BNP PARIBAS ASSET MANAGEMENT Holding S.A. Invests $6.47 Million in Blueprint Medicines Co. (NASDAQ:BPMC)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Blueprint Medicines Co. (NASDAQ:BPMC) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 69,887 shares of the biotechnology company’s stock, valued at approximately $6,465,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.11% of Blueprint Medicines at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Triad Wealth Partners LLC acquired a new stake in shares of Blueprint Medicines in the second quarter valued at about $27,000. Covestor Ltd increased its stake in Blueprint Medicines by 206.7% during the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock worth $55,000 after buying an additional 403 shares in the last quarter. Natixis purchased a new stake in Blueprint Medicines during the 1st quarter worth approximately $73,000. CWM LLC raised its holdings in shares of Blueprint Medicines by 114.6% during the second quarter. CWM LLC now owns 1,105 shares of the biotechnology company’s stock valued at $119,000 after acquiring an additional 590 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Blueprint Medicines by 13.3% in the second quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock worth $120,000 after acquiring an additional 131 shares during the last quarter.

Blueprint Medicines Trading Down 2.6 %

Shares of NASDAQ BPMC opened at $94.15 on Monday. The stock has a fifty day simple moving average of $90.36 and a 200-day simple moving average of $98.46. Blueprint Medicines Co. has a twelve month low of $66.61 and a twelve month high of $121.90. 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 stock has a market capitalization of $5.98 billion, a PE ratio of -44.62 and a beta of 0.59.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) 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 company had revenue of $128.20 million for the quarter, compared to analyst estimates of $127.56 million. During the same period in the prior year, the firm earned ($2.20) earnings per share. The business’s revenue for the quarter was up 126.5% compared to the same quarter last year. On average, equities analysts forecast that Blueprint Medicines Co. will post -3.68 earnings per share for the current year.

Insider Buying and Selling at Blueprint Medicines

In other 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 sale, the insider now directly owns 69,070 shares in the company, valued at approximately $6,169,332.40. This trade represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 research analysts have weighed in on BPMC shares. Barclays raised their price objective on Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Robert W. Baird upped their price objective on shares of Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Guggenheim raised their target price on shares of Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. HC Wainwright restated a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a research report on Friday, November 15th. Finally, JMP Securities reiterated a “market outperform” rating and set a $125.00 price objective on shares of Blueprint Medicines in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Blueprint Medicines has an average rating of “Moderate Buy” and a consensus price target of $122.11.

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.