Renaissance Technologies LLC Boosts Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Renaissance Technologies LLC lifted its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 132.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,400 shares of the biotechnology company’s stock after acquiring an additional 62,900 shares during the period. Renaissance Technologies LLC owned 0.18% of Blueprint Medicines worth $11,899,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Gilbert & Cook Inc. raised its stake in Blueprint Medicines by 8.5% during the fourth quarter. Gilbert & Cook Inc. now owns 4,846 shares of the biotechnology company’s stock worth $447,000 after purchasing an additional 380 shares during the period. Principal Financial Group Inc. raised its position in shares of Blueprint Medicines by 1.7% in the 4th quarter. Principal Financial Group Inc. now owns 14,510 shares of the biotechnology company’s stock worth $1,338,000 after buying an additional 247 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Blueprint Medicines in the 4th quarter worth $321,000. Norges Bank purchased a new stake in Blueprint Medicines during the fourth quarter valued at about $55,893,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Blueprint Medicines during the fourth quarter worth about $95,000.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Oppenheimer lifted their price objective on Blueprint Medicines from $114.00 to $125.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Needham & Company LLC reiterated a “buy” rating and set a $130.00 price objective on shares of Blueprint Medicines in a research note on Thursday, August 1st. Morgan Stanley raised their target price on shares of Blueprint Medicines from $110.00 to $115.00 and gave the company an “equal weight” rating in a research note on Friday, July 12th. Robert W. Baird upped their price target on shares of Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $125.00 price target on shares of Blueprint Medicines in a report on Friday, June 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Blueprint Medicines has an average rating of “Moderate Buy” and a consensus price target of $120.00.

Insider Buying and Selling

In other Blueprint Medicines news, insider Philina Lee sold 41,913 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the transaction, the insider now owns 34,729 shares of the company’s stock, valued at approximately $3,236,395.51. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Debra Durso-Bumpus sold 8,817 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $111.29, for a total transaction of $981,243.93. Following the completion of the sale, the insider now owns 43,763 shares of the company’s stock, valued at approximately $4,870,384.27. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Philina Lee sold 41,913 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the sale, the insider now owns 34,729 shares in the company, valued at approximately $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 worth $5,352,249. Corporate insiders own 4.21% of the company’s stock.

Blueprint Medicines Stock Up 0.8 %

BPMC stock opened at $91.68 on Monday. The company has a current ratio of 3.71, a quick ratio of 3.65 and a debt-to-equity ratio of 1.06. The firm has a 50 day simple moving average of $97.76 and a 200-day simple moving average of $99.09. The company has a market capitalization of $5.74 billion, a P/E ratio of -19.06 and a beta of 0.58. Blueprint Medicines Co. has a twelve month low of $43.89 and a twelve month high of $121.90.

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

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.