Kennedy Capital Management LLC Acquires New Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Kennedy Capital Management LLC bought a new position in Blueprint Medicines Co. (NASDAQ:BPMC) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,320 shares of the biotechnology company’s stock, valued at approximately $220,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BPMC. Covestor Ltd lifted its holdings in shares of Blueprint Medicines by 9,700.0% in the 1st quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 291 shares during the last quarter. Headlands Technologies LLC increased its stake in Blueprint Medicines by 105.2% in the 1st quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 342 shares during the period. Natixis purchased a new stake in shares of Blueprint Medicines during the first quarter valued at approximately $73,000. Van ECK Associates Corp increased its stake in shares of 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 buying an additional 193 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Blueprint Medicines in the fourth quarter valued at about $95,000.

Blueprint Medicines Stock Down 7.4 %

Shares of NASDAQ:BPMC opened at $100.29 on Friday. Blueprint Medicines Co. has a 12-month low of $43.89 and a 12-month high of $121.90. The stock has a 50 day moving average of $108.87 and a 200 day moving average of $96.99. The company has a current ratio of 3.76, a quick ratio of 3.61 and a debt-to-equity ratio of 0.67.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Thursday, May 2nd. The biotechnology company reported ($1.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.64) by $0.32. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 193.48%. The company had revenue of $96.12 million for the quarter, compared to analysts’ expectations of $82.58 million. Sell-side analysts expect that Blueprint Medicines Co. will post -4.67 earnings per share for the current fiscal year.

Insider Activity at Blueprint Medicines

In other news, insider L. Becker Hewes sold 34,108 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $105.91, for a total transaction of $3,612,378.28. Following the completion of the transaction, the insider now owns 36,860 shares in the company, valued at $3,903,842.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Percy H. Carter sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $105.13, for a total transaction of $420,520.00. Following the transaction, the insider now owns 41,895 shares of the company’s stock, valued at approximately $4,404,421.35. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider L. Becker Hewes sold 34,108 shares of Blueprint Medicines stock in a transaction on Friday, May 31st. The stock was sold at an average price of $105.91, for a total transaction of $3,612,378.28. Following the transaction, the insider now directly owns 36,860 shares of the company’s stock, valued at $3,903,842.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,064 shares of company stock valued at $13,716,726. 4.21% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus lifted their price objective on Blueprint Medicines from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Barclays raised their target price on shares of Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday. Needham & Company LLC reissued a “buy” rating and issued a $130.00 price target on shares of Blueprint Medicines in a research note on Thursday. Morgan Stanley lifted their price objective on Blueprint Medicines from $110.00 to $115.00 and gave the company an “equal weight” rating in a research report on Friday, July 12th. Finally, Leerink Partnrs raised Blueprint Medicines from an “underperform” rating to a “market perform” rating in a research report on Monday, May 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $118.33.

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.