Blueprint Medicines Co. (NASDAQ:BPMC) Shares Purchased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC boosted its holdings in Blueprint Medicines Co. (NASDAQ:BPMC) by 19.4% during the 1st quarter, Holdings Channel reports. The fund owned 6,843 shares of the biotechnology company’s stock after acquiring an additional 1,114 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Blueprint Medicines were worth $606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in BPMC. Avoro Capital Advisors LLC acquired a new stake in Blueprint Medicines in the 4th quarter valued at approximately $103,356,000. Norges Bank acquired a new stake in Blueprint Medicines in the 4th quarter valued at approximately $62,028,000. Rock Springs Capital Management LP increased its position in Blueprint Medicines by 42.7% in the 4th quarter. Rock Springs Capital Management LP now owns 1,096,899 shares of the biotechnology company’s stock valued at $95,672,000 after acquiring an additional 328,123 shares during the period. Wellington Management Group LLP increased its position in shares of Blueprint Medicines by 8.0% during the 4th quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company’s stock valued at $373,421,000 after purchasing an additional 316,754 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Blueprint Medicines by 5.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,679,089 shares of the biotechnology company’s stock valued at $495,331,000 after purchasing an additional 291,822 shares during the period.

Blueprint Medicines Stock Performance

Shares of Blueprint Medicines stock opened at $127.95 on Thursday. The stock has a market cap of $8.26 billion, a PE ratio of -118.47 and a beta of 0.84. The business has a fifty day simple moving average of $98.09 and a 200-day simple moving average of $96.55. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15. Blueprint Medicines Co. has a 12 month low of $73.04 and a 12 month high of $128.34.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.32). The business had revenue of $149.41 million during the quarter, compared to analyst estimates of $158.31 million. Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. The business’s quarterly revenue was up 55.5% on a year-over-year basis. During the same period last year, the business earned $1.40 EPS. On average, sell-side analysts anticipate that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BPMC has been the topic of several research analyst reports. Scotiabank cut Blueprint Medicines from a “strong-buy” rating to a “sector perform” rating and set a $135.00 price target on the stock. in a research report on Monday, June 2nd. Needham & Company LLC cut Blueprint Medicines from a “buy” rating to a “hold” rating and set a $130.00 price target on the stock. in a research report on Monday, June 2nd. Wall Street Zen upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Friday, May 2nd. Wolfe Research cut Blueprint Medicines from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 3rd. Finally, TD Cowen cut Blueprint Medicines from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 3rd. Seventeen investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Blueprint Medicines currently has an average rating of “Hold” and an average target price of $129.35.

Insider Transactions at Blueprint Medicines

In related news, insider Ariel Hurley sold 2,752 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $103.13, for a total value of $283,813.76. Following the completion of the sale, the insider now owns 16,944 shares of the company’s stock, valued at approximately $1,747,434.72. The trade was a 13.97% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Christina Rossi sold 2,274 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $95.02, for a total value of $216,075.48. Following the completion of the transaction, the chief operating officer now owns 69,266 shares in the company, valued at $6,581,655.32. This represents a 3.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,574 shares of company stock valued at $1,465,528 over the last quarter. Company insiders own 4.21% of the company’s stock.

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.