Jacobs Levy Equity Management Inc. Boosts Stock Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Jacobs Levy Equity Management Inc. boosted its stake in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 30.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 648,660 shares of the biotechnology company's stock after buying an additional 152,573 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 1.02% of Blueprint Medicines worth $56,576,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Gotham Asset Management LLC purchased a new position in Blueprint Medicines in the 4th quarter valued at about $309,000. Graham Capital Management L.P. lifted its stake in Blueprint Medicines by 48.8% in the 4th quarter. Graham Capital Management L.P. now owns 25,260 shares of the biotechnology company's stock worth $2,203,000 after purchasing an additional 8,283 shares in the last quarter. Granahan Investment Management LLC lifted its stake in Blueprint Medicines by 8.2% in the 4th quarter. Granahan Investment Management LLC now owns 141,890 shares of the biotechnology company's stock worth $12,376,000 after purchasing an additional 10,744 shares in the last quarter. Frontier Capital Management Co. LLC lifted its stake in Blueprint Medicines by 401.6% in the 4th quarter. Frontier Capital Management Co. LLC now owns 105,130 shares of the biotechnology company's stock worth $9,169,000 after purchasing an additional 84,171 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in Blueprint Medicines by 9.4% in the 4th quarter. Deutsche Bank AG now owns 261,363 shares of the biotechnology company's stock worth $22,796,000 after purchasing an additional 22,412 shares in the last quarter.

Insider Activity at Blueprint Medicines

In related news, insider Ariel Hurley sold 2,752 shares of Blueprint Medicines stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $103.13, for a total value of $283,813.76. Following the completion of the sale, the insider now owns 16,944 shares in the company, valued at approximately $1,747,434.72. This trade represents a 13.97% decrease in their position. 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 Blueprint Medicines stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $101.75, for a total transaction of $231,379.50. Following the completion of the sale, the chief operating officer now owns 66,992 shares of the company's stock, valued at $6,816,436. This trade represents a 3.28% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,503 shares of company stock worth $1,027,931. Insiders own 4.21% of the company's stock.

Blueprint Medicines Trading Up 2.2%

Blueprint Medicines stock traded up $2.20 during trading on Friday, hitting $101.69. The company had a trading volume of 581,639 shares, compared to its average volume of 781,598. Blueprint Medicines Co. has a 1-year low of $73.04 and a 1-year 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 company's 50 day simple moving average is $89.65 and its 200-day simple moving average is $94.35. The stock has a market cap of $6.57 billion, a price-to-earnings ratio of -94.16 and a beta of 0.83.

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 for the quarter, missing the consensus estimate of ($0.42) by ($0.32). Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. The company had revenue of $149.41 million during the quarter, compared to analyst estimates of $158.31 million. During the same quarter last year, the business posted $1.40 EPS. The firm's revenue for the quarter was up 55.5% on a year-over-year basis. As a group, analysts expect that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.

Analysts Set New Price Targets

BPMC has been the topic of a number of research reports. Piper Sandler raised their target price on shares of Blueprint Medicines from $109.00 to $119.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. Wolfe Research initiated coverage on shares of Blueprint Medicines in a research note on Tuesday, March 18th. They issued an "outperform" rating on the stock. Jefferies Financial Group initiated coverage on shares of Blueprint Medicines in a research note on Monday, March 17th. They issued a "buy" rating and a $135.00 target price on the stock. Morgan Stanley initiated coverage on shares of Blueprint Medicines in a research note on Thursday, March 20th. They issued an "equal weight" rating and a $100.00 target price on the stock. Finally, StockNews.com raised shares of Blueprint Medicines from a "sell" rating to a "hold" rating in a research note on Friday, May 2nd. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Blueprint Medicines currently has a consensus rating of "Moderate Buy" and a consensus price target 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.