Quarry LP Makes New $32,000 Investment in Blueprint Medicines Co. (NASDAQ:BPMC)

Quarry LP bought a new position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 350 shares of the biotechnology company’s stock, valued at approximately $32,000.

Several other institutional investors also recently bought and sold shares of the stock. Triad Wealth Partners LLC purchased a new stake in shares of Blueprint Medicines in the second quarter valued at approximately $27,000. Covestor Ltd grew its position in shares of Blueprint Medicines by 206.7% in the third quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 403 shares during the period. CWM LLC increased its stake in shares of Blueprint Medicines by 114.6% during the second quarter. CWM LLC now owns 1,105 shares of the biotechnology company’s stock worth $119,000 after purchasing an additional 590 shares in the last quarter. Van ECK Associates Corp raised its position 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 last quarter. Finally, Quantbot Technologies LP purchased a new stake in Blueprint Medicines during the 3rd quarter worth approximately $108,000.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, CEO Kate Haviland sold 2,353 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $96.60, for a total transaction of $227,299.80. Following the sale, the chief executive officer now owns 150,824 shares of the company’s stock, valued at approximately $14,569,598.40. This trade represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the insider now owns 69,070 shares of the company’s stock, valued at $6,169,332.40. This represents a 5.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,260 shares of company stock valued at $768,057 over the last quarter. 4.21% of the stock is owned by insiders.

Blueprint Medicines Price Performance

BPMC stock opened at $94.47 on Thursday. The business’s 50-day moving average is $91.85 and its two-hundred day moving average is $97.62. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. The firm has a market capitalization of $6.00 billion, a P/E ratio of -44.77 and a beta of 0.59. Blueprint Medicines Co. has a 1 year low of $72.24 and a 1 year 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 company had revenue of $128.20 million during the quarter, compared to the consensus estimate of $127.56 million. During the same quarter in the previous year, the firm earned ($2.20) earnings per share. The firm’s quarterly revenue was up 126.5% on a year-over-year basis. Analysts anticipate that Blueprint Medicines Co. will post -3.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BPMC. StockNews.com raised Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Wells Fargo & Company decreased their price target on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. UBS Group initiated coverage on shares of Blueprint Medicines in a research note on Thursday, October 24th. They set a “neutral” rating and a $88.00 price objective for the company. JMP Securities reissued a “market outperform” rating and issued a $125.00 target price on shares of Blueprint Medicines in a research note on Monday. Finally, JPMorgan Chase & Co. started coverage on Blueprint Medicines in a report on Thursday, November 14th. They issued an “overweight” rating and a $126.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Blueprint Medicines has an average rating of “Moderate Buy” and an average target price of $122.11.

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.