Blueprint Medicines Co. (NASDAQ:BPMC) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 88.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,521 shares of the biotechnology company’s stock after selling 19,163 shares during the period. SG Americas Securities LLC’s holdings in Blueprint Medicines were worth $233,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BPMC. Price T Rowe Associates Inc. MD grew its position in shares of Blueprint Medicines by 15.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,250,823 shares of the biotechnology company’s stock worth $592,954,000 after acquiring an additional 821,868 shares during the last quarter. Millennium Management LLC grew its position in shares of 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 acquiring an additional 529,566 shares during the last quarter. 1832 Asset Management L.P. grew its position in shares of 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 acquiring an additional 502,400 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of Blueprint Medicines by 79.3% during the second quarter. Point72 Asset Management L.P. now owns 501,581 shares of the biotechnology company’s stock worth $54,060,000 after acquiring an additional 221,813 shares during the last quarter. Finally, Clearbridge Investments LLC purchased a new position in shares of Blueprint Medicines during the second quarter worth approximately $23,817,000.

Insider Transactions at Blueprint Medicines

In other news, 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 owns 69,070 shares of the company’s stock, valued at $6,169,332.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, 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 owns 69,070 shares of the company’s stock, valued at $6,169,332.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Philina Lee sold 41,913 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the completion of the transaction, the insider now directly owns 34,729 shares of the company’s stock, valued at $3,236,395.51. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Baird R W upgraded shares of Blueprint Medicines to a “strong-buy” rating in a research report on Friday, August 2nd. Guggenheim lifted their price objective on shares of Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price objective on shares of Blueprint Medicines in a research report on Thursday, August 1st. Finally, Oppenheimer lifted their price objective on shares of Blueprint Medicines from $114.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $120.00.

Blueprint Medicines Trading Down 0.5 %

NASDAQ:BPMC opened at $85.61 on Tuesday. The company has a market capitalization of $5.36 billion, a PE ratio of -17.80 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 Co. has a 52-week low of $43.89 and a 52-week high of $121.90. The stock has a fifty day simple moving average of $90.49 and a 200-day simple moving average of $98.83.

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

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.