Point72 Asset Management L.P. Invests $14.52 Million in Blueprint Medicines Co. (NASDAQ:BPMC)

Point72 Asset Management L.P. bought a new stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 166,418 shares of the biotechnology company's stock, valued at approximately $14,515,000. Point72 Asset Management L.P. owned about 0.26% of Blueprint Medicines as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. R Squared Ltd purchased a new stake in Blueprint Medicines during the 4th quarter valued at about $51,000. Headlands Technologies LLC bought a new position in shares of Blueprint Medicines in the fourth quarter worth approximately $65,000. Thematics Asset Management purchased a new stake in shares of Blueprint Medicines during the fourth quarter valued at approximately $72,000. Covestor Ltd increased its position in shares of Blueprint Medicines by 62.7% during the fourth quarter. Covestor Ltd now owns 973 shares of the biotechnology company's stock valued at $85,000 after acquiring an additional 375 shares in the last quarter. Finally, Asset Management One Co. Ltd. purchased a new position in Blueprint Medicines in the 4th quarter worth approximately $88,000.

Blueprint Medicines Price Performance

Shares of BPMC stock traded up $0.92 on Friday, reaching $101.26. The company's stock had a trading volume of 86,217 shares, compared to its average volume of 986,641. The stock's fifty day simple moving average is $90.53 and its 200-day simple moving average is $94.63. Blueprint Medicines Co. has a 1 year low of $73.04 and a 1 year high of $121.90. The company has a market capitalization of $6.54 billion, a price-to-earnings ratio of -93.75 and a beta of 0.83. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The biotechnology company reported ($0.74) EPS for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.32). The business had revenue of $149.41 million during the quarter, compared to analysts' expectations of $158.31 million. Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. The business's quarterly revenue was up 55.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.40 earnings per share. Analysts forecast that Blueprint Medicines Co. will post -1.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

In related news, insider Ariel Hurley sold 2,752 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $103.13, for a total value of $283,813.76. Following the sale, the insider now directly owns 16,944 shares of the company's stock, valued at $1,747,434.72. This represents a 13.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Christina Rossi sold 2,274 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $95.02, for a total transaction of $216,075.48. Following the completion of the sale, the chief operating officer now directly owns 69,266 shares of the company's stock, valued at approximately $6,581,655.32. The trade was a 3.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,777 shares of company stock worth $1,256,490 over the last ninety days. Company insiders own 4.21% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on BPMC shares. JMP Securities reissued a "market outperform" rating and issued a $125.00 target price on shares of Blueprint Medicines in a report on Friday, February 14th. Wolfe Research initiated coverage on Blueprint Medicines in a report on Tuesday, March 18th. They issued an "outperform" rating for the company. Morgan Stanley assumed coverage on shares of Blueprint Medicines in a research note on Thursday, March 20th. They set an "equal weight" rating and a $100.00 target price on the stock. Wedbush reaffirmed an "outperform" rating and set a $128.00 price target on shares of Blueprint Medicines in a report on Thursday, May 1st. Finally, Wall Street Zen raised shares of Blueprint Medicines from a "sell" rating to a "hold" rating in a report on Friday, May 2nd. Five research 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $126.56.

Blueprint Medicines Company 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.