Readystate Asset Management LP Takes $3.69 Million Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Readystate Asset Management LP acquired a new stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 40,028 shares of the biotechnology company’s stock, valued at approximately $3,692,000. Readystate Asset Management LP owned 0.07% of Blueprint Medicines as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in Blueprint Medicines by 0.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,414 shares of the biotechnology company’s stock worth $3,451,000 after acquiring an additional 145 shares during the period. Van ECK Associates Corp lifted its stake in Blueprint Medicines by 28.4% in the fourth quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock worth $80,000 after acquiring an additional 193 shares during the period. Rhumbline Advisers lifted its stake in Blueprint Medicines by 0.3% in the first quarter. Rhumbline Advisers now owns 81,233 shares of the biotechnology company’s stock worth $3,655,000 after acquiring an additional 226 shares during the period. Principal Financial Group Inc. lifted its stake in Blueprint Medicines by 1.7% in the fourth quarter. Principal Financial Group Inc. now owns 14,510 shares of the biotechnology company’s stock worth $1,338,000 after acquiring an additional 247 shares during the period. Finally, Corton Capital Inc. lifted its stake in Blueprint Medicines by 5.4% in the first quarter. Corton Capital Inc. now owns 4,898 shares of the biotechnology company’s stock worth $220,000 after acquiring an additional 252 shares during the period.

Insiders Place Their Bets

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 25,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $81.91, for a total value of $2,047,750.00. Following the transaction, the director now directly owns 176,050 shares of the company’s stock, valued at $14,420,255.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Blueprint Medicines news, Director Jeffrey W. Albers sold 25,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $81.91, for a total value of $2,047,750.00. Following the transaction, the director now directly owns 176,050 shares of the company’s stock, valued at $14,420,255.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher K. Murray sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $100.00, for a total value of $500,000.00. Following the completion of the transaction, the insider now directly owns 24,495 shares in the company, valued at $2,449,500. The disclosure for this sale can be found here. Over the last three months, insiders have sold 117,289 shares of company stock valued at $10,361,913. Insiders own 3.88% of the company’s stock.

Blueprint Medicines Stock Performance

NASDAQ BPMC traded up $2.29 during trading hours on Wednesday, hitting $88.38. The company’s stock had a trading volume of 728,290 shares, compared to its average volume of 765,951. Blueprint Medicines Co. has a 12 month low of $43.89 and a 12 month high of $101.00. The company’s 50 day simple moving average is $89.22 and its two-hundred day simple moving average is $76.96. The company has a market cap of $5.41 billion, a P/E ratio of -10.57 and a beta of 0.63. The company has a debt-to-equity ratio of 1.60, a current ratio of 3.76 and a quick ratio of 3.66.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.82) EPS for the quarter, topping the consensus estimate of ($2.04) by $0.22. Blueprint Medicines had a negative return on equity of 191.56% and a negative net margin of 203.30%. The company had revenue of $71.96 million during the quarter, compared to the consensus estimate of $67.34 million. During the same period last year, the company earned ($2.65) EPS. Blueprint Medicines’s revenue for the quarter was up 85.5% on a year-over-year basis. As a group, sell-side analysts expect that Blueprint Medicines Co. will post -5.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Citigroup raised their price target on Blueprint Medicines from $54.00 to $65.00 and gave the stock a “sell” rating in a research note on Friday, February 16th. Raymond James increased their price objective on Blueprint Medicines from $85.00 to $100.00 and gave the stock a “strong-buy” rating in a report on Friday, December 22nd. Barclays increased their price objective on Blueprint Medicines from $58.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 13th. Wedbush reiterated an “outperform” rating and issued a $97.00 price objective on shares of Blueprint Medicines in a report on Monday, February 5th. Finally, Stifel Nicolaus increased their price objective on Blueprint Medicines from $95.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Four analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $85.43.

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.