Emerald Advisers LLC Has $34.77 Million Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Emerald Advisers LLC grew its stake in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 10.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 375,866 shares of the biotechnology company's stock after buying an additional 34,666 shares during the quarter. Blueprint Medicines accounts for about 1.4% of Emerald Advisers LLC's investment portfolio, making the stock its 18th biggest holding. Emerald Advisers LLC owned about 0.60% of Blueprint Medicines worth $34,768,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in BPMC. Amalgamated Bank lifted its position in shares of Blueprint Medicines by 5.3% in the second quarter. Amalgamated Bank now owns 2,154 shares of the biotechnology company's stock worth $232,000 after purchasing an additional 109 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Blueprint Medicines by 13.3% in the second quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company's stock worth $120,000 after purchasing an additional 131 shares in the last quarter. EFG Asset Management North America Corp. lifted its position in shares of Blueprint Medicines by 0.5% in the second quarter. EFG Asset Management North America Corp. now owns 27,884 shares of the biotechnology company's stock worth $3,008,000 after purchasing an additional 132 shares in the last quarter. Pallas Capital Advisors LLC lifted its position in shares of Blueprint Medicines by 3.2% in the third quarter. Pallas Capital Advisors LLC now owns 5,657 shares of the biotechnology company's stock worth $523,000 after purchasing an additional 176 shares in the last quarter. Finally, US Bancorp DE lifted its position in shares of Blueprint Medicines by 5.2% in the first quarter. US Bancorp DE now owns 3,724 shares of the biotechnology company's stock worth $353,000 after purchasing an additional 183 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Baird R W raised shares of Blueprint Medicines to a "strong-buy" rating in a research report on Friday, August 2nd. Robert W. Baird upped their price target on shares of Blueprint Medicines from $112.00 to $127.00 and gave the stock an "outperform" rating in a research report on Friday, August 2nd. Barclays upped their price target on shares of Blueprint Medicines from $75.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Monday, July 29th. Wells Fargo & Company dropped their price target on shares of Blueprint Medicines from $153.00 to $151.00 and set an "overweight" rating on the stock in a research report on Thursday. Finally, Oppenheimer upped their price target on shares of Blueprint Medicines from $114.00 to $125.00 and gave the stock an "outperform" rating in a research report on Monday, July 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Blueprint Medicines presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.39.

Blueprint Medicines Stock Performance

Shares of BPMC stock traded up $3.19 on Friday, hitting $90.70. The company's stock had a trading volume of 619,676 shares, compared to its average volume of 633,374. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.65 and a current ratio of 3.32. The stock's 50 day moving average is $88.79 and its 200-day moving average is $98.48. Blueprint Medicines Co. has a fifty-two week low of $56.74 and a fifty-two week high of $121.90. The company has a market capitalization of $5.76 billion, a PE ratio of -42.99 and a beta of 0.59.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, beating 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 business had revenue of $128.20 million for the quarter, compared to the consensus estimate of $127.56 million. During the same period in the prior year, the company posted ($2.20) earnings per share. Blueprint Medicines's revenue was up 126.5% compared to the same quarter last year. Equities research analysts expect that Blueprint Medicines Co. will post -3.77 earnings per share for the current fiscal year.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the 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 $6,169,332.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Blueprint Medicines news, insider Philina Lee sold 41,913 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the sale, the insider now directly owns 34,729 shares in the company, valued at $3,236,395.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Fouad Namouni sold 3,633 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total transaction of $324,499.56. Following the sale, the insider now owns 69,070 shares in the company, valued at $6,169,332.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.21% of the stock is currently owned by corporate insiders.

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.