Martingale Asset Management L P Purchases 1,098 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Martingale Asset Management L P grew its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 7.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,603 shares of the biotechnology company’s stock after purchasing an additional 1,098 shares during the period. Martingale Asset Management L P’s holdings in Blueprint Medicines were worth $1,443,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Triad Wealth Partners LLC bought a new stake in shares of Blueprint Medicines in the second quarter valued at about $27,000. Covestor Ltd lifted its holdings in shares of Blueprint Medicines by 206.7% in the third quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 403 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Blueprint Medicines in the third quarter valued at about $108,000. CWM LLC lifted its holdings in shares of Blueprint Medicines by 114.6% in the second 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. Finally, Van ECK Associates Corp lifted its holdings 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 valued at $120,000 after purchasing an additional 131 shares in the last quarter.

Blueprint Medicines Trading Up 1.3 %

Shares of NASDAQ:BPMC opened at $96.38 on Monday. The company has a market capitalization of $6.12 billion, a P/E ratio of -45.68 and a beta of 0.59. Blueprint Medicines Co. has a 1 year low of $68.28 and a 1 year high of $121.90. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. The business’s 50 day simple moving average is $90.97 and its 200 day simple moving average is $98.10.

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. The business had revenue of $128.20 million for 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 firm’s quarterly revenue was up 126.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($2.20) earnings per share. On average, research analysts anticipate that Blueprint Medicines Co. will post -3.68 EPS for the current fiscal year.

Insider Buying and Selling

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total transaction of $324,499.56. Following the completion of the sale, the insider now directly owns 69,070 shares in the company, valued at $6,169,332.40. This represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.21% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. JMP Securities reiterated a “market outperform” rating and set a $125.00 target price on shares of Blueprint Medicines in a report on Monday, November 18th. Needham & Company LLC reiterated a “buy” rating and set a $135.00 target price on shares of Blueprint Medicines in a report on Friday, November 15th. HC Wainwright reiterated a “buy” rating and set a $135.00 target price on shares of Blueprint Medicines in a report on Friday, November 15th. UBS Group began coverage on Blueprint Medicines in a report on Thursday, October 24th. They set a “neutral” rating and a $88.00 target price on the stock. Finally, JPMorgan Chase & Co. began coverage on Blueprint Medicines in a research note on Thursday, November 14th. They issued an “overweight” rating and a $126.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $122.11.

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.