Blueprint Medicines Co. (NASDAQ:BPMC) Position Increased by Alkeon Capital Management LLC

Alkeon Capital Management LLC increased its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 11.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 800,628 shares of the biotechnology company's stock after buying an additional 81,700 shares during the period. Alkeon Capital Management LLC owned 1.26% of Blueprint Medicines worth $69,831,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Synovus Financial Corp raised its stake in shares of Blueprint Medicines by 4.0% during the 3rd quarter. Synovus Financial Corp now owns 24,047 shares of the biotechnology company's stock worth $2,224,000 after buying an additional 922 shares during the period. Franklin Resources Inc. lifted its holdings in Blueprint Medicines by 0.7% during the third quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company's stock valued at $3,259,000 after purchasing an additional 265 shares in the last quarter. Empirical Asset Management LLC purchased a new position in Blueprint Medicines during the fourth quarter valued at $2,348,000. SG Americas Securities LLC increased its stake in shares of Blueprint Medicines by 69.7% during the fourth quarter. SG Americas Securities LLC now owns 4,277 shares of the biotechnology company's stock worth $373,000 after purchasing an additional 1,756 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Blueprint Medicines by 207.5% during the fourth quarter. Fifth Third Bancorp now owns 3,075 shares of the biotechnology company's stock worth $268,000 after purchasing an additional 2,075 shares in the last quarter.

Blueprint Medicines Trading Up 0.6 %

BPMC traded up $0.60 during midday trading on Thursday, hitting $100.40. The company's stock had a trading volume of 433,335 shares, compared to its average volume of 776,448. The firm has a market cap of $6.48 billion, a P/E ratio of -92.96 and a beta of 0.83. Blueprint Medicines Co. has a 52-week low of $73.04 and a 52-week high of $121.90. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. The firm has a 50-day moving average price of $88.14 and a two-hundred day moving average price of $93.57.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.32). The business had revenue of $149.41 million for the quarter, compared to analyst estimates of $158.31 million. Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. The firm's revenue for the quarter was up 55.5% compared to the same quarter last year. During the same period last year, the company posted $1.40 EPS. On average, research analysts anticipate that Blueprint Medicines Co. will post -1.28 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Christina Rossi sold 2,274 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $101.75, for a total transaction of $231,379.50. Following the completion of the transaction, the chief operating officer now directly owns 66,992 shares in the company, valued at approximately $6,816,436. This represents a 3.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Ariel Hurley sold 3,203 shares of Blueprint Medicines stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.62, for a total transaction of $296,661.86. Following the completion of the sale, the insider now owns 18,270 shares of the company's stock, valued at approximately $1,692,167.40. This trade represents a 14.92 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,503 shares of company stock worth $1,027,931. 4.21% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

BPMC has been the subject of a number of recent research reports. Jefferies Financial Group initiated coverage on shares of Blueprint Medicines in a report on Monday, March 17th. They issued a "buy" rating and a $135.00 price objective for the company. Scotiabank started coverage on Blueprint Medicines in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $150.00 price objective on the stock. JMP Securities reissued a "market outperform" rating and set a $125.00 target price on shares of Blueprint Medicines in a research report on Friday, February 14th. Morgan Stanley started coverage on shares of Blueprint Medicines in a research note on Thursday, March 20th. They issued an "equal weight" rating and a $100.00 price objective for the company. Finally, Wolfe Research started coverage on Blueprint Medicines in a report on Tuesday, March 18th. They issued an "outperform" rating for the company. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $126.56.

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.