Intech Investment Management LLC Makes New Investment in Blueprint Medicines Co. (NASDAQ:BPMC)

Intech Investment Management LLC acquired a new stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,511 shares of the biotechnology company’s stock, valued at approximately $1,712,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC boosted its position in Blueprint Medicines by 23.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 2,971 shares of the biotechnology company’s stock valued at $282,000 after buying an additional 573 shares during the period. CANADA LIFE ASSURANCE Co raised its position in Blueprint Medicines by 3.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 6,834 shares of the biotechnology company’s stock valued at $648,000 after purchasing an additional 256 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Blueprint Medicines in the 1st quarter worth approximately $251,000. Kennedy Capital Management LLC bought a new stake in shares of Blueprint Medicines in the 1st quarter worth approximately $220,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Blueprint Medicines during the first quarter valued at approximately $6,777,000.

Insider Activity

In other news, insider Fouad Namouni sold 3,633 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total value of $324,499.56. Following the transaction, the insider now directly owns 69,070 shares in the company, valued at $6,169,332.40. This trade represents a 5.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.21% of the stock is owned by corporate insiders.

Blueprint Medicines Stock Down 0.3 %

Blueprint Medicines stock opened at $93.87 on Tuesday. Blueprint Medicines Co. has a 12 month low of $67.00 and a 12 month high of $121.90. The stock has a fifty day simple moving average of $90.51 and a two-hundred day simple moving average of $98.36. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09. The firm has a market cap of $5.96 billion, a price-to-earnings ratio of -44.49 and a beta of 0.59.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.08. The company had revenue of $128.20 million during the quarter, compared to the consensus estimate of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. Blueprint Medicines’s revenue for the quarter was up 126.5% on a year-over-year basis. During the same period last year, the company earned ($2.20) EPS. Equities analysts predict that Blueprint Medicines Co. will post -3.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Barclays lifted their price target on shares of Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. UBS Group assumed coverage on shares of Blueprint Medicines in a research note on Thursday, October 24th. They issued a “neutral” rating and a $88.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a research report on Friday, November 15th. JMP Securities restated a “market outperform” rating and issued a $125.00 target price on shares of Blueprint Medicines in a research note on Monday, November 18th. Finally, Wedbush restated an “outperform” rating and set a $135.00 price target on shares of Blueprint Medicines in a research report on Thursday, November 14th. One 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $122.11.

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.