Connor Clark & Lunn Investment Management Ltd. Boosts Stake in Blueprint Medicines Co. (NASDAQ:BPMC)

Connor Clark & Lunn Investment Management Ltd. raised its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 2,680.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 142,717 shares of the biotechnology company’s stock after buying an additional 137,585 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.22% of Blueprint Medicines worth $12,448,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BPMC. Quarry LP purchased a new stake in Blueprint Medicines in the 3rd quarter valued at about $32,000. R Squared Ltd purchased a new stake in Blueprint Medicines in the 4th quarter valued at about $51,000. Covestor Ltd increased its stake in Blueprint Medicines by 206.7% in the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock valued at $55,000 after buying an additional 403 shares during the last quarter. Asset Management One Co. Ltd. purchased a new stake in Blueprint Medicines in the 4th quarter valued at about $88,000. Finally, Van ECK Associates Corp increased its stake in Blueprint Medicines by 48.2% in the 4th quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $97,000 after buying an additional 363 shares during the last quarter.

Blueprint Medicines Stock Down 0.3 %

Shares of NASDAQ:BPMC opened at $89.58 on Friday. The firm has a fifty day moving average price of $99.54 and a two-hundred day moving average price of $94.02. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80. Blueprint Medicines Co. has a one year low of $80.68 and a one year high of $121.90. The company has a market cap of $5.72 billion, a price-to-earnings ratio of -82.94 and a beta of 0.58.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. Analysts anticipate that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BPMC has been the subject of several analyst reports. Wedbush reiterated an “outperform” rating and issued a $128.00 price objective on shares of Blueprint Medicines in a research note on Friday, February 28th. JPMorgan Chase & Co. increased their target price on shares of Blueprint Medicines from $126.00 to $129.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Needham & Company LLC reissued a “buy” rating and set a $133.00 target price on shares of Blueprint Medicines in a research report on Thursday, February 13th. Stephens reissued an “overweight” rating and set a $140.00 target price on shares of Blueprint Medicines in a research report on Thursday, January 2nd. Finally, StockNews.com downgraded shares of Blueprint Medicines from a “hold” rating to a “sell” rating in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $125.21.

Insider Activity

In other news, Director Jeffrey W. Albers sold 15,161 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $109.53, for a total transaction of $1,660,584.33. Following the sale, the director now owns 152,396 shares in the company, valued at approximately $16,691,933.88. This trade represents a 9.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kate Haviland sold 1,446 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $110.24, for a total transaction of $159,407.04. Following the sale, the chief executive officer now owns 149,378 shares in the company, valued at approximately $16,467,430.72. This trade represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,608 shares of company stock worth $4,668,161. 4.21% of the stock is currently owned by corporate insiders.

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.