Pallas Capital Advisors LLC Purchases 252 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Pallas Capital Advisors LLC lifted its holdings in Blueprint Medicines Co. (NASDAQ:BPMC) by 4.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,481 shares of the biotechnology company’s stock after buying an additional 252 shares during the period. Pallas Capital Advisors LLC’s holdings in Blueprint Medicines were worth $622,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Strs Ohio boosted its holdings in shares of Blueprint Medicines by 94.3% in the fourth quarter. Strs Ohio now owns 6,800 shares of the biotechnology company’s stock valued at $627,000 after purchasing an additional 3,300 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Blueprint Medicines by 10.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,369 shares of the biotechnology company’s stock valued at $1,233,000 after acquiring an additional 1,314 shares in the last quarter. Federated Hermes Inc. purchased a new position in shares of Blueprint Medicines in the 4th quarter valued at $2,218,000. Xponance Inc. bought a new position in shares of Blueprint Medicines in the 4th quarter worth $378,000. Finally, Semanteon Capital Management LP purchased a new stake in shares of Blueprint Medicines during the 4th quarter worth $1,177,000.

Insider Activity at Blueprint Medicines

In other news, insider L. Becker Hewes sold 4,922 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $106.43, for a total transaction of $523,848.46. Following the transaction, the insider now directly owns 31,938 shares in the company, valued at approximately $3,399,161.34. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Blueprint Medicines news, insider L. Becker Hewes sold 4,922 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $106.43, for a total value of $523,848.46. Following the transaction, the insider now directly owns 31,938 shares in the company, valued at approximately $3,399,161.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Philina Lee sold 41,913 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the completion of the sale, the insider now directly owns 34,729 shares of the company’s stock, valued at approximately $3,236,395.51. The disclosure for this sale can be found here. In the last ninety days, insiders sold 171,977 shares of company stock valued at $17,622,599. 4.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BPMC has been the subject of a number of recent research reports. HC Wainwright boosted their target price on shares of Blueprint Medicines from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Needham & Company LLC reissued a “buy” rating and set a $130.00 target price on shares of Blueprint Medicines in a research report on Thursday, August 1st. The Goldman Sachs Group lifted their price target on shares of Blueprint Medicines from $121.00 to $168.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Stephens started coverage on Blueprint Medicines in a report on Tuesday, May 14th. They set an “overweight” rating and a $140.00 price objective for the company. Finally, Oppenheimer boosted their target price on Blueprint Medicines from $114.00 to $125.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Blueprint Medicines currently has a consensus rating of “Moderate Buy” and an average target price of $120.00.

Blueprint Medicines Price Performance

Shares of NASDAQ BPMC traded up $0.76 during trading on Wednesday, hitting $93.96. The company had a trading volume of 72,748 shares, compared to its average volume of 718,865. Blueprint Medicines Co. has a fifty-two week low of $43.89 and a fifty-two week high of $121.90. The company has a quick ratio of 3.61, a current ratio of 3.76 and a debt-to-equity ratio of 0.67. The stock has a fifty day simple moving average of $106.20 and a two-hundred day simple moving average of $98.31. The firm has a market capitalization of $5.88 billion, a price-to-earnings ratio of -19.74 and a beta of 0.63.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.80) EPS for the quarter, topping the consensus estimate of ($1.29) by $0.49. The company had revenue of $138.20 million during the quarter, compared to analyst estimates of $104.02 million. Blueprint Medicines had a negative return on equity of 176.65% and a negative net margin of 56.64%. Blueprint Medicines’s quarterly revenue was up 139.9% on a year-over-year basis. During the same period in the previous year, the business earned ($2.19) EPS. On average, research analysts expect that Blueprint Medicines Co. will post -4.67 earnings per share for the current year.

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.