Charles Schwab Investment Management Inc. Buys 50,736 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Charles Schwab Investment Management Inc. boosted its stake in Blueprint Medicines Co. (NASDAQ:BPMC) by 9.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 597,232 shares of the biotechnology company’s stock after purchasing an additional 50,736 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Blueprint Medicines were worth $55,244,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in BPMC. Millennium Management LLC grew its holdings in shares of Blueprint Medicines by 540.0% in the second quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company’s stock worth $67,646,000 after acquiring an additional 529,566 shares during the period. 1832 Asset Management L.P. increased its position in shares of Blueprint Medicines by 200,159.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 502,651 shares of the biotechnology company’s stock valued at $54,176,000 after purchasing an additional 502,400 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Blueprint Medicines by 79.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 501,581 shares of the biotechnology company’s stock worth $54,060,000 after purchasing an additional 221,813 shares during the period. Clearbridge Investments LLC purchased a new position in shares of Blueprint Medicines in the second quarter worth approximately $23,817,000. Finally, First Turn Management LLC bought a new stake in Blueprint Medicines during the second quarter valued at approximately $19,929,000.

Blueprint Medicines Stock Performance

NASDAQ BPMC opened at $96.38 on Friday. 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 Co. has a 1-year low of $68.28 and a 1-year high of $121.90. The business has a 50 day simple moving average of $90.97 and a two-hundred day simple moving average of $98.15. The stock has a market capitalization of $6.12 billion, a PE ratio of -45.68 and a beta of 0.59.

Blueprint Medicines (NASDAQ:BPMC) last posted its earnings results 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. The firm had revenue of $128.20 million during the quarter, compared to analyst estimates of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. Blueprint Medicines’s revenue for the quarter was up 126.5% compared to the same quarter last year. During the same period last year, the firm posted ($2.20) earnings per share. On average, research analysts predict that Blueprint Medicines Co. will post -3.68 EPS for the current fiscal year.

Insider Transactions at Blueprint Medicines

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 transaction of $324,499.56. Following the sale, the insider now owns 69,070 shares in the company, valued at approximately $6,169,332.40. This represents a 5.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 4.21% of the company’s stock.

Analyst Ratings Changes

BPMC has been the topic of several analyst reports. JMP Securities reiterated a “market outperform” rating and set a $125.00 price target on shares of Blueprint Medicines in a research note on Monday, November 18th. StockNews.com upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Needham & Company LLC restated a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a research report on Friday, November 15th. JPMorgan Chase & Co. initiated coverage on shares of Blueprint Medicines in a report on Thursday, November 14th. They set an “overweight” rating and a $126.00 price target on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Blueprint Medicines presently has an average rating of “Moderate Buy” and a consensus target price of $122.11.

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.