Citigroup Inc. Boosts Stake in Blueprint Medicines Co. (NASDAQ:BPMC)

Citigroup Inc. grew its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 19.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 143,441 shares of the biotechnology company’s stock after buying an additional 23,189 shares during the period. Citigroup Inc.’s holdings in Blueprint Medicines were worth $13,268,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in BPMC. Valence8 US LP purchased a new stake in Blueprint Medicines during the 3rd quarter worth about $242,000. Charles Schwab Investment Management Inc. raised its position in shares of Blueprint Medicines by 9.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 597,232 shares of the biotechnology company’s stock valued at $55,244,000 after buying an additional 50,736 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Blueprint Medicines by 48.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 252,236 shares of the biotechnology company’s stock valued at $23,332,000 after buying an additional 82,693 shares during the period. Intech Investment Management LLC acquired a new stake in Blueprint Medicines during the third quarter worth approximately $1,712,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Blueprint Medicines during the third quarter worth approximately $6,465,000.

Analyst Upgrades and Downgrades

BPMC has been the topic of a number of recent analyst reports. Baird R W raised Blueprint Medicines to a “strong-buy” rating in a research note on Friday, August 2nd. Guggenheim raised their price target on Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. HC Wainwright reaffirmed a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a research note on Friday, November 15th. UBS Group began coverage on shares of Blueprint Medicines in a research report on Thursday, October 24th. They issued a “neutral” rating and a $88.00 target price on the stock. Finally, Wedbush reaffirmed an “outperform” rating and set a $135.00 price target on shares of Blueprint Medicines in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Blueprint Medicines has a consensus rating of “Moderate Buy” and a consensus price target of $122.11.

Blueprint Medicines Price Performance

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

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share 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 company had revenue of $128.20 million during the quarter, compared to analysts’ expectations of $127.56 million. During the same period in the prior year, the company posted ($2.20) EPS. The firm’s revenue for the quarter was up 126.5% on a year-over-year basis. Equities research analysts anticipate that Blueprint Medicines Co. will post -3.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total transaction of $324,499.56. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.21% of the stock is owned by insiders.

Blueprint Medicines 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.