Advisors Asset Management Inc. Purchases 756 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Advisors Asset Management Inc. grew its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 17.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,054 shares of the biotechnology company’s stock after buying an additional 756 shares during the quarter. Advisors Asset Management Inc.’s holdings in Blueprint Medicines were worth $467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. increased its position in Blueprint Medicines by 4.2% during the 2nd quarter. American Century Companies Inc. now owns 802,733 shares of the biotechnology company’s stock worth $86,519,000 after buying an additional 32,600 shares during the period. Millennium Management LLC increased its position in Blueprint Medicines by 540.0% during the 2nd quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company’s stock worth $67,646,000 after buying an additional 529,566 shares during the period. Hood River Capital Management LLC increased its position in Blueprint Medicines by 7.0% during the 2nd quarter. Hood River Capital Management LLC now owns 502,820 shares of the biotechnology company’s stock worth $54,194,000 after buying an additional 32,694 shares during the period. 1832 Asset Management L.P. increased its position in Blueprint Medicines by 200,159.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 502,651 shares of the biotechnology company’s stock worth $54,176,000 after buying an additional 502,400 shares during the period. Finally, Point72 Asset Management L.P. increased its position in Blueprint Medicines by 79.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 501,581 shares of the biotechnology company’s stock worth $54,060,000 after buying an additional 221,813 shares during the period.

Blueprint Medicines Stock Performance

Shares of BPMC stock opened at $95.10 on Thursday. The business’s 50-day moving average price is $90.67 and its 200-day moving average price is $98.28. Blueprint Medicines Co. has a 12 month low of $67.00 and a 12 month high of $121.90. The firm has a market capitalization of $6.04 billion, a price-to-earnings ratio of -45.07 and a beta of 0.59. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09.

Blueprint Medicines (NASDAQ:BPMC) last announced 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 firm had revenue of $128.20 million for the quarter, compared to analyst estimates of $127.56 million. During the same period last year, the firm posted ($2.20) earnings per share. The business’s revenue for the quarter was up 126.5% on a year-over-year basis. Equities research analysts forecast that Blueprint Medicines Co. will post -3.68 EPS for the current year.

Wall Street Analyst Weigh In

BPMC has been the topic of several recent research reports. Baird R W upgraded Blueprint Medicines to a “strong-buy” rating in a research report on Friday, August 2nd. Guggenheim raised their price target on Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. UBS Group began coverage on Blueprint Medicines in a research report on Thursday, October 24th. They issued a “neutral” rating and a $88.00 price target on the stock. Wedbush restated an “outperform” rating and issued a $135.00 price target on shares of Blueprint Medicines in a research report on Thursday, November 14th. Finally, HC Wainwright restated a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Blueprint Medicines has an average rating of “Moderate Buy” and a consensus target price of $122.11.

Insider Activity

In related news, insider Fouad Namouni sold 3,633 shares of Blueprint Medicines stock in a transaction that occurred 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 of the company’s stock, valued at $6,169,332.40. The trade was a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.21% of the company’s stock.

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.