Eventide Asset Management LLC Acquires 117,019 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Eventide Asset Management LLC lifted its holdings in Blueprint Medicines Co. (NASDAQ:BPMC) by 50.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 348,704 shares of the biotechnology company’s stock after purchasing an additional 117,019 shares during the period. Eventide Asset Management LLC owned about 0.55% of Blueprint Medicines worth $32,255,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Hsbc Holdings PLC bought a new position in shares of Blueprint Medicines in the 2nd quarter worth approximately $1,060,000. Comerica Bank lifted its stake in shares of Blueprint Medicines by 2,582.9% in the 1st quarter. Comerica Bank now owns 10,839 shares of the biotechnology company’s stock worth $1,028,000 after purchasing an additional 10,435 shares during the period. Federated Hermes Inc. lifted its stake in shares of Blueprint Medicines by 27.8% in the 2nd quarter. Federated Hermes Inc. now owns 62,354 shares of the biotechnology company’s stock worth $6,721,000 after purchasing an additional 13,579 shares during the period. SG Americas Securities LLC lifted its stake in shares of Blueprint Medicines by 82.8% in the 2nd quarter. SG Americas Securities LLC now owns 21,684 shares of the biotechnology company’s stock worth $2,337,000 after purchasing an additional 9,819 shares during the period. Finally, Nicholas Investment Partners LP bought a new position in shares of Blueprint Medicines in the 2nd quarter worth approximately $4,377,000.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Guggenheim lifted their price target on shares of Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Wells Fargo & Company lowered their target price on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. JPMorgan Chase & Co. started coverage on Blueprint Medicines in a research note on Thursday, November 14th. They issued an “overweight” rating and a $126.00 price target for the company. JMP Securities restated 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, Wedbush reaffirmed an “outperform” rating and set a $135.00 price objective on shares of Blueprint Medicines in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Blueprint Medicines presently has an average rating of “Moderate Buy” and a consensus target price of $122.11.

Insider Activity

In other news, insider Fouad Namouni sold 3,633 shares of Blueprint Medicines 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 approximately $6,169,332.40. This trade 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 can be accessed through this link. Corporate insiders own 4.21% of the company’s stock.

Blueprint Medicines Price Performance

NASDAQ:BPMC opened at $95.10 on Friday. The firm has a market capitalization of $6.04 billion, a price-to-earnings ratio of -45.07 and a beta of 0.59. Blueprint Medicines Co. has a 1 year low of $67.00 and a 1 year high of $121.90. The business has a 50 day simple moving average of $90.79 and a 200-day simple moving average of $98.25. 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 posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.97) by $0.08. The business had revenue of $128.20 million during the quarter, compared to analyst estimates of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The company’s revenue for the quarter was up 126.5% on a year-over-year basis. During the same period last year, the company earned ($2.20) EPS. Equities analysts forecast that Blueprint Medicines Co. will post -3.68 EPS for the current year.

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.