Eventide Asset Management LLC Grows Stock Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Eventide Asset Management LLC boosted its position in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 50.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 348,704 shares of the biotechnology company's stock after buying an additional 117,019 shares during the period. Eventide Asset Management LLC owned approximately 0.55% of Blueprint Medicines worth $32,255,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Verition Fund Management LLC boosted its holdings in shares of Blueprint Medicines by 77.5% in the third quarter. Verition Fund Management LLC now owns 9,759 shares of the biotechnology company's stock valued at $903,000 after acquiring an additional 4,260 shares in the last quarter. Captrust Financial Advisors lifted its position in Blueprint Medicines by 3.4% in the third quarter. Captrust Financial Advisors now owns 17,904 shares of the biotechnology company's stock valued at $1,656,000 after purchasing an additional 582 shares during the period. Martingale Asset Management L P boosted its holdings in Blueprint Medicines by 7.6% in the 3rd quarter. Martingale Asset Management L P now owns 15,603 shares of the biotechnology company's stock valued at $1,443,000 after purchasing an additional 1,098 shares in the last quarter. Ally Bridge Group NY LLC increased its position in Blueprint Medicines by 40.2% during the 3rd quarter. Ally Bridge Group NY LLC now owns 106,080 shares of the biotechnology company's stock worth $9,812,000 after purchasing an additional 30,442 shares during the period. Finally, Blueshift Asset Management LLC purchased a new position in shares of Blueprint Medicines during the 3rd quarter worth approximately $277,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. HC Wainwright reaffirmed a "buy" rating and set a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, November 15th. JMP Securities reaffirmed a "market outperform" rating and set a $125.00 price target on shares of Blueprint Medicines in a research note on Monday, November 18th. Baird R W raised shares of Blueprint Medicines to a "strong-buy" rating in a report on Friday, August 2nd. UBS Group initiated coverage on shares of Blueprint Medicines in a research report on Thursday, October 24th. They set a "neutral" rating and a $88.00 target price on the stock. Finally, Wells Fargo & Company reduced 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. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $122.11.

Blueprint Medicines Trading Up 1.3 %

NASDAQ BPMC traded up $1.28 during mid-day trading on Friday, reaching $96.38. 338,237 shares of the stock were exchanged, compared to its average volume of 691,126. The stock has a market capitalization of $6.12 billion, a PE ratio of -45.68 and a beta of 0.59. 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 Co. has a 1-year low of $68.28 and a 1-year high of $121.90. The business's fifty day simple moving average is $90.97 and its 200 day simple moving average is $98.15.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, topping 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 business had revenue of $128.20 million for the quarter, compared to analysts' expectations of $127.56 million. During the same quarter last year, the firm earned ($2.20) earnings per share. The business's revenue was up 126.5% on a year-over-year basis. On average, research analysts anticipate that Blueprint Medicines Co. will post -3.68 earnings per share for the current fiscal year.

Insider Activity at Blueprint Medicines

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 transaction, the insider now directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.21% of the stock is owned by insiders.

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.