Blueprint Medicines Co. (NASDAQ:BPMC) Shares Purchased by Citigroup Inc.

Citigroup Inc. grew its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 19.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 143,441 shares of the biotechnology company's stock after buying an additional 23,189 shares during the period. Citigroup Inc. owned 0.23% of Blueprint Medicines worth $13,268,000 at the end of the most recent reporting period.

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

Blueprint Medicines Stock Up 1.3 %

Shares of BPMC stock traded up $1.28 on Friday, hitting $96.38. The stock had a trading volume of 338,235 shares, compared to its average volume of 691,126. The stock's 50 day moving average is $90.87 and its 200-day moving average is $98.23. The firm has a market capitalization of $6.12 billion, a price-to-earnings ratio of -45.91 and a beta of 0.59. Blueprint Medicines Co. has a 52-week low of $68.28 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 announced its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $128.20 million during 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 revenue was up 126.5% on a year-over-year basis. As a group, research analysts expect that Blueprint Medicines Co. will post -3.68 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Fouad Namouni sold 3,633 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total transaction of $324,499.56. Following the transaction, the insider now owns 69,070 shares of the company's stock, valued at approximately $6,169,332.40. This trade represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.21% of the stock is owned by company insiders.

Analyst Ratings Changes

BPMC has been the topic of several analyst reports. Baird R W upgraded Blueprint Medicines to a "strong-buy" rating in a report on Friday, August 2nd. Needham & Company LLC reissued a "buy" rating and issued a $135.00 price target on shares of Blueprint Medicines in a research note on Friday, November 15th. Robert W. Baird upped their price objective on shares of Blueprint Medicines from $112.00 to $127.00 and gave the company an "outperform" rating in a research note on Friday, August 2nd. HC Wainwright reissued a "buy" rating and issued a $135.00 target price on shares of Blueprint Medicines in a research report on Friday, November 15th. Finally, JPMorgan Chase & Co. began coverage on shares of Blueprint Medicines in a research report on Thursday, November 14th. They set an "overweight" rating and a $126.00 price target for the company. One 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 company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.