Sanctuary Advisors LLC Makes New Investment in Blueprint Medicines Co. (NASDAQ:BPMC)

Sanctuary Advisors LLC bought a new position in Blueprint Medicines Co. (NASDAQ:BPMC) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 2,144 shares of the biotechnology company’s stock, valued at approximately $202,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quarry LP purchased a new stake in Blueprint Medicines in the third quarter worth $32,000. Covestor Ltd increased its position in 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 period. Quantbot Technologies LP bought a new position in Blueprint Medicines in the third quarter worth approximately $108,000. Van ECK Associates Corp lifted its stake in shares of Blueprint Medicines by 13.3% during the 2nd quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock worth $120,000 after purchasing an additional 131 shares during the last quarter. Finally, Values First Advisors Inc. bought a new position in Blueprint Medicines in the third quarter worth about $122,000.

Blueprint Medicines Stock Down 2.4 %

Shares of BPMC opened at $89.40 on Monday. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09. Blueprint Medicines Co. has a fifty-two week low of $72.24 and a fifty-two week high of $121.90. The firm has a market cap of $5.68 billion, a PE ratio of -42.37 and a beta of 0.59. The company’s fifty day moving average is $92.74 and its two-hundred day moving average is $96.60.

Blueprint Medicines (NASDAQ:BPMC) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.08. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The business had revenue of $128.20 million during the quarter, compared to analyst estimates of $127.56 million. During the same quarter last year, the firm earned ($2.20) earnings per share. The company’s revenue for the quarter was up 126.5% compared to the same quarter last year. Analysts forecast that Blueprint Medicines Co. will post -3.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BPMC shares. HC Wainwright restated a “buy” rating and set a $135.00 target price on shares of Blueprint Medicines in a research note on Friday, November 15th. Needham & Company LLC restated a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research note on Friday, November 15th. JMP Securities reaffirmed a “market outperform” rating and issued a $125.00 price target on shares of Blueprint Medicines in a report on Monday, December 9th. StockNews.com upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Wedbush restated an “outperform” rating and issued a $135.00 target price on shares of Blueprint Medicines in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $123.33.

Insider Buying and Selling

In other 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey W. Albers sold 15,000 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $89.77, for a total value of $1,346,550.00. Following the transaction, the director now owns 157,557 shares of the company’s stock, valued at $14,143,891.89. This trade represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,353 shares of company stock worth $2,502,346. 4.21% of the stock is currently owned by corporate insiders.

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.