Point72 Asset Management L.P. purchased a new position in Blueprint Medicines Corp (NASDAQ:BPMC) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 209,729 shares of the biotechnology company’s stock, valued at approximately $16,801,000. Point72 Asset Management L.P. owned about 0.43% of Blueprint Medicines at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Allworth Financial LP bought a new stake in Blueprint Medicines in the fourth quarter valued at $27,000. Aigen Investment Management LP acquired a new stake in shares of Blueprint Medicines in the 4th quarter worth about $30,000. Nisa Investment Advisors LLC lifted its position in Blueprint Medicines by 64.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 460 shares of the biotechnology company’s stock valued at $37,000 after purchasing an additional 180 shares during the last quarter. NumerixS Investment Technologies Inc bought a new stake in Blueprint Medicines in the 4th quarter valued at about $46,000. Finally, Steward Partners Investment Advisory LLC acquired a new position in Blueprint Medicines during the 4th quarter valued at about $62,000. Hedge funds and other institutional investors own 93.77% of the company’s stock.
In other Blueprint Medicines news, Director George Demetri sold 1,705 shares of Blueprint Medicines stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $80.59, for a total value of $137,405.95. Following the transaction, the director now owns 3,030 shares in the company, valued at $244,187.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jeffrey W. Albers sold 20,000 shares of Blueprint Medicines stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $52.10, for a total transaction of $1,042,000.00. Following the completion of the transaction, the chief executive officer now owns 141,434 shares in the company, valued at approximately $7,368,711.40. The disclosure for this sale can be found here. Insiders sold a total of 31,250 shares of company stock worth $1,952,506 in the last ninety days. Corporate insiders own 4.02% of the company’s stock.
Several analysts recently commented on the company. Piper Jaffray Companies lowered their target price on Blueprint Medicines from $85.00 to $77.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Cowen began coverage on Blueprint Medicines in a research note on Monday, March 16th. They issued a “buy” rating for the company. Wedbush reissued an “outperform” rating on shares of Blueprint Medicines in a research note on Tuesday. BMO Capital Markets raised Blueprint Medicines from a “market perform” rating to an “outperform” rating and raised their price target for the company from $74.00 to $89.00 in a report on Tuesday, March 17th. Finally, ValuEngine upgraded shares of Blueprint Medicines from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $104.85.
Shares of Blueprint Medicines stock traded up $3.55 during trading on Thursday, hitting $61.23. The stock had a trading volume of 522,818 shares, compared to its average volume of 929,543. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.85 and a quick ratio of 4.85. The firm has a market cap of $3.12 billion, a P/E ratio of -8.39 and a beta of 1.69. The business has a fifty day moving average of $58.94 and a two-hundred day moving average of $71.37. Blueprint Medicines Corp has a fifty-two week low of $43.29 and a fifty-two week high of $102.98.
Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Thursday, February 13th. The biotechnology company reported ($1.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.71) by $0.36. Blueprint Medicines had a negative return on equity of 72.52% and a negative net margin of 522.75%. The firm had revenue of $51.53 million for the quarter, compared to analyst estimates of $26.00 million. During the same period in the previous year, the company earned ($1.83) earnings per share. Blueprint Medicines’s revenue was up 4888.7% compared to the same quarter last year. As a group, research analysts forecast that Blueprint Medicines Corp will post -8.63 earnings per share for the current year.
About Blueprint Medicines
Blueprint Medicines Corporation develops drugs of small molecule kinase inhibitors that target genomic drivers in various cancers and a rare genetic disease. Its lead drug candidates include avapritinib, which completed Phase I clinical trials that targets PDGFRA Exon 18 mutant GIST and KIT-driven GIST; and BLU-554, which is in Phase I clinical trials an orally available, potent, and irreversible inhibitor of the kinase FGFR4 that is activated in a defined subset of patients with hepatocellular carcinoma.
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