Entropy Technologies LP Purchases New Shares in Blueprint Medicines Co. (NASDAQ:BPMC)

Entropy Technologies LP bought a new stake in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 10,800 shares of the biotechnology company's stock, valued at approximately $999,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Blueprint Medicines by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company's stock valued at $598,564,000 after purchasing an additional 195,007 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Blueprint Medicines by 15.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,250,823 shares of the biotechnology company's stock valued at $592,954,000 after acquiring an additional 821,868 shares during the last quarter. American Century Companies Inc. increased its position in Blueprint Medicines by 4.2% during the 2nd quarter. American Century Companies Inc. now owns 802,733 shares of the biotechnology company's stock worth $86,519,000 after purchasing an additional 32,600 shares in the last quarter. Millennium Management LLC increased its position in Blueprint Medicines by 540.0% during the 2nd 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. Finally, Hood River Capital Management LLC increased its position in Blueprint Medicines by 7.0% during the 2nd quarter. Hood River Capital Management LLC now owns 502,820 shares of the biotechnology company's stock worth $54,194,000 after purchasing an additional 32,694 shares in the last quarter.

Blueprint Medicines Stock Performance

Shares of BPMC traded down $1.23 during trading hours on Thursday, reaching $95.65. 471,836 shares of the company's stock traded hands, compared to its average volume of 691,540. The business's fifty day simple moving average is $89.55 and its two-hundred day simple moving average is $98.89. The firm has a market capitalization of $6.08 billion, a price-to-earnings ratio of -45.33 and a beta of 0.59. Blueprint Medicines Co. has a twelve month low of $62.56 and a twelve month high of $121.90. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last released its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.97) by $0.08. The firm 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%. Blueprint Medicines's revenue was up 126.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($2.20) earnings per share. Analysts predict that Blueprint Medicines Co. will post -3.61 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Fouad Namouni sold 3,633 shares of the stock in a transaction 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 transaction, the insider now owns 69,070 shares in the company, valued at $6,169,332.40. This trade represents a 5.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BPMC has been the subject of several research analyst reports. UBS Group initiated coverage on Blueprint Medicines in a research note on Thursday, October 24th. They set a "neutral" rating and a $88.00 target price for the company. Robert W. Baird raised their price objective on Blueprint Medicines from $112.00 to $127.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. Wedbush reiterated an "outperform" rating and issued a $135.00 target price on shares of Blueprint Medicines in a research note on Thursday. Guggenheim raised their target price on Blueprint Medicines from $130.00 to $138.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Finally, StockNews.com upgraded Blueprint Medicines from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. 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 stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $122.00.

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.