3,339 Shares in Blueprint Medicines Co. (NASDAQ:BPMC) Bought by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd acquired a new stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,339 shares of the biotechnology company’s stock, valued at approximately $360,000.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Blueprint Medicines by 3.2% during the first quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company’s stock valued at $598,564,000 after acquiring an additional 195,007 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Blueprint Medicines by 15.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,250,823 shares of the biotechnology company’s stock valued at $592,954,000 after acquiring an additional 821,868 shares during the last quarter. American Century Companies Inc. increased its position in Blueprint Medicines by 4.2% during the second quarter. American Century Companies Inc. now owns 802,733 shares of the biotechnology company’s stock valued at $86,519,000 after acquiring an additional 32,600 shares during the last quarter. Hood River Capital Management LLC increased its position in Blueprint Medicines by 7.0% during the second quarter. Hood River Capital Management LLC now owns 502,820 shares of the biotechnology company’s stock valued at $54,194,000 after acquiring an additional 32,694 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its position in Blueprint Medicines by 200,159.4% during the second quarter. 1832 Asset Management L.P. now owns 502,651 shares of the biotechnology company’s stock valued at $54,176,000 after acquiring an additional 502,400 shares during the last quarter.

Insider Activity

In other news, insider Philina Lee sold 41,913 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the transaction, the insider now owns 34,729 shares in the company, valued at approximately $3,236,395.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Blueprint Medicines news, insider Philina Lee sold 41,913 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $93.19, for a total value of $3,905,872.47. Following the transaction, the insider now owns 34,729 shares in the company, valued at approximately $3,236,395.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Debra Durso-Bumpus sold 8,817 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $111.29, for a total value of $981,243.93. Following the completion of the sale, the insider now directly owns 43,763 shares of the company’s stock, valued at $4,870,384.27. The disclosure for this sale can be found here. Insiders have sold 54,580 shares of company stock worth $5,315,236 in the last quarter. Corporate insiders own 4.21% of the company’s stock.

Analyst Upgrades and Downgrades

BPMC has been the subject of a number of recent analyst reports. JMP Securities reissued a “market outperform” rating and set a $125.00 target price on shares of Blueprint Medicines in a research note on Friday, June 7th. Barclays boosted their target price on shares of Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Oppenheimer boosted their target price on shares of Blueprint Medicines from $114.00 to $125.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Baird R W upgraded shares of Blueprint Medicines to a “strong-buy” rating in a report on Friday, August 2nd. Finally, Guggenheim upped their price objective on shares of Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Blueprint Medicines currently has a consensus rating of “Moderate Buy” and an average price target of $120.00.

Blueprint Medicines Trading Up 2.4 %

Blueprint Medicines stock opened at $89.06 on Friday. The company has a current ratio of 3.71, a quick ratio of 3.65 and a debt-to-equity ratio of 1.06. Blueprint Medicines Co. has a 12 month low of $43.89 and a 12 month high of $121.90. The stock’s 50 day simple moving average is $95.53 and its two-hundred day simple moving average is $98.91. The firm has a market cap of $5.58 billion, a PE ratio of -18.52 and a beta of 0.58.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.49. Blueprint Medicines had a negative return on equity of 157.30% and a negative net margin of 56.64%. The firm had revenue of $138.20 million for the quarter, compared to analyst estimates of $104.02 million. During the same quarter last year, the firm posted ($2.19) EPS. The business’s revenue was up 139.9% on a year-over-year basis. Analysts anticipate that Blueprint Medicines Co. will post -3.99 earnings per share for the current year.

Blueprint Medicines 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.