2,998 Shares in Blueprint Medicines Co. (NASDAQ:BPMC) Bought by Blueshift Asset Management LLC

Blueshift Asset Management LLC purchased a new stake in Blueprint Medicines Co. (NASDAQ:BPMC) in the 3rd quarter, HoldingsChannel reports. The fund purchased 2,998 shares of the biotechnology company’s stock, valued at approximately $277,000.

Other institutional investors have also recently made changes to their positions in the company. Triad Wealth Partners LLC acquired a new stake in shares of Blueprint Medicines in the 2nd quarter valued at about $27,000. Covestor Ltd grew its stake in Blueprint Medicines by 206.7% in the third quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock valued at $55,000 after acquiring an additional 403 shares during the period. CWM LLC increased its holdings in shares of Blueprint Medicines by 114.6% during the second quarter. CWM LLC now owns 1,105 shares of the biotechnology company’s stock valued at $119,000 after acquiring an additional 590 shares in the last quarter. Van ECK Associates Corp raised its position 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 worth $120,000 after purchasing an additional 131 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of Blueprint Medicines in the 3rd quarter worth $108,000.

Analyst Upgrades and Downgrades

A number of analysts have commented on BPMC shares. Wells Fargo & Company decreased 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 note on Thursday, October 31st. 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 for the company. Baird R W raised shares of Blueprint Medicines to a “strong-buy” rating in a research report on Friday, August 2nd. StockNews.com raised Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Finally, HC Wainwright restated a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a report on Friday, November 15th. One equities 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $122.11.

Blueprint Medicines Stock Performance

NASDAQ:BPMC opened at $95.10 on Friday. Blueprint Medicines Co. has a twelve month low of $67.00 and a twelve month high of $121.90. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09. The stock has a market cap of $6.04 billion, a P/E ratio of -45.07 and a beta of 0.59. The business’s 50-day moving average price is $90.79 and its two-hundred day moving average price is $98.25.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.97) by $0.08. The business had revenue of $128.20 million during the quarter, compared to analyst estimates of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. Blueprint Medicines’s revenue for the quarter was up 126.5% on a year-over-year basis. During the same period in the previous year, the business posted ($2.20) earnings per share. As a group, equities analysts predict that Blueprint Medicines Co. will post -3.68 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Fouad Namouni sold 3,633 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 69,070 shares in the company, valued at $6,169,332.40. The trade was a 5.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.21% of the stock is owned by company 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.