Nicholas Investment Partners LP Invests $4.38 Million in Blueprint Medicines Co. (NASDAQ:BPMC)

Nicholas Investment Partners LP bought a new position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 40,611 shares of the biotechnology company’s stock, valued at approximately $4,377,000. Nicholas Investment Partners LP owned approximately 0.06% of Blueprint Medicines as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Triad Wealth Partners LLC acquired a new stake in shares of Blueprint Medicines during the 2nd quarter worth about $27,000. Covestor Ltd grew its stake in shares of Blueprint Medicines by 9,700.0% in the 1st quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 291 shares during the last quarter. Headlands Technologies LLC grew its stake in shares of Blueprint Medicines by 105.2% in the 1st quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock valued at $63,000 after purchasing an additional 342 shares during the last quarter. Natixis purchased a new position in shares of Blueprint Medicines in the 1st quarter valued at approximately $73,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Blueprint Medicines in the 4th quarter valued at approximately $95,000.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, insider Philina Lee sold 41,913 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the completion of the sale, the insider now owns 34,729 shares of the company’s stock, valued at $3,236,395.51. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Blueprint Medicines news, insider Philina Lee sold 41,913 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the completion of the sale, the insider now owns 34,729 shares of the company’s stock, valued at $3,236,395.51. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Debra Durso-Bumpus sold 3,850 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $111.20, for a total value of $428,120.00. Following the completion of the sale, the insider now directly owns 43,763 shares of the company’s stock, valued at approximately $4,866,445.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 128,947 shares of company stock valued at $13,065,852. Company insiders own 4.21% of the company’s stock.

Blueprint Medicines Price Performance

Shares of NASDAQ:BPMC opened at $86.56 on Thursday. The company has a market cap of $5.42 billion, a P/E ratio of -18.00 and a beta of 0.58. The company has a quick ratio of 3.65, a current ratio of 3.71 and a debt-to-equity ratio of 1.06. Blueprint Medicines Co. has a 52 week low of $43.89 and a 52 week high of $121.90. The business has a fifty day simple moving average of $101.48 and a 200-day simple moving average of $99.32.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.80) EPS for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.49. The business had revenue of $138.20 million during the quarter, compared to the consensus estimate of $104.02 million. Blueprint Medicines had a negative return on equity of 157.30% and a negative net margin of 56.64%. The business’s revenue for the quarter was up 139.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($2.19) earnings per share. Equities research analysts forecast that Blueprint Medicines Co. will post -3.99 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Guggenheim lifted their target price on Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Oppenheimer raised their price target on Blueprint Medicines from $114.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Needham & Company LLC reissued a “buy” rating and issued a $130.00 price target on shares of Blueprint Medicines in a report on Thursday, August 1st. Morgan Stanley raised their price target on Blueprint Medicines from $110.00 to $115.00 and gave the company an “equal weight” rating in a report on Friday, July 12th. Finally, Baird R W raised Blueprint Medicines to a “strong-buy” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.00.

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.