Los Angeles Capital Management LLC Has $1.03 Million Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Los Angeles Capital Management LLC decreased its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 22.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,179 shares of the biotechnology company’s stock after selling 3,260 shares during the period. Los Angeles Capital Management LLC’s holdings in Blueprint Medicines were worth $1,034,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Triad Wealth Partners LLC acquired a new stake in shares of Blueprint Medicines in the 2nd quarter valued at $27,000. Covestor Ltd boosted its stake in Blueprint Medicines by 9,700.0% in the first quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 291 shares in the last quarter. Headlands Technologies LLC grew its position in Blueprint Medicines by 105.2% in the first quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock valued at $63,000 after acquiring an additional 342 shares during the last quarter. Natixis bought a new position in shares of Blueprint Medicines in the first quarter worth about $73,000. Finally, CWM LLC boosted its stake in shares of Blueprint Medicines by 114.6% in the 2nd quarter. CWM LLC now owns 1,105 shares of the biotechnology company’s stock valued at $119,000 after purchasing an additional 590 shares in the last quarter.

Insider Buying and Selling at Blueprint Medicines

In related news, insider Fouad Namouni sold 3,633 shares of the 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 transaction, the insider now directly owns 69,070 shares in the company, valued at $6,169,332.40. This trade represents a 5.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 4.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Wedbush reiterated an “outperform” rating and set a $135.00 price objective on shares of Blueprint Medicines in a research report on Thursday. HC Wainwright reissued a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a report on Thursday, October 31st. StockNews.com raised Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Baird R W raised Blueprint Medicines to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, UBS Group began coverage on Blueprint Medicines in a research note on Thursday, October 24th. They issued a “neutral” rating and a $88.00 price objective for the company. One 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 assigned a strong buy rating to the company. According to MarketBeat, Blueprint Medicines has an average rating of “Moderate Buy” and an average target price of $122.00.

Blueprint Medicines Price Performance

Blueprint Medicines stock opened at $95.65 on Friday. The stock 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 52-week low of $62.56 and a 52-week 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’s 50 day moving average price is $89.55 and its two-hundred day moving average price is $98.89.

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, beating the consensus estimate of ($0.97) by $0.08. The firm had revenue of $128.20 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 126.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($2.20) earnings per share. On average, equities analysts predict that Blueprint Medicines Co. will post -3.61 earnings per share for the current 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.