Jacobs Levy Equity Management Inc. Acquires 152,573 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Jacobs Levy Equity Management Inc. raised its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 30.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 648,660 shares of the biotechnology company’s stock after purchasing an additional 152,573 shares during the quarter. Jacobs Levy Equity Management Inc. owned 1.02% of Blueprint Medicines worth $56,576,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BPMC. R Squared Ltd purchased a new position in Blueprint Medicines in the fourth quarter valued at about $51,000. Headlands Technologies LLC acquired a new stake in shares of Blueprint Medicines during the fourth quarter worth about $65,000. Thematics Asset Management acquired a new stake in shares of Blueprint Medicines during the fourth quarter worth about $72,000. Covestor Ltd lifted its holdings in Blueprint Medicines by 62.7% in the fourth quarter. Covestor Ltd now owns 973 shares of the biotechnology company’s stock valued at $85,000 after acquiring an additional 375 shares during the period. Finally, Asset Management One Co. Ltd. acquired a new position in Blueprint Medicines in the fourth quarter valued at approximately $88,000.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BPMC. Morgan Stanley began coverage on Blueprint Medicines in a research note on Thursday, March 20th. They set an “equal weight” rating and a $100.00 target price for the company. Wedbush restated an “outperform” rating and issued a $128.00 target price on shares of Blueprint Medicines in a report on Thursday, May 1st. HC Wainwright reiterated a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a report on Friday, May 2nd. Needham & Company LLC lowered their price target on Blueprint Medicines from $133.00 to $130.00 and set a “buy” rating for the company in a report on Monday, April 28th. Finally, Scotiabank initiated coverage on Blueprint Medicines in a research note on Friday, March 7th. They set a “sector outperform” rating and a $150.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Blueprint Medicines presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.56.

Insider Buying and Selling at Blueprint Medicines

In related news, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction on Monday, May 5th. The stock was sold at an average price of $101.75, for a total transaction of $231,379.50. Following the completion of the transaction, the chief operating officer now directly owns 66,992 shares of the company’s stock, valued at approximately $6,816,436. The trade was a 3.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Ariel Hurley sold 3,203 shares of Blueprint Medicines stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.62, for a total value of $296,661.86. Following the transaction, the insider now directly owns 18,270 shares of the company’s stock, valued at approximately $1,692,167.40. This represents a 14.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,503 shares of company stock worth $1,027,931. 4.21% of the stock is currently owned by insiders.

Blueprint Medicines Trading Down 1.0%

BPMC opened at $97.74 on Monday. The business’s 50-day simple moving average is $88.49 and its 200-day simple moving average is $93.88. The company has a market cap of $6.31 billion, a P/E ratio of -90.50 and a beta of 0.83. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85. Blueprint Medicines Co. has a one year low of $73.04 and a one year high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.32). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. The firm had revenue of $149.41 million for the quarter, compared to analysts’ expectations of $158.31 million. During the same quarter in the prior year, the business earned $1.40 EPS. The company’s quarterly revenue was up 55.5% compared to the same quarter last year. As a group, equities research analysts expect that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.

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.