Quantbot Technologies LP Buys Shares of 1,164 Blueprint Medicines Co. (NASDAQ:BPMC)

Quantbot Technologies LP purchased a new position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) in the third quarter, HoldingsChannel reports. The firm purchased 1,164 shares of the biotechnology company’s stock, valued at approximately $108,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Millennium Management LLC boosted its stake in Blueprint Medicines by 540.0% during the second quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company’s stock worth $67,646,000 after buying an additional 529,566 shares during the period. 1832 Asset Management L.P. boosted its position in shares of Blueprint Medicines by 200,159.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 502,651 shares of the biotechnology company’s stock worth $54,176,000 after purchasing an additional 502,400 shares during the period. Point72 Asset Management L.P. increased its holdings in Blueprint Medicines by 79.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 501,581 shares of the biotechnology company’s stock valued at $54,060,000 after purchasing an additional 221,813 shares during the last quarter. Clearbridge Investments LLC purchased a new stake in Blueprint Medicines in the second quarter valued at approximately $23,817,000. Finally, First Turn Management LLC acquired a new position in Blueprint Medicines during the second quarter worth $19,929,000.

Insider Buying and Selling at Blueprint Medicines

In other news, COO Christina Rossi sold 2,274 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $95.10, for a total value of $216,257.40. Following the completion of the sale, the chief operating officer now directly owns 71,657 shares of the company’s stock, valued at approximately $6,814,580.70. This represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Fouad Namouni sold 3,633 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $6,169,332.40. This represents a 5.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,260 shares of company stock worth $768,057. 4.21% of the stock is owned by insiders.

Blueprint Medicines Trading Up 0.9 %

NASDAQ BPMC opened at $95.97 on Friday. The firm’s fifty day moving average price is $91.62 and its 200 day moving average price is $97.83. Blueprint Medicines Co. has a 12 month low of $71.97 and a 12 month high of $121.90. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of -45.48 and a beta of 0.59.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) 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 analyst estimates of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The business’s quarterly revenue was up 126.5% compared to the same quarter last year. During the same quarter last year, the company posted ($2.20) earnings per share. On average, sell-side analysts expect that Blueprint Medicines Co. will post -3.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BPMC has been the topic of several research analyst reports. StockNews.com upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a research report on Friday, November 15th. Wedbush restated an “outperform” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a report on Thursday, November 14th. UBS Group assumed coverage on shares of Blueprint Medicines in a report on Thursday, October 24th. They set a “neutral” rating and a $88.00 target price on the stock. Finally, JPMorgan Chase & Co. started coverage on shares of Blueprint Medicines in a research note on Thursday, November 14th. They issued an “overweight” rating and a $126.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $122.11.

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.