Blueprint Medicines Co. (NASDAQ:BPMC) Shares Sold by Alkeon Capital Management LLC

Alkeon Capital Management LLC lessened its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 19.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 718,928 shares of the biotechnology company’s stock after selling 175,000 shares during the period. Alkeon Capital Management LLC owned approximately 1.13% of Blueprint Medicines worth $66,501,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Millennium Management LLC grew its stake in shares of Blueprint Medicines by 540.0% in the second quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company’s stock worth $67,646,000 after purchasing an additional 529,566 shares in the last quarter. 1832 Asset Management L.P. grew its position in Blueprint Medicines by 200,159.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 502,651 shares of the biotechnology company’s stock valued at $54,176,000 after buying an additional 502,400 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Blueprint Medicines by 79.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 501,581 shares of the biotechnology company’s stock valued at $54,060,000 after buying an additional 221,813 shares during the period. Clearbridge Investments LLC bought a new stake in shares of Blueprint Medicines during the 2nd quarter worth about $23,817,000. Finally, First Turn Management LLC bought a new position in shares of Blueprint Medicines in the second quarter valued at approximately $19,929,000.

Insider Buying and Selling

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.21% of the stock is owned by insiders.

Blueprint Medicines Price Performance

NASDAQ BPMC opened at $95.10 on Friday. The firm has a market cap of $6.04 billion, a P/E ratio of -45.07 and a beta of 0.59. The stock’s 50-day moving average is $90.79 and its two-hundred day moving average is $98.25. Blueprint Medicines Co. has a fifty-two week low of $67.00 and a fifty-two week 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.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.08. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The business had revenue of $128.20 million for the quarter, compared to the consensus estimate of $127.56 million. During the same period last year, the business earned ($2.20) EPS. The firm’s revenue was up 126.5% compared to the same quarter last year. On average, analysts anticipate that Blueprint Medicines Co. will post -3.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BPMC. Wedbush restated an “outperform” rating and issued a $135.00 target price on shares of Blueprint Medicines in a research report on Thursday, November 14th. Needham & Company LLC reissued a “buy” rating and set a $135.00 target price on shares of Blueprint Medicines in a research note on Friday, November 15th. Guggenheim increased their price objective on Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. JMP Securities reissued a “market outperform” rating and issued a $125.00 price target on shares of Blueprint Medicines in a research note on Monday, November 18th. Finally, UBS Group began coverage on shares of Blueprint Medicines in a research report on Thursday, October 24th. They issued a “neutral” rating and a $88.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Blueprint Medicines has a consensus rating of “Moderate Buy” and an average target price 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.