85,000 Shares in Blueprint Medicines Co. (NASDAQ:BPMC) Purchased by Ikarian Capital LLC

Ikarian Capital LLC bought a new position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) in the third quarter, Holdings Channel.com reports. The firm bought 85,000 shares of the biotechnology company’s stock, valued at approximately $7,863,000. Blueprint Medicines accounts for 1.1% of Ikarian Capital LLC’s holdings, making the stock its 18th largest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BPMC. Millennium Management LLC boosted its position in Blueprint Medicines by 540.0% during the second quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company’s stock worth $67,646,000 after purchasing an additional 529,566 shares during the period. 1832 Asset Management L.P. boosted its position in Blueprint Medicines by 200,159.4% during the second quarter. 1832 Asset Management L.P. now owns 502,651 shares of the biotechnology company’s stock worth $54,176,000 after purchasing an additional 502,400 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in Blueprint Medicines by 161.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 496,087 shares of the biotechnology company’s stock worth $45,888,000 after purchasing an additional 306,079 shares during the period. Point72 Asset Management L.P. boosted its position in shares of Blueprint Medicines by 79.3% in the second quarter. Point72 Asset Management L.P. now owns 501,581 shares of the biotechnology company’s stock valued at $54,060,000 after acquiring an additional 221,813 shares during the period. Finally, Clearbridge Investments LLC bought a new position in shares of Blueprint Medicines in the second quarter valued at approximately $23,817,000.

Analyst Ratings Changes

A number of research firms have recently commented on BPMC. Wells Fargo & Company cut their price objective on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. JPMorgan Chase & Co. began coverage on shares of Blueprint Medicines in a research report on Thursday, November 14th. They issued an “overweight” rating and a $126.00 price objective for the company. Wedbush restated an “outperform” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research report on Thursday, November 14th. UBS Group began coverage on shares of Blueprint Medicines in a research report on Thursday, October 24th. They issued a “neutral” rating and a $88.00 price objective for the company. Finally, JMP Securities restated a “market outperform” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a research report on Monday, November 18th. One 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $122.11.

Insider Buying and Selling

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

Blueprint Medicines Price Performance

Shares of BPMC stock traded down $1.65 during trading hours on Tuesday, hitting $95.97. 19,905 shares of the company’s stock were exchanged, compared to its average volume of 687,536. The company has a market capitalization of $6.10 billion, a PE ratio of -46.27 and a beta of 0.59. Blueprint Medicines Co. has a 12-month low of $70.39 and a 12-month high of $121.90. The business’s 50 day simple moving average is $90.97 and its 200-day simple moving average is $98.04. 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 posted its quarterly earnings results 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 firm had revenue of $128.20 million for the quarter, compared to the consensus estimate of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The business’s revenue was up 126.5% compared to the same quarter last year. During the same period last year, the firm posted ($2.20) earnings per share. On average, equities research analysts anticipate that Blueprint Medicines Co. will post -3.68 earnings per share for the current year.

Blueprint Medicines 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.