817,000. Finally, First Turn Management LLC acquired a new position in Blueprint Medicines during the second quarter worth about $19,929,000.

Insider Activity at Blueprint Medicines

In related news, CEO Kate Haviland sold 2,353 shares of the business's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $96.60, for a total value of $227,299.80. Following the completion of the sale, the chief executive officer now directly owns 150,824 shares in the company, valued at approximately $14,569,598.40. The trade was a 1.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Christina Rossi sold 2,274 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $95.10, for a total value of $216,257.40. Following the transaction, the chief operating officer now owns 71,657 shares in the company, valued at approximately $6,814,580.70. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,260 shares of company stock valued at $768,057. 4.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. UBS Group initiated coverage on shares of Blueprint Medicines in a report on Thursday, October 24th. They issued a "neutral" rating and a $88.00 price target for the company. JPMorgan Chase & Co. initiated coverage on shares of Blueprint Medicines in a research note on Thursday, November 14th. They set an "overweight" rating and a $126.00 target price for the company. HC Wainwright restated a "buy" rating and issued a $135.00 price target on shares of Blueprint Medicines in a research report on Friday, November 15th. JMP Securities reiterated a "market outperform" rating and set a $125.00 price objective on shares of Blueprint Medicines in a research report on Monday, November 18th. Finally, StockNews.com upgraded Blueprint Medicines from a "sell" rating to a "hold" rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Blueprint Medicines has a consensus rating of "Moderate Buy" and a consensus target price of $122.11.

Blueprint Medicines Price Performance

Shares of NASDAQ BPMC traded down $1.09 during mid-day trading on Tuesday, reaching $96.53. The company had a trading volume of 314,776 shares, compared to its average volume of 616,789. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09. Blueprint Medicines Co. has a twelve month low of $70.39 and a twelve month high of $121.90. The stock's 50 day moving average is $91.12 and its 200-day moving average is $97.97.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its 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. The company had revenue of $128.20 million for the quarter, compared to analyst estimates of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The business's revenue was up 126.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($2.20) EPS. Equities analysts forecast that Blueprint Medicines Co. will post -3.68 EPS for the current year.

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.