Y Intercept Hong Kong Ltd Buys Shares of 21,522 Blueprint Medicines Corporation (NASDAQ:BPMC)

Y Intercept Hong Kong Ltd purchased a new stake in Blueprint Medicines Corporation (NASDAQ:BPMC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 21,522 shares of the biotechnology company's stock, valued at approximately $1,905,000.

Other institutional investors have also added to or reduced their stakes in the company. Avoro Capital Advisors LLC acquired a new position in Blueprint Medicines in the 4th quarter valued at $103,356,000. Norges Bank acquired a new position in Blueprint Medicines in the 4th quarter valued at $62,028,000. Rock Springs Capital Management LP raised its holdings in Blueprint Medicines by 42.7% in the 4th quarter. Rock Springs Capital Management LP now owns 1,096,899 shares of the biotechnology company's stock valued at $95,672,000 after acquiring an additional 328,123 shares in the last quarter. Wellington Management Group LLP raised its holdings in Blueprint Medicines by 8.0% in the 4th quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company's stock valued at $373,421,000 after acquiring an additional 316,754 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Blueprint Medicines by 5.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,679,089 shares of the biotechnology company's stock valued at $495,331,000 after acquiring an additional 291,822 shares in the last quarter.

Blueprint Medicines Price Performance

Shares of BPMC remained flat at $129.46 during trading hours on Friday. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 1.01. The company has a 50 day moving average of $122.99 and a 200-day moving average of $104.61. Blueprint Medicines Corporation has a 12-month low of $73.04 and a 12-month high of $129.65. The company has a market capitalization of $8.36 billion, a PE ratio of -52.41 and a beta of 0.89.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.32). Blueprint Medicines had a negative return on equity of 64.60% and a negative net margin of 27.70%. The business had revenue of $149.41 million during the quarter, compared to analysts' expectations of $158.31 million. During the same period in the prior year, the firm posted $1.40 EPS. The firm's revenue for the quarter was up 55.5% on a year-over-year basis. As a group, research analysts expect that Blueprint Medicines Corporation will post -1.28 EPS for the current year.

Insiders Place Their Bets

In other Blueprint Medicines news, insider Percy H. Carter sold 1,051 shares of the business's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $128.25, for a total value of $134,790.75. Following the transaction, the insider owned 53,155 shares of the company's stock, valued at approximately $6,817,128.75. The trade was a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Christina Rossi sold 2,274 shares of the business's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $100.51, for a total value of $228,559.74. Following the completion of the transaction, the chief operating officer directly owned 64,718 shares in the company, valued at approximately $6,504,806.18. This represents a 3.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,351 shares of company stock worth $1,384,244 in the last ninety days. Company insiders own 4.21% of the company's stock.

Analyst Upgrades and Downgrades

BPMC has been the topic of several analyst reports. HC Wainwright reiterated a "buy" rating and set a $135.00 price target on shares of Blueprint Medicines in a research report on Friday, May 2nd. Wall Street Zen raised Blueprint Medicines to a "hold" rating in a report on Friday, July 18th. Wolfe Research cut shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 3rd. Citigroup raised Blueprint Medicines from a "strong sell" rating to a "hold" rating and raised their price objective for the company from $83.00 to $129.00 in a research note on Wednesday, June 4th. Finally, TD Cowen cut Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 3rd. Eighteen investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $128.25.

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.