Pallas Capital Advisors LLC Has $523,000 Stock Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Pallas Capital Advisors LLC lifted its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 3.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,657 shares of the biotechnology company’s stock after buying an additional 176 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Blueprint Medicines were worth $523,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Blueprint Medicines by 22.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,291 shares of the biotechnology company’s stock worth $212,000 after purchasing an additional 422 shares during the period. Values First Advisors Inc. bought a new position in shares of Blueprint Medicines in the third quarter worth $122,000. Allspring Global Investments Holdings LLC increased its position in shares of Blueprint Medicines by 40.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,206 shares of the biotechnology company’s stock worth $297,000 after purchasing an additional 927 shares during the period. Teamwork Financial Advisors LLC bought a new position in shares of Blueprint Medicines in the third quarter worth $250,000. Finally, NBC Securities Inc. increased its position in shares of Blueprint Medicines by 748.9% in the third quarter. NBC Securities Inc. now owns 2,725 shares of the biotechnology company’s stock worth $252,000 after purchasing an additional 2,404 shares during the period.

Wall Street Analysts Forecast Growth

BPMC has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on Blueprint Medicines from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Friday, July 12th. Oppenheimer raised their price target on Blueprint Medicines from $114.00 to $125.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Needham & Company LLC reiterated a “buy” rating and issued a $133.00 target price on shares of Blueprint Medicines in a research report on Wednesday. Robert W. Baird lifted their target price on Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Baird R W upgraded Blueprint Medicines to a “strong-buy” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $118.39.

Insider Buying and Selling

In related news, insider Fouad Namouni sold 3,633 shares of Blueprint Medicines stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total value of $324,499.56. Following the transaction, the insider now directly owns 69,070 shares of the company’s stock, valued at $6,169,332.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Blueprint Medicines news, insider Philina Lee sold 41,913 shares of the business’s stock in a transaction that occurred 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 directly owns 34,729 shares of the company’s stock, valued at approximately $3,236,395.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Fouad Namouni sold 3,633 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total value of $324,499.56. Following the transaction, the insider now owns 69,070 shares in the company, valued at $6,169,332.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.21% of the stock is owned by insiders.

Blueprint Medicines Stock Performance

NASDAQ:BPMC opened at $89.24 on Thursday. The stock’s 50-day moving average is $88.98 and its 200-day moving average is $98.43. The company has a current ratio of 3.71, a quick ratio of 3.65 and a debt-to-equity ratio of 1.06. The stock has a market cap of $5.59 billion, a P/E ratio of -18.55 and a beta of 0.58. Blueprint Medicines Co. has a 1-year low of $53.73 and a 1-year high of $121.90.

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