Swiss National Bank Grows Stock Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Swiss National Bank lifted its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 1.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 116,200 shares of the biotechnology company’s stock after acquiring an additional 1,800 shares during the quarter. Swiss National Bank’s holdings in Blueprint Medicines were worth $10,748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Hsbc Holdings PLC acquired a new stake in Blueprint Medicines in the 2nd quarter worth about $1,060,000. Comerica Bank grew its stake in shares of Blueprint Medicines by 2,582.9% in the first quarter. Comerica Bank now owns 10,839 shares of the biotechnology company’s stock worth $1,028,000 after acquiring an additional 10,435 shares in the last quarter. Federated Hermes Inc. increased 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 worth $6,721,000 after purchasing an additional 13,579 shares during the period. SG Americas Securities LLC increased its stake in shares of Blueprint Medicines by 82.8% during the second quarter. SG Americas Securities LLC now owns 21,684 shares of the biotechnology company’s stock worth $2,337,000 after buying an additional 9,819 shares during the period. Finally, Nicholas Investment Partners LP purchased a new stake in shares of Blueprint Medicines in the 2nd quarter valued at approximately $4,377,000.

Insider Buying and Selling

In related news, insider Fouad Namouni sold 3,633 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total value of $324,499.56. Following the completion of the transaction, the insider now owns 69,070 shares in the company, valued at $6,169,332.40. This trade represents a 5.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.21% of the stock is currently owned by insiders.

Blueprint Medicines Stock Down 2.6 %

BPMC opened at $94.15 on Monday. The stock’s 50 day moving average price is $90.36 and its 200 day moving average price is $98.46. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. The stock has a market cap of $5.98 billion, a P/E ratio of -44.62 and a beta of 0.59. Blueprint Medicines Co. has a 12 month low of $66.61 and a 12 month high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data 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 net margin of 29.48% and a negative return on equity of 112.30%. The business had revenue of $128.20 million for the quarter, compared to analyst estimates of $127.56 million. During the same quarter last year, the business earned ($2.20) earnings per share. The business’s revenue for the quarter was up 126.5% on a year-over-year basis. As a group, research analysts predict that Blueprint Medicines Co. will post -3.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $135.00 target price on shares of Blueprint Medicines in a research report on Friday, November 15th. JPMorgan Chase & Co. assumed coverage on Blueprint Medicines in a report on Thursday, November 14th. They set an “overweight” rating and a $126.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $135.00 target price on shares of Blueprint Medicines in a research report on Friday, November 15th. Robert W. Baird increased their price target on shares of Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, Barclays lifted their price objective on Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Blueprint Medicines has a consensus rating of “Moderate Buy” and a consensus target price of $122.11.

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.