Eventide Asset Management LLC Raises Stock Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Eventide Asset Management LLC lifted its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 50.5% in the third quarter, Holdings Channel reports. The firm owned 348,704 shares of the biotechnology company’s stock after buying an additional 117,019 shares during the period. Eventide Asset Management LLC’s holdings in Blueprint Medicines were worth $32,255,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. grew its stake in Blueprint Medicines by 4.2% in the second quarter. American Century Companies Inc. now owns 802,733 shares of the biotechnology company’s stock worth $86,519,000 after purchasing an additional 32,600 shares in the last quarter. Millennium Management LLC grew its stake in Blueprint Medicines by 540.0% in the second quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company’s stock worth $67,646,000 after purchasing an additional 529,566 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Blueprint Medicines by 9.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 597,232 shares of the biotechnology company’s stock worth $55,244,000 after purchasing an additional 50,736 shares in the last quarter. Hood River Capital Management LLC grew its stake in Blueprint Medicines by 7.0% in the second quarter. Hood River Capital Management LLC now owns 502,820 shares of the biotechnology company’s stock worth $54,194,000 after purchasing an additional 32,694 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its stake in Blueprint Medicines by 200,159.4% in the second quarter. 1832 Asset Management L.P. now owns 502,651 shares of the biotechnology company’s stock worth $54,176,000 after purchasing an additional 502,400 shares in the last quarter.

Blueprint Medicines Stock Performance

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

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.08. The company had revenue of $128.20 million for the quarter, compared to the consensus estimate of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The firm’s revenue for the quarter was up 126.5% compared to the same quarter last year. During the same period last year, the firm earned ($2.20) EPS. As a group, research analysts expect that Blueprint Medicines Co. will post -3.68 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Fouad Namouni sold 3,633 shares of the firm’s 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 directly owns 69,070 shares in the company, valued at $6,169,332.40. This trade represents a 5.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.21% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on BPMC shares. JPMorgan Chase & Co. started 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. JMP Securities reissued a “market outperform” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a research note on Monday, November 18th. Wells Fargo & Company dropped their target price on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. HC Wainwright reaffirmed a “buy” rating and set a $135.00 target price on shares of Blueprint Medicines in a research report on Friday, November 15th. Finally, StockNews.com raised Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.11.

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.