Geode Capital Management LLC Raises Stock Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Geode Capital Management LLC grew its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 1.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,480,187 shares of the biotechnology company's stock after acquiring an additional 20,703 shares during the quarter. Geode Capital Management LLC owned about 2.33% of Blueprint Medicines worth $136,942,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Amalgamated Bank increased its position in Blueprint Medicines by 5.3% during the 2nd quarter. Amalgamated Bank now owns 2,154 shares of the biotechnology company's stock valued at $232,000 after purchasing an additional 109 shares during the period. Van ECK Associates Corp boosted its stake in Blueprint Medicines by 13.3% in the second quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company's stock valued at $120,000 after acquiring an additional 131 shares in the last quarter. EFG Asset Management North America Corp. grew its holdings in Blueprint Medicines by 0.5% in the second quarter. EFG Asset Management North America Corp. now owns 27,884 shares of the biotechnology company's stock worth $3,008,000 after purchasing an additional 132 shares during the last quarter. Pallas Capital Advisors LLC increased its position in shares of Blueprint Medicines by 3.2% during the third quarter. Pallas Capital Advisors LLC now owns 5,657 shares of the biotechnology company's stock worth $523,000 after purchasing an additional 176 shares in the last quarter. Finally, Clarus Wealth Advisors lifted its holdings in shares of Blueprint Medicines by 8.6% during the 3rd quarter. Clarus Wealth Advisors now owns 2,590 shares of the biotechnology company's stock valued at $231,000 after purchasing an additional 206 shares during the last quarter.

Blueprint Medicines Price Performance

Shares of Blueprint Medicines stock traded up $1.09 during mid-day trading on Tuesday, reaching $96.48. 474,866 shares of the stock traded hands, compared to its average volume of 685,287. Blueprint Medicines Co. has a fifty-two week low of $72.24 and a fifty-two week high of $121.90. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09. The business has a 50-day moving average of $92.33 and a 200 day moving average of $97.32. The stock has a market capitalization of $6.13 billion, a PE ratio of -45.73 and a beta of 0.59.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, topping analysts' consensus estimates of ($0.97) by $0.08. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The firm had revenue of $128.20 million for the quarter, compared to the consensus estimate of $127.56 million. During the same quarter last year, the business posted ($2.20) earnings per share. The firm's revenue was up 126.5% compared to the same quarter last year. On average, analysts predict that Blueprint Medicines Co. will post -3.68 EPS for the current year.

Insider Buying and Selling at Blueprint Medicines

In other news, insider Ariel Hurley sold 1,819 shares of Blueprint Medicines stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $93.26, for a total value of $169,639.94. Following the completion of the sale, the insider now directly owns 14,967 shares of the company's stock, valued at approximately $1,395,822.42. The trade was a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kate Haviland sold 2,353 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $96.60, for a total value of $227,299.80. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold 10,079 shares of company stock worth $937,697 over the last quarter. 4.21% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BPMC shares. HC Wainwright reissued a "buy" rating and set a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, November 15th. JPMorgan Chase & Co. initiated coverage on Blueprint Medicines in a report on Thursday, November 14th. They issued an "overweight" rating and a $126.00 price objective on the stock. Wedbush reissued an "outperform" rating and set a $135.00 price target on shares of Blueprint Medicines in a research report on Thursday, November 14th. UBS Group initiated coverage on shares of Blueprint Medicines in a research note on Thursday, October 24th. They set a "neutral" rating and a $88.00 price objective for the company. Finally, Guggenheim reissued a "buy" rating on shares of Blueprint Medicines in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $122.11.

Blueprint Medicines 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.