Quantitative Systematic Strategies LLC Makes New Investment in Blueprint Medicines Corp (NASDAQ:BPMC)

Quantitative Systematic Strategies LLC bought a new position in Blueprint Medicines Corp (NASDAQ:BPMC) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 10,541 shares of the biotechnology company’s stock, valued at approximately $994,000.

Other hedge funds have also recently modified their holdings of the company. Whittier Trust Co. purchased a new stake in shares of Blueprint Medicines in the 2nd quarter worth $97,000. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Blueprint Medicines in the 4th quarter worth $140,000. Financial Counselors Inc. purchased a new stake in shares of Blueprint Medicines in the 1st quarter worth $231,000. Staley Capital Advisers Inc. purchased a new stake in shares of Blueprint Medicines during the 1st quarter worth $240,000. Finally, Amalgamated Bank purchased a new stake in shares of Blueprint Medicines during the 4th quarter worth $327,000. Institutional investors and hedge funds own 97.58% of the company’s stock.

NASDAQ:BPMC traded up $0.29 during mid-day trading on Tuesday, hitting $87.55. 3,956 shares of the company’s stock traded hands, compared to its average volume of 365,259. The stock has a fifty day moving average of $96.06. Blueprint Medicines Corp has a twelve month low of $44.58 and a twelve month high of $102.98. The company has a market cap of $4.35 billion, a P/E ratio of -16.36 and a beta of 1.55. The company has a quick ratio of 7.52, a current ratio of 7.52 and a debt-to-equity ratio of 0.16.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Thursday, August 1st. The biotechnology company reported ($2.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.92) by ($0.12). Blueprint Medicines had a negative net margin of 4,268.74% and a negative return on equity of 73.73%. The business had revenue of $5.11 million for the quarter, compared to analyst estimates of $1.39 million. During the same period in the prior year, the company earned ($0.62) earnings per share. The company’s quarterly revenue was down 87.7% on a year-over-year basis. Analysts expect that Blueprint Medicines Corp will post -8.1 earnings per share for the current year.

A number of brokerages recently weighed in on BPMC. Zacks Investment Research upgraded Blueprint Medicines from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research note on Tuesday, April 30th. ValuEngine upgraded Blueprint Medicines from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 4th. Cowen restated a “buy” rating on shares of Blueprint Medicines in a research note on Monday, June 17th. Goldman Sachs Group restated a “buy” rating and set a $125.00 price objective on shares of Blueprint Medicines in a research note on Thursday, May 23rd. Finally, Robert W. Baird began coverage on Blueprint Medicines in a research note on Thursday, July 18th. They set an “outperform” rating and a $120.00 price objective for the company. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $109.44.

In related news, Director Nicholas Lydon sold 25,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $84.77, for a total transaction of $2,119,250.00. Following the transaction, the director now directly owns 166,527 shares of the company’s stock, valued at approximately $14,116,493.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey W. Albers sold 20,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $84.75, for a total value of $1,695,000.00. Following the transaction, the chief executive officer now directly owns 48,961 shares in the company, valued at $4,149,444.75. The disclosure for this sale can be found here. Insiders have sold a total of 113,378 shares of company stock worth $10,264,022 over the last ninety days. 4.02% of the stock is currently owned by corporate insiders.

About Blueprint Medicines

Blueprint Medicines Corporation develops drugs of small molecule kinase inhibitors that target genomic drivers in various cancers and a rare genetic disease. Its lead drug candidates include avapritinib, which completed Phase I clinical trials that targets PDGFRA Exon 18 mutant GIST and KIT-driven GIST; and BLU-554, which is in Phase I clinical trials an orally available, potent, and irreversible inhibitor of the kinase FGFR4 that is activated in a defined subset of patients with hepatocellular carcinoma.

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Institutional Ownership by Quarter for Blueprint Medicines (NASDAQ:BPMC)

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