Blueprint Medicines Corporation (BPMC) Position Boosted by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA increased its position in Blueprint Medicines Corporation (NASDAQ:BPMC) by 4,457.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,238 shares of the biotechnology company’s stock after acquiring an additional 4,145 shares during the period. BNP Paribas Arbitrage SA’s holdings in Blueprint Medicines Corporation were worth $215,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Legal & General Group Plc raised its holdings in Blueprint Medicines Corporation by 64.8% in the 2nd quarter. Legal & General Group Plc now owns 9,694 shares of the biotechnology company’s stock worth $490,000 after acquiring an additional 3,810 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Blueprint Medicines Corporation by 44.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 174,703 shares of the biotechnology company’s stock worth $8,853,000 after acquiring an additional 54,135 shares during the last quarter. SG Americas Securities LLC raised its holdings in Blueprint Medicines Corporation by 23.3% in the 2nd quarter. SG Americas Securities LLC now owns 4,113 shares of the biotechnology company’s stock worth $208,000 after acquiring an additional 778 shares during the last quarter. State of Wisconsin Investment Board purchased a new position in Blueprint Medicines Corporation in the 2nd quarter worth approximately $1,368,000. Finally, Dupont Capital Management Corp purchased a new position in Blueprint Medicines Corporation in the 2nd quarter worth approximately $422,000. Institutional investors own 90.71% of the company’s stock.
Shares of Blueprint Medicines Corporation (NASDAQ BPMC) opened at 62.28 on Friday. Blueprint Medicines Corporation has a 52 week low of $25.08 and a 52 week high of $64.98. The firm’s 50-day moving average is $50.77 and its 200-day moving average is $45.84. The stock’s market capitalization is $2.44 billion.
Blueprint Medicines Corporation (NASDAQ:BPMC) last announced its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.86) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.75) by ($0.11). The firm had revenue of $5.89 million during the quarter, compared to analyst estimates of $5.96 million. Blueprint Medicines Corporation had a negative net margin of 388.91% and a negative return on equity of 45.58%. Blueprint Medicines Corporation’s revenue was down 16.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.70) earnings per share. Analysts forecast that Blueprint Medicines Corporation will post ($3.59) earnings per share for the current fiscal year.
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A number of brokerages recently weighed in on BPMC. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $79.00 price objective (up from $64.00) on shares of Blueprint Medicines Corporation in a report on Wednesday. Canaccord Genuity boosted their price objective on shares of Blueprint Medicines Corporation from $56.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday. Jefferies Group LLC restated a “buy” rating and issued a $56.00 price objective on shares of Blueprint Medicines Corporation in a report on Tuesday, September 5th. Zacks Investment Research upgraded shares of Blueprint Medicines Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 17th. Finally, BidaskClub upgraded shares of Blueprint Medicines Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $54.40.
In other Blueprint Medicines Corporation news, Director Daniel Lynch sold 2,500 shares of the firm’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $60.00, for a total value of $150,000.00. Following the completion of the transaction, the director now owns 209,342 shares of the company’s stock, valued at $12,560,520. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Kate Haviland sold 6,357 shares of the firm’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $50.00, for a total transaction of $317,850.00. Following the completion of the transaction, the insider now directly owns 6,357 shares of the company’s stock, valued at approximately $317,850. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,478 shares of company stock valued at $7,016,156. Corporate insiders own 3.40% of the company’s stock.
Blueprint Medicines Corporation Profile
Blueprint Medicines Corporation is a biopharmaceutical company. The Company focuses on patients with genomically defined diseases driven by abnormal kinase activation. It focuses on crafting drug candidates that provide clinical responses to patients without adequate treatment options. It has developed a small molecule drug pipeline in cancer and a genetic disease.
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