Verition Fund Management LLC Boosts Stock Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Verition Fund Management LLC grew its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 77.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,759 shares of the biotechnology company’s stock after purchasing an additional 4,260 shares during the quarter. Verition Fund Management LLC’s holdings in Blueprint Medicines were worth $903,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BPMC. Triad Wealth Partners LLC bought a new position in Blueprint Medicines during the second quarter valued at approximately $27,000. Covestor Ltd grew its holdings in shares of Blueprint Medicines by 206.7% during the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 403 shares during the last quarter. Quantbot Technologies LP purchased a new position in Blueprint Medicines in the 3rd quarter worth $108,000. CWM LLC lifted its stake in Blueprint Medicines by 114.6% in the second quarter. CWM LLC now owns 1,105 shares of the biotechnology company’s stock worth $119,000 after purchasing an additional 590 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in Blueprint Medicines by 13.3% during the second quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $120,000 after buying an additional 131 shares during the period.

Blueprint Medicines Stock Up 0.9 %

NASDAQ:BPMC opened at $95.97 on Monday. 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 firm’s 50-day moving average price is $91.62 and its 200-day moving average price is $97.75. The company has a market capitalization of $6.10 billion, a PE ratio of -45.48 and a beta of 0.59. Blueprint Medicines Co. has a 1-year low of $71.97 and a 1-year high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.08. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The business had revenue of $128.20 million for the quarter, compared to analysts’ expectations of $127.56 million. During the same quarter in the prior year, the company earned ($2.20) earnings per share. The business’s revenue was up 126.5% compared to the same quarter last year. On average, equities analysts predict that Blueprint Medicines Co. will post -3.68 EPS for the current fiscal year.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $95.10, for a total transaction of $216,257.40. Following the completion of the sale, the chief operating officer now directly owns 71,657 shares in the company, valued at approximately $6,814,580.70. This trade represents a 3.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Fouad Namouni sold 3,633 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders sold a total of 8,260 shares of company stock valued at $768,057 in the last 90 days. Corporate insiders own 4.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BPMC shares. HC Wainwright reissued a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a research note on Friday, November 15th. Wells Fargo & Company dropped their price objective on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and issued a $125.00 target price on shares of Blueprint Medicines in a research note on Monday, November 18th. 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. Finally, StockNews.com raised shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Blueprint Medicines currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.11.

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.