First Turn Management LLC Has $16.55 Million Stock Position in Blueprint Medicines Co. (NASDAQ:BPMC)

First Turn Management LLC reduced its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 3.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 178,929 shares of the biotechnology company’s stock after selling 5,972 shares during the period. Blueprint Medicines accounts for about 2.6% of First Turn Management LLC’s holdings, making the stock its 14th biggest position. First Turn Management LLC owned approximately 0.28% of Blueprint Medicines worth $16,551,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in BPMC. Hsbc Holdings PLC bought a new stake in Blueprint Medicines in the second quarter worth about $1,060,000. Comerica Bank grew its stake in Blueprint Medicines by 2,582.9% during the first quarter. Comerica Bank now owns 10,839 shares of the biotechnology company’s stock valued at $1,028,000 after acquiring an additional 10,435 shares in the last quarter. Federated Hermes Inc. grew its stake in Blueprint Medicines by 27.8% in the 2nd quarter. Federated Hermes Inc. now owns 62,354 shares of the biotechnology company’s stock worth $6,721,000 after buying an additional 13,579 shares in the last quarter. SG Americas Securities LLC grew its stake in Blueprint Medicines by 82.8% in the 2nd quarter. SG Americas Securities LLC now owns 21,684 shares of the biotechnology company’s stock worth $2,337,000 after buying an additional 9,819 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Blueprint Medicines by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company’s stock worth $598,564,000 after buying an additional 195,007 shares in the last quarter.

Blueprint Medicines Stock Performance

BPMC opened at $90.18 on Tuesday. Blueprint Medicines Co. has a 52-week low of $63.50 and a 52-week high of $121.90. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09. The company has a market cap of $5.73 billion, a P/E ratio of -42.74 and a beta of 0.59. The firm’s 50-day moving average price is $89.67 and its 200-day moving average price is $98.82.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $128.20 million for the quarter, compared to the consensus estimate of $127.56 million. During the same quarter in the prior year, the company posted ($2.20) earnings per share. The company’s revenue for the quarter was up 126.5% compared to the same quarter last year. As a group, equities analysts anticipate that Blueprint Medicines Co. will post -3.61 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BPMC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Blueprint Medicines in a report on Thursday, November 14th. They set an “overweight” rating and a $126.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a report on Friday. Barclays upped 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. Wedbush reissued an “outperform” rating and set a $135.00 price objective on shares of Blueprint Medicines in a research report on Thursday, November 14th. Finally, Guggenheim raised their target price on shares of Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $122.11.

Insider Transactions at Blueprint Medicines

In other news, insider Fouad Namouni sold 3,633 shares of the 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 transaction, the insider now owns 69,070 shares in the company, valued at $6,169,332.40. This trade represents a 5.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate 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.