Bank of Montreal Can Invests $419,000 in Blueprint Medicines Co. (NASDAQ:BPMC)

Bank of Montreal Can acquired a new position in Blueprint Medicines Co. (NASDAQ:BPMCFree Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,605 shares of the biotechnology company’s stock, valued at approximately $419,000.

Several other hedge funds and other institutional investors have also modified their holdings of BPMC. LPL Financial LLC lifted its position in Blueprint Medicines by 2.4% in the second quarter. LPL Financial LLC now owns 10,936 shares of the biotechnology company’s stock worth $691,000 after purchasing an additional 256 shares during the period. Brown Advisory Inc. lifted its position in Blueprint Medicines by 0.3% in the second quarter. Brown Advisory Inc. now owns 635,196 shares of the biotechnology company’s stock worth $40,144,000 after purchasing an additional 1,788 shares during the period. Strs Ohio lifted its position in Blueprint Medicines by 122.7% in the second quarter. Strs Ohio now owns 4,900 shares of the biotechnology company’s stock worth $309,000 after purchasing an additional 2,700 shares during the period. Vanguard Personalized Indexing Management LLC bought a new position in Blueprint Medicines in the second quarter worth $209,000. Finally, First Republic Investment Management Inc. bought a new position in Blueprint Medicines in the second quarter worth $250,000.

Insider Buying and Selling at Blueprint Medicines

In other news, Director Jeffrey W. Albers sold 1,485 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $60.13, for a total transaction of $89,293.05. Following the completion of the transaction, the director now directly owns 176,050 shares in the company, valued at $10,585,886.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Fouad Namouni sold 3,769 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $48.06, for a total transaction of $181,138.14. Following the completion of the sale, the insider now owns 62,080 shares of the company’s stock, valued at $2,983,564.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey W. Albers sold 1,485 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $60.13, for a total value of $89,293.05. Following the sale, the director now directly owns 176,050 shares of the company’s stock, valued at approximately $10,585,886.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,633 shares of company stock worth $1,384,881. 3.88% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on BPMC. The Goldman Sachs Group reduced their target price on Blueprint Medicines from $93.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, August 3rd. Wells Fargo & Company raised Blueprint Medicines from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $55.00 to $82.00 in a report on Monday, July 31st. HC Wainwright reissued a “buy” rating and set a $85.00 price objective on shares of Blueprint Medicines in a report on Thursday, August 3rd. JMP Securities reissued a “market outperform” rating and set a $114.00 price objective on shares of Blueprint Medicines in a report on Monday, August 7th. Finally, Wedbush reissued an “outperform” rating and set a $80.00 price objective on shares of Blueprint Medicines in a report on Friday, November 10th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $75.43.

Read Our Latest Analysis on BPMC

Blueprint Medicines Stock Performance

BPMC opened at $63.66 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 4.01 and a current ratio of 4.09. Blueprint Medicines Co. has a 52-week low of $37.82 and a 52-week high of $68.00. The firm has a market cap of $3.87 billion, a P/E ratio of -6.93 and a beta of 0.62. The business’s fifty day moving average is $52.79 and its 200-day moving average is $54.96.

Blueprint Medicines (NASDAQ:BPMCGet Free Report) last announced its quarterly earnings data on Thursday, October 26th. The biotechnology company reported ($2.20) earnings per share for the quarter, topping the consensus estimate of ($2.39) by $0.19. Blueprint Medicines had a negative return on equity of 153.79% and a negative net margin of 256.57%. The business had revenue of $56.57 million during the quarter, compared to the consensus estimate of $50.66 million. During the same period in the prior year, the company earned ($2.23) EPS. Blueprint Medicines’s revenue for the quarter was down 14.3% on a year-over-year basis. Sell-side analysts expect that Blueprint Medicines Co. will post -8.48 EPS for the current fiscal year.

About Blueprint Medicines

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Blueprint Medicines (NASDAQ:BPMC)

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