Jacobs Levy Equity Management Inc. Has $45.89 Million Stock Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Jacobs Levy Equity Management Inc. raised its stake in Blueprint Medicines Co. (NASDAQ:BPMC) by 161.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 496,087 shares of the biotechnology company’s stock after buying an additional 306,079 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.78% of Blueprint Medicines worth $45,888,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cinctive Capital Management LP boosted its position in shares of Blueprint Medicines by 10.1% during the third quarter. Cinctive Capital Management LP now owns 74,341 shares of the biotechnology company’s stock worth $6,877,000 after buying an additional 6,839 shares during the period. Erste Asset Management GmbH acquired a new position in Blueprint Medicines during the 3rd quarter worth approximately $2,323,000. Edgestream Partners L.P. grew its stake in shares of Blueprint Medicines by 443.7% during the 3rd quarter. Edgestream Partners L.P. now owns 56,123 shares of the biotechnology company’s stock worth $5,191,000 after acquiring an additional 45,800 shares in the last quarter. Eventide Asset Management LLC raised its holdings in shares of Blueprint Medicines by 50.5% in the third quarter. Eventide Asset Management LLC now owns 348,704 shares of the biotechnology company’s stock valued at $32,255,000 after purchasing an additional 117,019 shares during the last quarter. Finally, Verition Fund Management LLC lifted its position in shares of Blueprint Medicines by 77.5% in the third quarter. Verition Fund Management LLC now owns 9,759 shares of the biotechnology company’s stock worth $903,000 after purchasing an additional 4,260 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BPMC. HC Wainwright reiterated a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a research note on Friday, November 15th. JPMorgan Chase & Co. began coverage on Blueprint Medicines in a research report on Thursday, November 14th. They issued an “overweight” rating and a $126.00 target price on the stock. Wedbush reissued an “outperform” rating and set a $135.00 price target on shares of Blueprint Medicines in a research report on Thursday, November 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a research report on Friday, November 15th. Finally, StockNews.com raised Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $122.11.

Blueprint Medicines Stock Down 1.1 %

BPMC opened at $96.53 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32. The business has a fifty day simple moving average of $91.12 and a 200 day simple moving average of $97.97. Blueprint Medicines Co. has a 1 year low of $70.39 and a 1 year high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.08. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The company had revenue of $128.20 million during the quarter, compared to analysts’ expectations of $127.56 million. During the same quarter in the previous year, the business posted ($2.20) earnings per share. Blueprint Medicines’s quarterly revenue was up 126.5% on a year-over-year basis. Equities analysts anticipate that Blueprint Medicines Co. will post -3.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Kate Haviland sold 2,353 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $96.60, for a total value of $227,299.80. Following the completion of the transaction, the chief executive officer now owns 150,824 shares of the company’s stock, valued at $14,569,598.40. The trade was a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Fouad Namouni sold 3,633 shares of the company’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total transaction of $324,499.56. Following the sale, the insider now directly owns 69,070 shares of the company’s stock, valued at $6,169,332.40. This represents a 5.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,260 shares of company stock worth $768,057 in the last quarter. Corporate insiders own 4.21% of the company’s stock.

About Blueprint Medicines

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.