Connor Clark & Lunn Investment Management Ltd. Buys Shares of 5,132 Blueprint Medicines Co. (NASDAQ:BPMC)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,132 shares of the biotechnology company’s stock, valued at approximately $475,000.

A number of other large investors also recently bought and sold shares of BPMC. Triad Wealth Partners LLC bought a new stake in shares of Blueprint Medicines during the second quarter worth $27,000. Covestor Ltd boosted its position in Blueprint Medicines by 206.7% in the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock valued at $55,000 after buying an additional 403 shares during the period. CWM LLC raised its stake in shares of Blueprint Medicines by 114.6% during the second quarter. CWM LLC now owns 1,105 shares of the biotechnology company’s stock valued at $119,000 after acquiring an additional 590 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Blueprint Medicines by 13.3% in the second quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $120,000 after purchasing an additional 131 shares during the period. Finally, Values First Advisors Inc. bought a new position in Blueprint Medicines in the third quarter worth approximately $122,000.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BPMC. UBS Group initiated coverage on Blueprint Medicines in a research note on Thursday, October 24th. They set a “neutral” rating and a $88.00 price target on the stock. JPMorgan Chase & Co. initiated coverage on shares of Blueprint Medicines in a research note on Thursday, November 14th. They issued an “overweight” rating and a $126.00 price objective for the company. Robert W. Baird upped their target price on Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Wells Fargo & Company cut their price target on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $125.00 target price on shares of Blueprint Medicines in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $122.11.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were 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 owns 69,070 shares in the company, valued at approximately $6,169,332.40. This represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 4.21% of the stock is owned by company insiders.

Blueprint Medicines Trading Up 1.3 %

Blueprint Medicines stock opened at $96.38 on Friday. Blueprint Medicines Co. has a 52 week low of $68.28 and a 52 week high of $121.90. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $6.12 billion, a price-to-earnings ratio of -45.91 and a beta of 0.59. The stock has a 50-day moving average price of $90.87 and a 200 day moving average price of $98.23.

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. Sell-side 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.