Quest Partners LLC Reduces Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Quest Partners LLC reduced its stake in Blueprint Medicines Co. (NASDAQ:BPMC) by 7.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,552 shares of the biotechnology company’s stock after selling 119 shares during the quarter. Quest Partners LLC’s holdings in Blueprint Medicines were worth $144,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BPMC. O Shaughnessy Asset Management LLC increased its holdings in Blueprint Medicines by 23.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 2,971 shares of the biotechnology company’s stock worth $282,000 after purchasing an additional 573 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in Blueprint Medicines by 3.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 6,834 shares of the biotechnology company’s stock valued at $648,000 after acquiring an additional 256 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Blueprint Medicines in the first quarter worth approximately $251,000. Kennedy Capital Management LLC acquired a new position in Blueprint Medicines during the 1st quarter worth approximately $220,000. Finally, Comerica Bank increased its position in shares of Blueprint Medicines by 2,582.9% in 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 during the last quarter.

Insiders Place Their Bets

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the company’s stock in a transaction dated 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 in the company, valued at $6,169,332.40. This represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.21% of the stock is owned by corporate insiders.

Blueprint Medicines Stock Up 0.5 %

BPMC stock opened at $95.10 on Friday. Blueprint Medicines Co. has a one year low of $67.00 and a one year high of $121.90. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32. The company has a fifty day moving average of $90.79 and a 200-day moving average of $98.25. The stock has a market capitalization of $6.04 billion, a PE ratio of -45.07 and a beta of 0.59.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, topping 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 company had revenue of $128.20 million during the quarter, compared to analysts’ expectations of $127.56 million. During the same quarter in the previous year, the business posted ($2.20) earnings per share. The firm’s quarterly revenue was up 126.5% compared to the same quarter last year. As a group, analysts expect that Blueprint Medicines Co. will post -3.68 EPS for the current year.

Analyst Ratings Changes

BPMC has been the subject of a number of analyst reports. Robert W. Baird boosted their target price on shares of Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. StockNews.com upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Needham & Company LLC restated a “buy” rating and set a $135.00 target price on shares of Blueprint Medicines in a research note on Friday, November 15th. JMP Securities reiterated a “market outperform” rating and issued a $125.00 price target on shares of Blueprint Medicines in a research note on Monday, November 18th. Finally, Baird R W upgraded shares of Blueprint Medicines to a “strong-buy” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.