Valence8 US LP Purchases New Shares in Blueprint Medicines Co. (NASDAQ:BPMC)

Valence8 US LP acquired a new position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,618 shares of the biotechnology company’s stock, valued at approximately $242,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Amalgamated Bank lifted its position in shares of Blueprint Medicines by 5.3% in the 2nd quarter. Amalgamated Bank now owns 2,154 shares of the biotechnology company’s stock valued at $232,000 after acquiring an additional 109 shares in the last quarter. Van ECK Associates Corp raised its stake in Blueprint Medicines by 13.3% during the 2nd 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 during the period. EFG Asset Management North America Corp. lifted its holdings in shares of Blueprint Medicines by 0.5% in the second quarter. EFG Asset Management North America Corp. now owns 27,884 shares of the biotechnology company’s stock valued at $3,008,000 after purchasing an additional 132 shares in the last quarter. Pallas Capital Advisors LLC boosted its position in shares of Blueprint Medicines by 3.2% in the third quarter. Pallas Capital Advisors LLC now owns 5,657 shares of the biotechnology company’s stock worth $523,000 after buying an additional 176 shares during the period. Finally, US Bancorp DE grew its holdings in shares of Blueprint Medicines by 5.2% during the first quarter. US Bancorp DE now owns 3,724 shares of the biotechnology company’s stock valued at $353,000 after buying an additional 183 shares in the last quarter.

Insider Transactions at Blueprint Medicines

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of Blueprint Medicines stock in a transaction that occurred 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 of the company’s stock, valued at $6,169,332.40. The trade was a 5.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.21% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Robert W. Baird raised their price objective on Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a report on Friday, November 15th. Wedbush reiterated an “outperform” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research note on Thursday, November 14th. Baird R W upgraded shares of Blueprint Medicines to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company lowered their price target on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $122.11.

Blueprint Medicines Trading Up 2.0 %

Shares of BPMC stock opened at $96.66 on Friday. Blueprint Medicines Co. has a 12 month low of $65.68 and a 12 month high of $121.90. The company has a market cap of $6.14 billion, a PE ratio of -45.81 and a beta of 0.59. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09. The business’s 50 day moving average is $90.26 and its two-hundred day moving average is $98.69.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.08. The business had revenue of $128.20 million during the quarter, compared to the consensus estimate of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. Blueprint Medicines’s quarterly revenue was up 126.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($2.20) EPS. Equities analysts predict that Blueprint Medicines Co. will post -3.66 EPS for the current year.

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.