Profund Advisors LLC Buys 1,739 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Profund Advisors LLC raised its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 10.6% during the 2nd quarter, Holdings Channel.com reports. The fund owned 18,114 shares of the biotechnology company’s stock after purchasing an additional 1,739 shares during the quarter. Profund Advisors LLC’s holdings in Blueprint Medicines were worth $1,952,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Sei Investments Co. lifted its stake in Blueprint Medicines by 15.4% during the 2nd quarter. Sei Investments Co. now owns 52,986 shares of the biotechnology company’s stock valued at $5,711,000 after acquiring an additional 7,073 shares during the period. XTX Topco Ltd purchased a new stake in shares of Blueprint Medicines during the 2nd quarter valued at about $593,000. Hsbc Holdings PLC purchased a new stake in shares of Blueprint Medicines during the 2nd quarter valued at about $1,060,000. Vanguard Personalized Indexing Management LLC increased its position in shares of Blueprint Medicines by 12.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,276 shares of the biotechnology company’s stock valued at $461,000 after purchasing an additional 485 shares during the last quarter. Finally, Amalgamated Bank increased its position in shares of Blueprint Medicines by 5.3% during the 2nd quarter. Amalgamated Bank now owns 2,154 shares of the biotechnology company’s stock valued at $232,000 after purchasing an additional 109 shares during the last quarter.

Wall Street Analyst Weigh In

BPMC has been the subject of several research reports. Barclays upped their price target on shares of Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Morgan Stanley upped their price target on shares of Blueprint Medicines from $110.00 to $115.00 and gave the company an “equal weight” rating in a research report on Friday, July 12th. Baird R W raised shares of Blueprint Medicines to a “strong-buy” rating in a research report on Friday, August 2nd. JMP Securities reissued a “market outperform” rating and issued a $125.00 target price on shares of Blueprint Medicines in a report on Friday, June 7th. Finally, Robert W. Baird increased their target price on shares of Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $120.00.

Insider Activity at Blueprint Medicines

In related news, insider Debra Durso-Bumpus sold 8,817 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $111.29, for a total value of $981,243.93. Following the completion of the transaction, the insider now directly owns 43,763 shares of the company’s stock, valued at $4,870,384.27. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Philina Lee sold 41,913 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the completion of the sale, the insider now directly owns 34,729 shares of the company’s stock, valued at $3,236,395.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Debra Durso-Bumpus sold 8,817 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $111.29, for a total transaction of $981,243.93. Following the sale, the insider now directly owns 43,763 shares of the company’s stock, valued at $4,870,384.27. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,913 shares of company stock valued at $5,352,249. 4.21% of the stock is owned by corporate insiders.

Blueprint Medicines Trading Up 0.8 %

BPMC stock opened at $91.68 on Monday. The firm has a fifty day moving average price of $97.76 and a 200 day moving average price of $99.09. Blueprint Medicines Co. has a fifty-two week low of $43.89 and a fifty-two week high of $121.90. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.65 and a current ratio of 3.71. The firm has a market cap of $5.74 billion, a PE ratio of -19.06 and a beta of 0.58.

Blueprint Medicines (NASDAQ:BPMC) last posted its earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.49. Blueprint Medicines had a negative net margin of 56.64% and a negative return on equity of 157.30%. The firm had revenue of $138.20 million during the quarter, compared to analyst estimates of $104.02 million. During the same period last year, the firm posted ($2.19) earnings per share. Blueprint Medicines’s revenue for the quarter was up 139.9% compared to the same quarter last year. Sell-side analysts anticipate that Blueprint Medicines Co. will post -3.99 earnings per share for the current fiscal year.

About Blueprint Medicines

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.