Edgestream Partners L.P. Makes New $1.11 Million Investment in Blueprint Medicines Co. (NASDAQ:BPMC)

Edgestream Partners L.P. bought a new position in Blueprint Medicines Co. (NASDAQ:BPMC) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 10,323 shares of the biotechnology company’s stock, valued at approximately $1,113,000.

A number of other institutional investors and hedge funds have also modified their holdings of BPMC. Price T Rowe Associates Inc. MD increased its holdings in shares of Blueprint Medicines by 15.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,250,823 shares of the biotechnology company’s stock worth $592,954,000 after purchasing an additional 821,868 shares in the last quarter. Norges Bank bought a new stake in shares of Blueprint Medicines in the fourth quarter worth $55,893,000. Vanguard Group Inc. grew its holdings 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 worth $598,564,000 after acquiring an additional 195,007 shares during the period. First Turn Management LLC bought a new stake in shares of Blueprint Medicines in the second quarter worth $19,929,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Blueprint Medicines in the second quarter worth $18,273,000.

Insider Activity at Blueprint Medicines

In related news, insider Debra Durso-Bumpus sold 333 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $111.15, for a total transaction of $37,012.95. Following the completion of the transaction, the insider now directly owns 43,763 shares of the company’s stock, valued at $4,864,257.45. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Debra Durso-Bumpus sold 333 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $111.15, for a total transaction of $37,012.95. Following the completion of the transaction, the insider now directly owns 43,763 shares of the company’s stock, valued at $4,864,257.45. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Philina Lee sold 41,913 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $93.19, for a total value of $3,905,872.47. Following the transaction, the insider now directly owns 34,729 shares of the company’s stock, valued at $3,236,395.51. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,913 shares of company stock valued at $5,352,249. Insiders own 4.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Morgan Stanley lifted their price objective on Blueprint Medicines from $110.00 to $115.00 and gave the stock an “equal weight” rating in a report on Friday, July 12th. Robert W. Baird lifted their price objective on Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. JMP Securities reaffirmed a “market outperform” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a report on Friday, June 7th. Baird R W raised Blueprint Medicines to a “strong-buy” rating in a report on Friday, August 2nd. Finally, Oppenheimer lifted their price objective on Blueprint Medicines from $114.00 to $125.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Blueprint Medicines presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.00.

Blueprint Medicines Price Performance

Shares of Blueprint Medicines stock opened at $91.68 on Friday. The stock’s 50-day simple moving average is $98.29 and its 200-day simple moving average is $98.96. Blueprint Medicines Co. has a 52 week low of $43.89 and a 52 week high of $121.90. The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of -19.06 and a beta of 0.58. The company has a quick ratio of 3.65, a current ratio of 3.71 and a debt-to-equity ratio of 1.06.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($1.29) by $0.49. Blueprint Medicines had a negative return on equity of 157.30% and a negative net margin of 56.64%. The business had revenue of $138.20 million for the quarter, compared to the consensus estimate of $104.02 million. During the same period in the previous year, the business earned ($2.19) earnings per share. The business’s revenue was up 139.9% on a year-over-year basis. As a group, analysts expect that Blueprint Medicines Co. will post -3.99 earnings per share for the current fiscal 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.