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

Cinctive Capital Management LP increased its holdings in Blueprint Medicines Co. (NASDAQ:BPMC) by 10.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 74,341 shares of the biotechnology company’s stock after acquiring an additional 6,839 shares during the quarter. Cinctive Capital Management LP’s holdings in Blueprint Medicines were worth $6,877,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BPMC. Triad Wealth Partners LLC acquired a new position in shares of Blueprint Medicines in the 2nd quarter valued at approximately $27,000. Covestor Ltd increased its stake in shares of Blueprint Medicines by 206.7% in the third quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock worth $55,000 after buying an additional 403 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Blueprint Medicines in the third quarter valued at $108,000. CWM LLC boosted its stake in Blueprint Medicines by 114.6% during the 2nd quarter. CWM LLC now owns 1,105 shares of the biotechnology company’s stock valued at $119,000 after acquiring an additional 590 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in Blueprint Medicines by 13.3% during the 2nd quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock worth $120,000 after acquiring an additional 131 shares in the last quarter.

Blueprint Medicines Stock Up 1.3 %

Blueprint Medicines 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 current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09. The stock has a market cap of $6.12 billion, a price-to-earnings ratio of -45.68 and a beta of 0.59. The company’s 50-day moving average price is $90.97 and its two-hundred day moving average price is $98.10.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.08. The firm had revenue of $128.20 million for the quarter, compared to analysts’ expectations 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 in the previous year, the business earned ($2.20) earnings per share. On average, analysts expect that Blueprint Medicines Co. will post -3.68 EPS for the current fiscal year.

Insider Activity

In other news, insider Fouad Namouni sold 3,633 shares of the business’s 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 directly owns 69,070 shares of the company’s stock, valued at $6,169,332.40. The trade was a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 4.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BPMC. JMP Securities reaffirmed a “market outperform” rating and set a $125.00 price target on shares of Blueprint Medicines in a research report on Monday, November 18th. Wells Fargo & Company reduced their target price on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. StockNews.com upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. initiated coverage on Blueprint Medicines in a research report on Thursday, November 14th. They set an “overweight” rating and a $126.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.