Edgestream Partners L.P. lifted its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 443.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,123 shares of the biotechnology company's stock after buying an additional 45,800 shares during the period. Edgestream Partners L.P. owned approximately 0.09% of Blueprint Medicines worth $5,191,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Triad Wealth Partners LLC acquired a new position in shares of Blueprint Medicines in the second quarter valued at about $27,000. Covestor Ltd boosted its position in Blueprint Medicines by 206.7% in the third quarter. Covestor Ltd now owns 598 shares of the biotechnology company's stock valued at $55,000 after buying an additional 403 shares during the last quarter. Quantbot Technologies LP acquired a new position in Blueprint Medicines in the 3rd quarter worth approximately $108,000. CWM LLC raised its position in Blueprint Medicines by 114.6% during the 2nd quarter. CWM LLC now owns 1,105 shares of the biotechnology company's stock worth $119,000 after buying an additional 590 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in Blueprint Medicines by 13.3% during the 2nd 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 during the period.
Blueprint Medicines Price Performance
NASDAQ:BPMC traded up $1.28 during trading hours on Friday, hitting $96.38. 338,237 shares of the stock were exchanged, compared to its average volume of 632,778. The firm's fifty day moving average price is $90.97 and its 200 day moving average price is $98.10. Blueprint Medicines Co. has a 52-week low of $68.28 and a 52-week high of $121.90. The company has a market cap of $6.12 billion, a P/E ratio of -45.68 and a beta of 0.59. 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 (NASDAQ:BPMC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.08. The firm had revenue of $128.20 million during the quarter, compared to analysts' expectations of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The firm's revenue for the quarter was up 126.5% on a year-over-year basis. During the same period in the previous year, the business earned ($2.20) earnings per share. As a group, equities research analysts anticipate that Blueprint Medicines Co. will post -3.68 EPS for the current fiscal year.
Analyst Ratings Changes
A number of research firms have recently weighed in on BPMC. HC Wainwright reiterated a "buy" rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research note on Friday, November 15th. JPMorgan Chase & Co. assumed coverage on Blueprint Medicines in a research report on Thursday, November 14th. They set an "overweight" rating and a $126.00 price target on the stock. Wells Fargo & Company decreased their price objective on Blueprint Medicines from $153.00 to $151.00 and set an "overweight" rating for the company in a report on Thursday, October 31st. Wedbush restated an "outperform" rating and issued a $135.00 target price on shares of Blueprint Medicines in a research note on Thursday, November 14th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $135.00 price target on shares of Blueprint Medicines in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $122.11.
View Our Latest Analysis on Blueprint Medicines
Insider Activity
In other news, insider Fouad Namouni sold 3,633 shares of the company's stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total value of $324,499.56. Following the completion of the sale, the insider now directly owns 69,070 shares in the company, valued at $6,169,332.40. This represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.21% of the company's stock.
About Blueprint Medicines
(
Free Report)
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.
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