Point72 Asset Management L.P. Buys Shares of 209,729 Blueprint Medicines Corp (NASDAQ:BPMC)

Point72 Asset Management L.P. bought a new stake in shares of Blueprint Medicines Corp (NASDAQ:BPMC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 209,729 shares of the biotechnology company’s stock, valued at approximately $16,801,000.

Other large investors also recently made changes to their positions in the company. Allworth Financial LP acquired a new position in shares of Blueprint Medicines during the 4th quarter valued at about $27,000. Aigen Investment Management LP bought a new position in shares of Blueprint Medicines in the 4th quarter valued at approximately $30,000. Nisa Investment Advisors LLC raised its stake in shares of Blueprint Medicines by 64.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 460 shares of the biotechnology company’s stock valued at $37,000 after acquiring an additional 180 shares in the last quarter. NumerixS Investment Technologies Inc acquired a new stake in Blueprint Medicines in the 4th quarter worth approximately $46,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in Blueprint Medicines in the 4th quarter worth approximately $62,000. 93.77% of the stock is owned by institutional investors.

A number of brokerages have issued reports on BPMC. Wedbush reaffirmed an “outperform” rating on shares of Blueprint Medicines in a research report on Tuesday. BMO Capital Markets raised shares of Blueprint Medicines from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $74.00 to $89.00 in a research report on Tuesday, March 17th. ValuEngine upgraded shares of Blueprint Medicines from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. SVB Leerink upped their price objective on shares of Blueprint Medicines from $116.00 to $125.00 and gave the stock a “positive” rating in a report on Tuesday, March 17th. Finally, Piper Jaffray Companies lowered their target price on shares of Blueprint Medicines from $85.00 to $77.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Blueprint Medicines presently has an average rating of “Buy” and an average price target of $104.85.

Shares of BPMC traded up $3.55 during mid-day trading on Thursday, hitting $61.23. The company’s stock had a trading volume of 522,818 shares, compared to its average volume of 929,543. Blueprint Medicines Corp has a one year low of $43.29 and a one year high of $102.98. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.85 and a current ratio of 4.85. The firm has a market capitalization of $3.12 billion, a PE ratio of -8.39 and a beta of 1.69. The stock’s 50-day moving average is $58.94 and its two-hundred day moving average is $71.37.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($1.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.71) by $0.36. Blueprint Medicines had a negative net margin of 522.75% and a negative return on equity of 72.52%. The business had revenue of $51.53 million for the quarter, compared to the consensus estimate of $26.00 million. During the same quarter last year, the company posted ($1.83) earnings per share. Blueprint Medicines’s quarterly revenue was up 4888.7% on a year-over-year basis. Analysts expect that Blueprint Medicines Corp will post -8.63 EPS for the current fiscal year.

In related news, Director George Demetri sold 1,705 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $80.59, for a total transaction of $137,405.95. Following the transaction, the director now directly owns 3,030 shares in the company, valued at $244,187.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marion Dorsch sold 1,214 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $52.49, for a total value of $63,722.86. Following the completion of the transaction, the insider now directly owns 16,265 shares of the company’s stock, valued at approximately $853,749.85. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,250 shares of company stock valued at $1,952,506. Insiders own 4.02% of the company’s stock.

Blueprint Medicines Profile

Blueprint Medicines Corporation 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 completed Phase I clinical trials that targets PDGFRA Exon 18 mutant GIST and KIT-driven GIST; 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.

Further Reading: What are the Different Types of Leveraged Buyouts?

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Institutional Ownership by Quarter for Blueprint Medicines (NASDAQ:BPMC)

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