Covestor Ltd Has $55,000 Stock Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Covestor Ltd lifted its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 206.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 598 shares of the biotechnology company’s stock after buying an additional 403 shares during the period. Covestor Ltd’s holdings in Blueprint Medicines were worth $55,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BPMC. Allspring Global Investments Holdings LLC acquired a new position in Blueprint Medicines in the 1st quarter valued at approximately $218,000. SG Americas Securities LLC increased its holdings in Blueprint Medicines by 117.6% in the first quarter. SG Americas Securities LLC now owns 11,865 shares of the biotechnology company’s stock valued at $1,126,000 after purchasing an additional 6,412 shares during the period. Swiss National Bank raised its position in Blueprint Medicines by 0.4% during the 1st quarter. Swiss National Bank now owns 114,000 shares of the biotechnology company’s stock worth $10,814,000 after purchasing an additional 500 shares during the last quarter. Sei Investments Co. lifted its holdings in Blueprint Medicines by 36.6% during the 1st quarter. Sei Investments Co. now owns 45,913 shares of the biotechnology company’s stock worth $4,355,000 after buying an additional 12,311 shares during the period. Finally, Headlands Technologies LLC grew its position in shares of Blueprint Medicines by 105.2% in the 1st quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock valued at $63,000 after buying an additional 342 shares during the last quarter.

Insider Buying and Selling

In other Blueprint Medicines 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 value of $324,499.56. Following the completion of the sale, the insider now directly owns 69,070 shares of the company’s stock, valued at approximately $6,169,332.40. This represents a 5.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.21% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BPMC shares. Wedbush reaffirmed an “outperform” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research note on Thursday. HC Wainwright reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research note on Thursday, October 31st. UBS Group assumed coverage on shares of Blueprint Medicines in a research note on Thursday, October 24th. They set a “neutral” rating and a $88.00 target price for the company. JPMorgan Chase & Co. started coverage on shares of Blueprint Medicines in a research report on Thursday. They set an “overweight” rating and a $126.00 price target on the stock. Finally, StockNews.com upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $122.00.

Blueprint Medicines Stock Down 1.3 %

Blueprint Medicines stock opened at $95.65 on Friday. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09. The firm’s fifty day moving average price is $89.55 and its two-hundred day moving average price is $98.89. The firm has a market capitalization of $6.08 billion, a price-to-earnings ratio of -45.33 and a beta of 0.59. Blueprint Medicines Co. has a 1-year low of $62.56 and a 1-year high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly 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. The business had revenue of $128.20 million during the quarter, compared to the consensus estimate of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The company’s quarterly revenue was up 126.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($2.20) EPS. On average, equities research analysts predict that Blueprint Medicines Co. will post -3.61 earnings per share for the current fiscal 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.