Nomura Asset Management Co. Ltd. Grows Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Nomura Asset Management Co. Ltd. boosted its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 13.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 22,557 shares of the biotechnology company’s stock after purchasing an additional 2,741 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Blueprint Medicines were worth $2,087,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Quarry LP acquired a new position in Blueprint Medicines in the 3rd quarter valued at about $32,000. Covestor Ltd increased its holdings in shares of Blueprint Medicines by 206.7% in the third quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 403 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Blueprint Medicines during the third quarter worth approximately $108,000. CWM LLC raised its stake in shares of Blueprint Medicines by 114.6% during the second quarter. CWM LLC now owns 1,105 shares of the biotechnology company’s stock worth $119,000 after purchasing an additional 590 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Blueprint Medicines by 13.3% during the second quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock worth $120,000 after purchasing an additional 131 shares during the period.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wedbush reiterated an “outperform” rating and set a $135.00 price target on shares of Blueprint Medicines in a research note on Thursday, November 14th. Guggenheim restated a “buy” rating on shares of Blueprint Medicines in a research report on Wednesday. HC Wainwright reissued a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a report on Friday, November 15th. UBS Group initiated coverage on Blueprint Medicines in a research report on Thursday, October 24th. They set a “neutral” rating and a $88.00 target price on the stock. Finally, JMP Securities reissued a “market outperform” rating and set a $125.00 price objective on shares of Blueprint Medicines in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $122.11.

Blueprint Medicines Trading Up 0.7 %

Shares of BPMC opened at $93.19 on Friday. The stock has a 50-day moving average price of $92.03 and a 200 day moving average price of $97.49. Blueprint Medicines Co. has a one year low of $72.24 and a one year high of $121.90. The company has a market capitalization of $5.92 billion, a P/E ratio of -44.17 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.08. The business had revenue of $128.20 million for the quarter, compared to analyst estimates of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The company’s revenue for the quarter was up 126.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($2.20) EPS. Sell-side analysts forecast that Blueprint Medicines Co. will post -3.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Fouad Namouni sold 3,633 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total transaction of $324,499.56. Following the completion of the transaction, the insider now owns 69,070 shares of the company’s stock, valued at approximately $6,169,332.40. The trade was a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Kate Haviland sold 2,353 shares of Blueprint Medicines stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $96.60, for a total value of $227,299.80. Following the sale, the chief executive officer now directly owns 150,824 shares in the company, valued at approximately $14,569,598.40. This trade represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,260 shares of company stock valued at $768,057 over the last 90 days. 4.21% of the stock is owned by company insiders.

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.