Blueprint Medicines Co. (NASDAQ:BPMC) Shares Bought by Cinctive Capital Management LP

Cinctive Capital Management LP lifted its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 10.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 74,341 shares of the biotechnology company’s stock after buying an additional 6,839 shares during the quarter. Cinctive Capital Management LP owned approximately 0.12% of Blueprint Medicines worth $6,877,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BPMC. Amalgamated Bank raised its holdings in Blueprint Medicines by 5.3% during the second quarter. Amalgamated Bank now owns 2,154 shares of the biotechnology company’s stock worth $232,000 after purchasing an additional 109 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Blueprint Medicines by 13.3% during the second quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock worth $120,000 after purchasing an additional 131 shares during the last quarter. EFG Asset Management North America Corp. lifted its holdings in shares of Blueprint Medicines by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 27,884 shares of the biotechnology company’s stock valued at $3,008,000 after purchasing an additional 132 shares during the last quarter. Pallas Capital Advisors LLC boosted its position in shares of Blueprint Medicines by 3.2% in the 3rd quarter. Pallas Capital Advisors LLC now owns 5,657 shares of the biotechnology company’s stock valued at $523,000 after purchasing an additional 176 shares during the period. Finally, Clarus Wealth Advisors grew its stake in Blueprint Medicines by 8.6% during the 3rd quarter. Clarus Wealth Advisors now owns 2,590 shares of the biotechnology company’s stock worth $231,000 after buying an additional 206 shares during the last quarter.

Insiders Place Their Bets

In other news, insider Fouad Namouni sold 3,633 shares of the stock in a transaction dated 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 sale, the insider now owns 69,070 shares in the company, valued at approximately $6,169,332.40. This trade represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.21% of the stock is currently owned by insiders.

Blueprint Medicines Trading Up 1.3 %

BPMC stock opened at $96.38 on Monday. Blueprint Medicines Co. has a 52 week low of $68.28 and a 52 week high of $121.90. The company has a market cap of $6.12 billion, a price-to-earnings ratio of -45.68 and a beta of 0.59. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09. The business has a fifty day simple moving average of $90.97 and a 200-day simple moving average of $98.10.

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

Wall Street Analyst Weigh In

Several analysts recently commented on BPMC shares. JMP Securities reiterated a “market outperform” rating and issued a $125.00 price target on shares of Blueprint Medicines in a research report on Monday, November 18th. Wedbush reiterated an “outperform” rating and issued a $135.00 target price on shares of Blueprint Medicines in a research note on Thursday, November 14th. StockNews.com upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research report on Friday, November 15th. 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 for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.