Martingale Asset Management L P Acquires 1,098 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Martingale Asset Management L P grew its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 7.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 15,603 shares of the biotechnology company’s stock after acquiring an additional 1,098 shares during the period. Martingale Asset Management L P’s holdings in Blueprint Medicines were worth $1,443,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Triad Wealth Partners LLC acquired a new stake in shares of Blueprint Medicines during the 2nd quarter valued at $27,000. Covestor Ltd boosted its holdings in shares of Blueprint Medicines by 206.7% during the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock valued at $55,000 after acquiring an additional 403 shares in the last quarter. CWM LLC boosted its holdings in shares of Blueprint Medicines by 114.6% during the 2nd quarter. CWM LLC now owns 1,105 shares of the biotechnology company’s stock valued at $119,000 after acquiring an additional 590 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Blueprint Medicines by 13.3% during the 2nd quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $120,000 after acquiring an additional 131 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Blueprint Medicines during the 3rd quarter valued at $108,000.

Blueprint Medicines Stock Performance

Shares of Blueprint Medicines stock opened at $96.38 on Monday. Blueprint Medicines Co. has a one year low of $68.28 and a one year high of $121.90. The firm has a market capitalization of $6.12 billion, a price-to-earnings ratio of -45.68 and a beta of 0.59. The business has a 50-day simple moving average of $90.97 and a 200 day simple moving average of $98.10. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.08. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The business had revenue of $128.20 million during the quarter, compared to analyst estimates of $127.56 million. During the same period in the previous year, the company posted ($2.20) EPS. The firm’s revenue was up 126.5% compared to the same quarter last year. On average, research analysts anticipate that Blueprint Medicines Co. will post -3.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

BPMC has been the topic of several recent research reports. HC Wainwright reissued a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, November 15th. Wells Fargo & Company cut their price objective on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. StockNews.com raised Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, November 8th. JPMorgan Chase & Co. started coverage on Blueprint Medicines in a report on Thursday, November 14th. They set an “overweight” rating and a $126.00 target price on the stock. Finally, UBS Group started coverage on Blueprint Medicines in a report on Thursday, October 24th. They set a “neutral” rating and a $88.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Blueprint Medicines has a consensus rating of “Moderate Buy” and a consensus price target of $122.11.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the business’s 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 completion of the sale, the insider now directly owns 69,070 shares of the company’s stock, valued at approximately $6,169,332.40. The trade was a 5.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.21% of the stock is currently owned by corporate insiders.

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.