Covestor Ltd Has $55,000 Stake in Blueprint Medicines Co. (NASDAQ:BPMC)

Covestor Ltd raised its holdings in Blueprint Medicines Co. (NASDAQ:BPMC) by 206.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 598 shares of the biotechnology company’s stock after buying an additional 403 shares during the period. Covestor Ltd’s holdings in Blueprint Medicines were worth $55,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC acquired a new stake in shares of Blueprint Medicines in the second quarter valued at about $1,060,000. Comerica Bank increased its position in shares of Blueprint Medicines by 2,582.9% during the 1st quarter. Comerica Bank now owns 10,839 shares of the biotechnology company’s stock worth $1,028,000 after purchasing an additional 10,435 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of Blueprint Medicines by 27.8% during the 2nd quarter. Federated Hermes Inc. now owns 62,354 shares of the biotechnology company’s stock worth $6,721,000 after purchasing an additional 13,579 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Blueprint Medicines by 82.8% in the 2nd quarter. SG Americas Securities LLC now owns 21,684 shares of the biotechnology company’s stock valued at $2,337,000 after buying an additional 9,819 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Blueprint Medicines by 3.2% in the first quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company’s stock valued at $598,564,000 after buying an additional 195,007 shares in the last quarter.

Blueprint Medicines Price Performance

Blueprint Medicines stock opened at $95.65 on Friday. The stock’s fifty day moving average price is $89.55 and its two-hundred day moving average price is $98.89. The firm has a market cap of $6.08 billion, a PE ratio of -45.33 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. Blueprint Medicines Co. has a one year low of $62.56 and a one year high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.08. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The business 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. Blueprint Medicines’s revenue for the quarter was up 126.5% compared to the same quarter last year. As a group, research analysts expect that Blueprint Medicines Co. will post -3.61 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on BPMC. HC Wainwright reaffirmed a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a research report on Thursday, October 31st. Guggenheim raised their target price on shares of Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Baird R W raised Blueprint Medicines to a “strong-buy” rating in a research report on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $133.00 price objective on shares of Blueprint Medicines in a research report on Wednesday, October 30th. Finally, Barclays lifted their target price on Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Blueprint Medicines currently has a consensus rating of “Moderate Buy” and an average target price of $122.00.

Insider Buying and Selling

In related news, insider Fouad Namouni sold 3,633 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 69,070 shares in the company, valued at $6,169,332.40. This represents a 5.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.21% of the stock is currently owned by company insiders.

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.