Jacobs Levy Equity Management Inc. Buys 306,079 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Jacobs Levy Equity Management Inc. grew its stake in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 161.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 496,087 shares of the biotechnology company's stock after buying an additional 306,079 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.78% of Blueprint Medicines worth $45,888,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Triad Wealth Partners LLC purchased a new position in Blueprint Medicines in the 2nd quarter worth approximately $27,000. Covestor Ltd grew its stake in Blueprint Medicines by 206.7% in the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company's stock worth $55,000 after buying an additional 403 shares in the last quarter. CWM LLC grew its stake in Blueprint Medicines by 114.6% in 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 in the last quarter. Van ECK Associates Corp grew its stake in Blueprint Medicines by 13.3% in the 2nd quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company's stock worth $120,000 after buying an additional 131 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in Blueprint Medicines in the 3rd quarter worth approximately $108,000.

Insider Activity at Blueprint Medicines

In other news, COO Christina Rossi sold 2,274 shares of the firm's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $95.10, for a total transaction of $216,257.40. Following the sale, the chief operating officer now owns 71,657 shares of the company's stock, valued at $6,814,580.70. This trade represents a 3.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Fouad Namouni sold 3,633 shares of the firm's 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 sale, the insider now directly owns 69,070 shares in the company, valued at approximately $6,169,332.40. The trade was a 5.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,260 shares of company stock valued at $768,057. 4.21% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BPMC. HC Wainwright reaffirmed a "buy" rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research note on Friday, November 15th. StockNews.com raised shares of Blueprint Medicines from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. UBS Group began coverage on shares of Blueprint Medicines in a research note on Thursday, October 24th. They issued a "neutral" rating and a $88.00 price objective for the company. Wells Fargo & Company cut their price objective on shares of Blueprint Medicines from $153.00 to $151.00 and set an "overweight" rating for the company in a research note on Thursday, October 31st. Finally, Wedbush reaffirmed an "outperform" rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $122.11.

Blueprint Medicines Stock Up 0.8 %

Shares of Blueprint Medicines stock traded up $0.80 during trading on Wednesday, hitting $97.33. The company's stock had a trading volume of 109,873 shares, compared to its average volume of 686,368. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32. The company has a fifty day simple moving average of $91.24 and a two-hundred day simple moving average of $97.91. The company has a market capitalization of $6.18 billion, a PE ratio of -45.75 and a beta of 0.59. Blueprint Medicines Co. has a 52 week low of $70.89 and a 52 week high of $121.90.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its quarterly earnings results 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 net margin of 29.48% and a negative return on equity of 112.30%. The company had revenue of $128.20 million during the quarter, compared to analyst estimates of $127.56 million. During the same period last year, the business earned ($2.20) EPS. Blueprint Medicines's quarterly revenue was up 126.5% compared to the same quarter last year. Equities research analysts predict that Blueprint Medicines Co. will post -3.68 earnings per share for the current year.

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.