Blueprint Medicines Co. (NASDAQ:BPMC) Shares Acquired by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC boosted its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 3.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,657 shares of the biotechnology company’s stock after purchasing an additional 176 shares during the period. Pallas Capital Advisors LLC’s holdings in Blueprint Medicines were worth $523,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in Blueprint Medicines by 331.9% during the 1st quarter. Principal Financial Group Inc. now owns 62,670 shares of the biotechnology company’s stock valued at $5,945,000 after purchasing an additional 48,160 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Blueprint Medicines during the 1st quarter valued at $474,000. Hsbc Holdings PLC acquired a new stake in Blueprint Medicines during the 2nd quarter valued at $1,060,000. Comerica Bank grew its holdings in Blueprint Medicines by 2,582.9% during the 1st quarter. Comerica Bank now owns 10,839 shares of the biotechnology company’s stock valued at $1,028,000 after purchasing an additional 10,435 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in Blueprint Medicines by 27.8% during the 2nd quarter. Federated Hermes Inc. now owns 62,354 shares of the biotechnology company’s stock valued at $6,721,000 after purchasing an additional 13,579 shares in the last quarter.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the firm’s 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 sale, the insider now owns 69,070 shares of the company’s stock, valued at $6,169,332.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the firm’s 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 sale, the insider now owns 69,070 shares of the company’s stock, valued at $6,169,332.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Philina Lee sold 41,913 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 34,729 shares of the company’s stock, valued at $3,236,395.51. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.21% of the company’s stock.

Blueprint Medicines Price Performance

NASDAQ:BPMC opened at $89.24 on Thursday. Blueprint Medicines Co. has a 1-year low of $53.73 and a 1-year high of $121.90. 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 fifty day simple moving average of $88.98 and a 200 day simple moving average of $98.43. The stock has a market capitalization of $5.59 billion, a PE ratio of -18.55 and a beta of 0.58.

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of Blueprint Medicines from $110.00 to $115.00 and gave the company an “equal weight” rating in a research report on Friday, July 12th. Oppenheimer boosted their target price on shares of Blueprint Medicines from $114.00 to $125.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Baird R W raised shares of Blueprint Medicines to a “strong-buy” rating in a research report on Friday, August 2nd. Barclays lifted their target price on shares of Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Finally, UBS Group initiated coverage on shares of Blueprint Medicines in a research report on Thursday, October 24th. They set a “neutral” rating and a $88.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $118.39.

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.