Citigroup Inc. Grows Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Citigroup Inc. raised its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 19.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 143,441 shares of the biotechnology company’s stock after acquiring an additional 23,189 shares during the quarter. Citigroup Inc. owned approximately 0.23% of Blueprint Medicines worth $13,268,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hsbc Holdings PLC purchased a new stake in shares of Blueprint Medicines during the 2nd quarter worth $1,060,000. Comerica Bank lifted its holdings in Blueprint Medicines by 2,582.9% during the 1st quarter. Comerica Bank now owns 10,839 shares of the biotechnology company’s stock worth $1,028,000 after buying an additional 10,435 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of Blueprint Medicines by 27.8% in the 2nd quarter. Federated Hermes Inc. now owns 62,354 shares of the biotechnology company’s stock valued at $6,721,000 after acquiring an additional 13,579 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Blueprint Medicines by 82.8% during the 2nd quarter. SG Americas Securities LLC now owns 21,684 shares of the biotechnology company’s stock worth $2,337,000 after acquiring an additional 9,819 shares in the last quarter. Finally, Nicholas Investment Partners LP purchased a new stake in Blueprint Medicines during the second quarter worth approximately $4,377,000.

Analyst Ratings Changes

BPMC has been the topic of a number of research analyst reports. HC Wainwright reissued a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, November 15th. Baird R W upgraded shares of Blueprint Medicines to a “strong-buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. initiated coverage on Blueprint Medicines in a research report on Thursday, November 14th. They set an “overweight” rating and a $126.00 target price on the stock. JMP Securities reissued a “market outperform” rating and issued a $125.00 target price on shares of Blueprint Medicines in a research report on Monday, November 18th. Finally, Robert W. Baird lifted their price target on Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. One equities 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $122.11.

Insider Activity

In other news, insider Fouad Namouni sold 3,633 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 69,070 shares in the company, valued at $6,169,332.40. This trade represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 4.21% of the company’s stock.

Blueprint Medicines Trading Up 0.5 %

NASDAQ:BPMC opened at $95.10 on Friday. Blueprint Medicines Co. has a 1 year low of $67.00 and a 1 year high of $121.90. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32. The stock has a fifty day moving average price of $90.79 and a two-hundred day moving average price of $98.25. The stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of -45.07 and a beta of 0.59.

Blueprint Medicines (NASDAQ:BPMC) last announced 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 net margin of 29.48% and a negative return on equity of 112.30%. The business’s revenue was up 126.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($2.20) EPS. As a group, sell-side analysts anticipate that Blueprint Medicines Co. will post -3.68 earnings per share for the current fiscal year.

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.