Intech Investment Management LLC Takes Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Intech Investment Management LLC acquired a new position in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 18,511 shares of the biotechnology company's stock, valued at approximately $1,712,000.

Several other institutional investors and hedge funds also recently bought and sold shares of BPMC. Amalgamated Bank boosted its stake in shares of Blueprint Medicines by 5.3% during the second quarter. Amalgamated Bank now owns 2,154 shares of the biotechnology company's stock valued at $232,000 after purchasing an additional 109 shares during the period. Van ECK Associates Corp boosted its stake 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 valued at $120,000 after purchasing an additional 131 shares during the period. EFG Asset Management North America Corp. boosted its stake in shares of Blueprint Medicines by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 27,884 shares of the biotechnology company's stock valued at $3,008,000 after purchasing an additional 132 shares during the period. Pallas Capital Advisors LLC boosted its stake in shares of Blueprint Medicines by 3.2% during the third quarter. Pallas Capital Advisors LLC now owns 5,657 shares of the biotechnology company's stock valued at $523,000 after purchasing an additional 176 shares during the period. Finally, Clarus Wealth Advisors boosted its stake in shares of Blueprint Medicines by 8.6% during the third quarter. Clarus Wealth Advisors now owns 2,590 shares of the biotechnology company's stock valued at $231,000 after purchasing an additional 206 shares during the period.

Insiders Place Their Bets

In other news, insider Fouad Namouni sold 3,633 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was 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 in the company, valued at $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 is available at the SEC website. Insiders own 4.21% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on BPMC. JPMorgan Chase & Co. began coverage on shares of Blueprint Medicines in a research note on Thursday, November 14th. They issued an "overweight" rating and a $126.00 price objective for the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research note on Friday, November 15th. Robert W. Baird boosted their target price on shares of Blueprint Medicines from $112.00 to $127.00 and gave the stock an "outperform" rating in a report on Friday, August 2nd. Guggenheim boosted their target price on shares of Blueprint Medicines from $130.00 to $138.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Finally, StockNews.com upgraded shares of Blueprint Medicines from a "sell" rating to a "hold" rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Blueprint Medicines presently has an average rating of "Moderate Buy" and a consensus target price of $122.11.

Blueprint Medicines Stock Performance

NASDAQ BPMC traded up $0.76 during trading hours on Tuesday, reaching $94.63. The stock had a trading volume of 516,485 shares, compared to its average volume of 692,133. The stock has a fifty day moving average of $90.51 and a 200 day moving average of $98.36. The stock has a market cap of $6.01 billion, a P/E ratio of -44.85 and a beta of 0.59. Blueprint Medicines Co. has a 52-week low of $67.00 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 released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) 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 analyst estimates of $127.56 million. During the same quarter in the prior year, the firm posted ($2.20) EPS. The business's quarterly revenue was up 126.5% compared to the same quarter last year. Sell-side analysts predict that Blueprint Medicines Co. will post -3.68 earnings per share for the current year.

Blueprint Medicines Company 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.