Bank of Montreal Can Has $6.35 Million Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Bank of Montreal Can decreased its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 68,562 shares of the biotechnology company’s stock after selling 478 shares during the period. Bank of Montreal Can’s holdings in Blueprint Medicines were worth $6,345,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Pitcairn Co. lifted its holdings in Blueprint Medicines by 127.6% during the third quarter. Pitcairn Co. now owns 10,315 shares of the biotechnology company’s stock valued at $954,000 after purchasing an additional 5,783 shares during the last quarter. Algert Global LLC boosted its position in Blueprint Medicines by 40.7% during the third quarter. Algert Global LLC now owns 92,236 shares of the biotechnology company’s stock valued at $8,532,000 after buying an additional 26,696 shares during the period. Citigroup Inc. increased its stake in shares of Blueprint Medicines by 19.3% in the third quarter. Citigroup Inc. now owns 143,441 shares of the biotechnology company’s stock worth $13,268,000 after buying an additional 23,189 shares during the period. Valence8 US LP purchased a new stake in shares of Blueprint Medicines during the third quarter worth about $242,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Blueprint Medicines by 9.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 597,232 shares of the biotechnology company’s stock worth $55,244,000 after acquiring an additional 50,736 shares during the period.

Analysts Set New Price Targets

BPMC has been the subject of a number of research reports. HC Wainwright reiterated a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, November 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a research report on Friday, November 15th. JPMorgan Chase & Co. began coverage on shares of Blueprint Medicines in a research note on Thursday, November 14th. They set an “overweight” rating and a $126.00 target price on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $125.00 price objective on shares of Blueprint Medicines in a report on Monday, November 18th. Finally, UBS Group started coverage on Blueprint Medicines in a research report on Thursday, October 24th. They set a “neutral” rating and a $88.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $122.11.

Blueprint Medicines Price Performance

Shares of NASDAQ BPMC opened at $97.62 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32. The stock’s 50-day simple moving average is $90.97 and its 200-day simple moving average is $98.04. The firm has a market capitalization of $6.20 billion, a PE ratio of -45.68 and a beta of 0.59. Blueprint Medicines Co. has a fifty-two week low of $70.39 and a fifty-two week high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.08. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The business had revenue of $128.20 million for the quarter, compared to analyst estimates of $127.56 million. During the same period in the previous year, the business posted ($2.20) earnings per share. The business’s revenue was up 126.5% compared to the same quarter last year. As a group, equities research analysts forecast that Blueprint Medicines Co. will post -3.68 EPS for the current fiscal year.

Insider Activity at Blueprint Medicines

In related news, insider Fouad Namouni sold 3,633 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 69,070 shares of the company’s stock, valued at approximately $6,169,332.40. The trade was a 5.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Christina Rossi sold 2,274 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $95.10, for a total transaction of $216,257.40. Following the completion of the transaction, the chief operating officer now directly owns 71,657 shares of the company’s stock, valued at approximately $6,814,580.70. The trade was a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.21% of the stock is owned by corporate insiders.

Blueprint Medicines Company 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.