Gotham Asset Management LLC Makes New $309,000 Investment in Blueprint Medicines Co. (NASDAQ:BPMC)

Gotham Asset Management LLC bought a new stake in Blueprint Medicines Co. (NASDAQ:BPMC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,545 shares of the biotechnology company’s stock, valued at approximately $309,000.

Other large investors also recently made changes to their positions in the company. Cerity Partners LLC acquired a new position in shares of Blueprint Medicines in the 4th quarter valued at about $291,000. Stephens Inc. AR acquired a new position in shares of Blueprint Medicines in the 4th quarter valued at about $321,000. Bank of New York Mellon Corp increased its holdings in shares of Blueprint Medicines by 2.4% in the 4th quarter. Bank of New York Mellon Corp now owns 303,432 shares of the biotechnology company’s stock valued at $26,465,000 after purchasing an additional 7,101 shares during the period. KBC Group NV increased its holdings in shares of Blueprint Medicines by 63.9% in the 4th quarter. KBC Group NV now owns 2,625 shares of the biotechnology company’s stock valued at $229,000 after purchasing an additional 1,023 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Blueprint Medicines in the 4th quarter valued at about $21,104,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BPMC shares. Morgan Stanley started coverage on Blueprint Medicines in a report on Thursday, March 20th. They issued an “equal weight” rating and a $100.00 target price on the stock. Piper Sandler boosted their price target on Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Wolfe Research began coverage on Blueprint Medicines in a research note on Tuesday, March 18th. They issued an “outperform” rating for the company. JMP Securities reissued a “market outperform” rating and issued a $125.00 price target on shares of Blueprint Medicines in a research note on Friday, February 14th. Finally, HC Wainwright reissued a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a research note on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $126.56.

Insider Buying and Selling

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction on Monday, March 24th. The stock was sold at an average price of $95.02, for a total transaction of $216,075.48. Following the completion of the transaction, the chief operating officer now directly owns 69,266 shares of the company’s stock, valued at approximately $6,581,655.32. This trade represents a 3.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ariel Hurley sold 3,203 shares of Blueprint Medicines stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.62, for a total value of $296,661.86. Following the transaction, the insider now directly owns 18,270 shares of the company’s stock, valued at approximately $1,692,167.40. The trade was a 14.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,503 shares of company stock valued at $1,027,931 over the last ninety days. 4.21% of the stock is owned by company insiders.

Blueprint Medicines Trading Up 1.8%

Shares of BPMC stock opened at $103.00 on Wednesday. The business’s 50 day moving average is $90.13 and its two-hundred day moving average is $94.53. The company has a market cap of $6.65 billion, a PE ratio of -95.37 and a beta of 0.83. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15. Blueprint Medicines Co. has a 12 month low of $73.04 and a 12 month high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings data on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.32). The company had revenue of $149.41 million during the quarter, compared to analyst estimates of $158.31 million. Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. The company’s revenue was up 55.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.40 EPS. Equities analysts predict that Blueprint Medicines Co. will post -1.28 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.