Alkeon Capital Management LLC Has $66.50 Million Stock Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Alkeon Capital Management LLC lowered its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 19.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 718,928 shares of the biotechnology company's stock after selling 175,000 shares during the quarter. Alkeon Capital Management LLC owned about 1.13% of Blueprint Medicines worth $66,501,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of BPMC. Triad Wealth Partners LLC acquired a new position in shares of Blueprint Medicines in the second quarter worth about $27,000. Covestor Ltd grew its holdings in Blueprint Medicines by 206.7% during the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company's stock worth $55,000 after acquiring an additional 403 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Blueprint Medicines in the 3rd quarter worth about $108,000. CWM LLC raised its stake in shares of Blueprint Medicines by 114.6% in the 2nd quarter. CWM LLC now owns 1,105 shares of the biotechnology company's stock valued at $119,000 after purchasing an additional 590 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Blueprint Medicines by 13.3% during the second quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company's stock worth $120,000 after purchasing an additional 131 shares during the last quarter.

Insider Activity at Blueprint Medicines

In other news, insider Fouad Namouni sold 3,633 shares of the business's stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total transaction of $324,499.56. Following the sale, the insider now owns 69,070 shares in the company, valued at $6,169,332.40. The trade was a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.21% of the stock is currently owned by corporate insiders.

Blueprint Medicines Price Performance

BPMC stock traded up $1.28 on Friday, hitting $96.38. 338,235 shares of the company's stock traded hands, compared to its average volume of 691,126. The stock has a market cap of $6.12 billion, a price-to-earnings ratio of -45.91 and a beta of 0.59. Blueprint Medicines Co. has a 1-year low of $68.28 and a 1-year high of $121.90. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09. The stock has a fifty day moving average of $90.87 and a 200-day moving average of $98.23.

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, beating analysts' consensus estimates of ($0.97) by $0.08. The company had revenue of $128.20 million during the quarter, compared to the consensus estimate of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The company's quarterly revenue was up 126.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($2.20) EPS. On average, analysts forecast that Blueprint Medicines Co. will post -3.68 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on BPMC. HC Wainwright restated a "buy" rating and set a $135.00 price objective on shares of Blueprint Medicines in a research note on Friday, November 15th. Wells Fargo & Company lowered their price target 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. Needham & Company LLC restated a "buy" rating and issued a $135.00 target price on shares of Blueprint Medicines in a research report on Friday, November 15th. StockNews.com raised Blueprint Medicines from a "sell" rating to a "hold" rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. assumed coverage on Blueprint Medicines in a report on Thursday, November 14th. They issued an "overweight" rating and a $126.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Blueprint Medicines presently has an average rating of "Moderate Buy" and a consensus price target of $122.11.

About Blueprint Medicines

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.