5,754 Shares in Blueprint Medicines Corporation (NASDAQ:BPMC) Acquired by Neo Ivy Capital Management

Neo Ivy Capital Management purchased a new position in Blueprint Medicines Corporation (NASDAQ:BPMC) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,754 shares of the biotechnology company’s stock, valued at approximately $509,000.

Other institutional investors also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new position in Blueprint Medicines in the fourth quarter worth approximately $65,000. Thematics Asset Management acquired a new stake in Blueprint Medicines during the fourth quarter worth approximately $72,000. Covestor Ltd raised its holdings in Blueprint Medicines by 62.7% during the fourth quarter. Covestor Ltd now owns 973 shares of the biotechnology company’s stock worth $85,000 after purchasing an additional 375 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Blueprint Medicines during the fourth quarter worth approximately $106,000. Finally, GF Fund Management CO. LTD. acquired a new stake in Blueprint Medicines during the fourth quarter worth approximately $116,000.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Citigroup raised shares of Blueprint Medicines from a “strong sell” rating to a “hold” rating and raised their price objective for the stock from $83.00 to $129.00 in a report on Wednesday, June 4th. Wolfe Research cut shares of Blueprint Medicines from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 3rd. TD Cowen cut shares of Blueprint Medicines from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 3rd. Cowen cut shares of Blueprint Medicines to a “hold” rating in a report on Monday, June 2nd. Finally, Needham & Company LLC cut shares of Blueprint Medicines from a “buy” rating to a “hold” rating and set a $130.00 target price on the stock. in a report on Monday, June 2nd. Eighteen equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $128.25.

Insider Activity

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $101.14, for a total transaction of $505,700.00. Following the sale, the director directly owned 146,630 shares in the company, valued at approximately $14,830,158.20. The trade was a 3.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Christina Rossi sold 2,274 shares of the business’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $100.51, for a total transaction of $228,559.74. Following the sale, the chief operating officer owned 64,718 shares in the company, valued at $6,504,806.18. The trade was a 3.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,351 shares of company stock valued at $1,384,244. Corporate insiders own 4.21% of the company’s stock.

Blueprint Medicines Stock Performance

NASDAQ:BPMC opened at $129.46 on Friday. The firm’s fifty day moving average price is $122.99 and its 200 day moving average price is $104.52. Blueprint Medicines Corporation has a 1-year low of $73.04 and a 1-year high of $129.65. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.80 and a quick ratio of 2.75. The firm has a market cap of $8.36 billion, a price-to-earnings ratio of -52.41 and a beta of 0.89.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.32). Blueprint Medicines had a negative net margin of 27.70% and a negative return on equity of 64.60%. The firm had revenue of $149.41 million during the quarter, compared to analysts’ expectations of $158.31 million. During the same quarter last year, the business earned $1.40 earnings per share. The business’s quarterly revenue was up 55.5% on a year-over-year basis. On average, sell-side analysts expect that Blueprint Medicines Corporation will post -1.28 EPS for the current year.

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.