Alkeon Capital Management LLC Has $66.50 Million Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Alkeon Capital Management LLC trimmed its stake in Blueprint Medicines Co. (NASDAQ:BPMC) by 19.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 718,928 shares of the biotechnology company’s stock after selling 175,000 shares during the period. Alkeon Capital Management LLC’s holdings in Blueprint Medicines were worth $66,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Ally Bridge Group NY LLC increased its stake in Blueprint Medicines by 40.2% during the third quarter. Ally Bridge Group NY LLC now owns 106,080 shares of the biotechnology company’s stock valued at $9,812,000 after acquiring an additional 30,442 shares during the period. Blueshift Asset Management LLC acquired a new position in shares of Blueprint Medicines in the third quarter valued at $277,000. Quantbot Technologies LP bought a new position in Blueprint Medicines in the third quarter worth $108,000. Pitcairn Co. boosted its stake in Blueprint Medicines by 127.6% during the third quarter. Pitcairn Co. now owns 10,315 shares of the biotechnology company’s stock worth $954,000 after buying an additional 5,783 shares in the last quarter. Finally, Algert Global LLC increased its holdings in Blueprint Medicines by 40.7% in the 3rd quarter. Algert Global LLC now owns 92,236 shares of the biotechnology company’s stock valued at $8,532,000 after buying an additional 26,696 shares during the period.

Wall Street Analysts Forecast Growth

BPMC has been the topic of several recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $135.00 target price on shares of Blueprint Medicines in a research report on Friday, November 15th. JPMorgan Chase & Co. began coverage on Blueprint Medicines in a research note on Thursday, November 14th. They issued an “overweight” rating and a $126.00 price objective on the stock. Wells Fargo & Company cut their target price on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. StockNews.com upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Robert W. Baird boosted their target price on shares of Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Blueprint Medicines presently has an average rating of “Moderate Buy” and a consensus price target of $122.11.

Insider Activity at Blueprint Medicines

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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.21% of the stock is owned by corporate insiders.

Blueprint Medicines Price Performance

Blueprint Medicines stock opened at $95.10 on Friday. The firm has a market capitalization of $6.04 billion, a P/E ratio of -45.07 and a beta of 0.59. The business has a 50-day moving average of $90.79 and a 200-day moving average of $98.25. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09. Blueprint Medicines Co. has a 1 year low of $67.00 and a 1 year high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last issued its 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. The firm had revenue of $128.20 million during the quarter, compared to the consensus estimate of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The business’s quarterly revenue was up 126.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($2.20) earnings per share. On average, equities analysts anticipate that Blueprint Medicines Co. will post -3.68 EPS 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.