Bank of Montreal Can Makes New $7.46 Million Investment in Blueprint Medicines Co. (NASDAQ:BPMC)

Bank of Montreal Can purchased a new stake in Blueprint Medicines Co. (NASDAQ:BPMC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 69,040 shares of the biotechnology company’s stock, valued at approximately $7,458,000. Bank of Montreal Can owned 0.11% of Blueprint Medicines at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Amalgamated Bank grew its position in Blueprint Medicines by 5.3% in the second quarter. Amalgamated Bank now owns 2,154 shares of the biotechnology company’s stock worth $232,000 after acquiring an additional 109 shares during the period. Van ECK Associates Corp grew its holdings in shares of Blueprint Medicines by 13.3% during the 2nd quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock worth $120,000 after purchasing an additional 131 shares during the period. EFG Asset Management North America Corp. increased its position in shares of Blueprint Medicines by 0.5% during the 2nd quarter. EFG Asset Management North America Corp. now owns 27,884 shares of the biotechnology company’s stock worth $3,008,000 after purchasing an additional 132 shares during the last quarter. US Bancorp DE raised its holdings in Blueprint Medicines by 5.2% in the 1st quarter. US Bancorp DE now owns 3,724 shares of the biotechnology company’s stock valued at $353,000 after buying an additional 183 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Blueprint Medicines by 1.7% in the fourth quarter. Principal Financial Group Inc. now owns 14,510 shares of the biotechnology company’s stock valued at $1,338,000 after buying an additional 247 shares during the last quarter.

Blueprint Medicines Price Performance

Shares of NASDAQ BPMC opened at $92.50 on Tuesday. The stock’s 50-day simple moving average is $94.60 and its 200-day simple moving average is $99.09. 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 capitalization of $5.79 billion, a PE ratio of -19.23 and a beta of 0.58. Blueprint Medicines Co. has a fifty-two week low of $43.89 and a fifty-two week high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share for the quarter, topping 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 company had revenue of $138.20 million for the quarter, compared to analysts’ expectations of $104.02 million. During the same quarter last year, the company earned ($2.19) earnings per share. The firm’s revenue for the quarter was up 139.9% on a year-over-year basis. As a group, equities research analysts forecast that Blueprint Medicines Co. will post -3.99 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on BPMC. Baird R W upgraded shares of Blueprint Medicines to a “strong-buy” rating in a research report on Friday, August 2nd. Guggenheim upped their price target on Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Barclays lifted their target price on 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 increased their price target on shares of Blueprint Medicines from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Friday, July 12th. Finally, Oppenheimer upped their target price on shares of Blueprint Medicines from $114.00 to $125.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $120.00.

Insider Activity at Blueprint Medicines

In other news, insider Debra Durso-Bumpus sold 8,817 shares of Blueprint Medicines stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $111.29, for a total transaction of $981,243.93. Following the sale, the insider now owns 43,763 shares in the company, valued at $4,870,384.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Debra Durso-Bumpus sold 8,817 shares of Blueprint Medicines 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 transaction, the insider now directly owns 43,763 shares of the company’s stock, valued at approximately $4,870,384.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Philina Lee sold 41,913 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the sale, the insider now owns 34,729 shares of the company’s stock, valued at approximately $3,236,395.51. The disclosure for this sale can be found here. Insiders sold a total of 54,580 shares of company stock valued at $5,315,236 over the last ninety days. Insiders own 4.21% of the company’s stock.

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.