Pictet Asset Management Ltd. lifted its holdings in Blueprint Medicines Corp (NASDAQ:BPMC) by 3.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 764,664 shares of the biotechnology company’s stock after buying an additional 27,126 shares during the quarter. Pictet Asset Management Ltd. owned approximately 1.74% of Blueprint Medicines worth $59,690,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Xact Kapitalforvaltning AB boosted its stake in shares of Blueprint Medicines by 15.0% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 6,151 shares of the biotechnology company’s stock valued at $390,000 after purchasing an additional 800 shares during the last quarter. Bank of Montreal Can bought a new position in Blueprint Medicines during the 2nd quarter worth approximately $154,000. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Blueprint Medicines by 336.6% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 26,240 shares of the biotechnology company’s stock worth $1,666,000 after acquiring an additional 20,230 shares during the last quarter. Fiera Capital Corp bought a new position in Blueprint Medicines during the 2nd quarter worth approximately $2,229,000. Finally, Jennison Associates LLC boosted its stake in Blueprint Medicines by 6.0% during the 2nd quarter. Jennison Associates LLC now owns 220,882 shares of the biotechnology company’s stock worth $14,022,000 after acquiring an additional 12,408 shares during the last quarter.
Blueprint Medicines stock opened at $56.72 on Friday. Blueprint Medicines Corp has a fifty-two week low of $50.51 and a fifty-two week high of $109.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.05 and a current ratio of 10.05.
Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Tuesday, October 30th. The biotechnology company reported ($1.66) EPS for the quarter, missing the consensus estimate of ($1.57) by ($0.09). The company had revenue of $1.10 million for the quarter, compared to analyst estimates of $1.87 million. Blueprint Medicines had a negative return on equity of 36.72% and a negative net margin of 455.15%. The business’s quarterly revenue was down 86.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.96) earnings per share. On average, sell-side analysts forecast that Blueprint Medicines Corp will post -5.25 earnings per share for the current fiscal year.
Several research analysts recently weighed in on the stock. Guggenheim assumed coverage on shares of Blueprint Medicines in a research note on Tuesday, September 18th. They set a “buy” rating and a $102.00 price objective on the stock. BidaskClub raised shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Saturday, September 1st. ValuEngine lowered shares of Blueprint Medicines from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 24th. Wedbush reissued an “outperform” rating and set a $101.00 price objective on shares of Blueprint Medicines in a research note on Monday, October 22nd. Finally, Cowen reissued a “buy” rating on shares of Blueprint Medicines in a research note on Sunday, October 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. Blueprint Medicines currently has a consensus rating of “Buy” and a consensus price target of $97.14.
In other Blueprint Medicines news, CEO Jeffrey W. Albers sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $63.49, for a total transaction of $1,269,800.00. Following the sale, the chief executive officer now directly owns 20,000 shares in the company, valued at approximately $1,269,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Marion Dorsch sold 2,300 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $70.47, for a total transaction of $162,081.00. Following the sale, the insider now owns 2,300 shares in the company, valued at $162,081. The disclosure for this sale can be found here. Company insiders own 3.15% of the company’s stock.
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Blueprint Medicines Profile
Blueprint Medicines Corporation, a biopharmaceutical company, develops drugs of small molecule kinase inhibitors that target genomic drivers in various cancers and a rare genetic disease. Its lead drug candidates include avapritinib, which is in Phase I clinical trials that targets KIT Exon 17 mutant proteins and PDGFRa D842V mutations, that are drivers of cancer and proliferative disorders, including gastrointestinal stromal tumors and systemic mastocytosis; and BLU-554, which is in Phase I clinical trials an orally available, potent, and irreversible inhibitor of the kinase FGFR4 that is activated in a defined subset of patients with hepatocellular carcinoma.
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