Blueprint Medicines Co. (NASDAQ:BPMC) Shares Purchased by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC raised its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 123.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,273 shares of the biotechnology company’s stock after purchasing an additional 1,254 shares during the period. Tower Research Capital LLC TRC’s holdings in Blueprint Medicines were worth $102,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in Blueprint Medicines by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 263,557 shares of the biotechnology company’s stock valued at $11,857,000 after purchasing an additional 1,021 shares during the period. Russell Investments Group Ltd. boosted its stake in Blueprint Medicines by 45.6% during the 1st quarter. Russell Investments Group Ltd. now owns 90,526 shares of the biotechnology company’s stock valued at $4,073,000 after purchasing an additional 28,340 shares during the period. Brown Advisory Inc. boosted its stake in Blueprint Medicines by 5.3% during the 1st quarter. Brown Advisory Inc. now owns 633,408 shares of the biotechnology company’s stock valued at $28,497,000 after purchasing an additional 32,126 shares during the period. NewEdge Wealth LLC acquired a new stake in shares of Blueprint Medicines in the 1st quarter worth approximately $247,000. Finally, Pitcairn Co. acquired a new stake in shares of Blueprint Medicines in the 1st quarter worth approximately $219,000.

Insider Activity

In other Blueprint Medicines news, insider Percy H. Carter sold 2,307 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $52.06, for a total value of $120,102.42. Following the transaction, the insider now owns 38,117 shares in the company, valued at approximately $1,984,371.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Blueprint Medicines news, Director Jeffrey W. Albers sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $50.16, for a total value of $501,600.00. Following the transaction, the director now owns 176,050 shares in the company, valued at approximately $8,830,668. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Percy H. Carter sold 2,307 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $52.06, for a total transaction of $120,102.42. Following the completion of the transaction, the insider now owns 38,117 shares in the company, valued at approximately $1,984,371.02. The disclosure for this sale can be found here. 3.88% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BPMC has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $85.00 price target on shares of Blueprint Medicines in a research note on Thursday, August 3rd. The Goldman Sachs Group reduced their price target on shares of Blueprint Medicines from $93.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, August 3rd. StockNews.com initiated coverage on shares of Blueprint Medicines in a research note on Thursday, August 17th. They issued a “sell” rating for the company. Morgan Stanley upped their price target on shares of Blueprint Medicines from $55.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 3rd. Finally, Barclays upped their price target on shares of Blueprint Medicines from $44.00 to $46.00 in a research note on Tuesday, May 23rd. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $77.82.

Blueprint Medicines Stock Up 1.6 %

BPMC stock opened at $50.64 on Friday. Blueprint Medicines Co. has a 52-week low of $37.82 and a 52-week high of $79.40. The company’s 50 day simple moving average is $55.65 and its 200-day simple moving average is $52.00. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.80 and a quick ratio of 4.70. The firm has a market capitalization of $3.07 billion, a P/E ratio of -5.49 and a beta of 0.75.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($2.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.58) by $0.39. Blueprint Medicines had a negative net margin of 245.62% and a negative return on equity of 117.88%. The business had revenue of $57.60 million for the quarter, compared to analyst estimates of $45.60 million. During the same quarter in the previous year, the business earned ($2.68) earnings per share. The firm’s revenue was up 57.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Blueprint Medicines Co. will post -9.06 EPS for the current year.

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; and Fisogatinib.