nVerses Capital LLC Increases Stake in Blueprint Medicines Co. (NASDAQ:BPMC)

nVerses Capital LLC lifted its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 3,100.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,200 shares of the biotechnology company’s stock after buying an additional 3,100 shares during the quarter. nVerses Capital LLC’s holdings in Blueprint Medicines were worth $345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Van ECK Associates Corp increased its position in shares of Blueprint Medicines by 13.3% during the second quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $120,000 after buying an additional 131 shares during the period. Crossmark Global Holdings Inc. purchased a new position in shares of Blueprint Medicines during the second quarter valued at about $381,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Blueprint Medicines by 8.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,792 shares of the biotechnology company’s stock valued at $1,487,000 after buying an additional 1,064 shares during the period. Legato Capital Management LLC purchased a new stake in Blueprint Medicines in the second quarter worth about $557,000. Finally, Bank of New York Mellon Corp grew its holdings in Blueprint Medicines by 13.6% in the second quarter. Bank of New York Mellon Corp now owns 273,930 shares of the biotechnology company’s stock worth $29,524,000 after purchasing an additional 32,740 shares during the period.

Blueprint Medicines Stock Performance

Blueprint Medicines stock traded up $1.93 during midday trading on Friday, reaching $95.54. 307,148 shares of the company traded hands, compared to its average volume of 628,611. The firm has a market capitalization of $6.05 billion, a price-to-earnings ratio of -19.86 and a beta of 0.63. The business has a 50 day moving average of $104.36 and a two-hundred day moving average of $99.19. Blueprint Medicines Co. has a 12 month low of $43.89 and a 12 month high of $121.90. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.71 and a quick ratio of 3.65.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.49. The business had revenue of $138.20 million for the quarter, compared to the consensus estimate of $104.02 million. Blueprint Medicines had a negative net margin of 56.64% and a negative return on equity of 157.30%. The company’s quarterly revenue was up 139.9% on a year-over-year basis. During the same period last year, the firm earned ($2.19) earnings per share. As a group, research analysts predict that Blueprint Medicines Co. will post -3.99 earnings per share for the current year.

Insider Transactions at Blueprint Medicines

In other news, insider L. Becker Hewes sold 4,922 shares of Blueprint Medicines stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $106.43, for a total transaction of $523,848.46. Following the transaction, the insider now owns 31,938 shares in the company, valued at approximately $3,399,161.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider L. Becker Hewes sold 4,922 shares of Blueprint Medicines stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $106.43, for a total transaction of $523,848.46. Following the transaction, the insider now owns 31,938 shares in the company, valued at approximately $3,399,161.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Debra Durso-Bumpus sold 333 shares of Blueprint Medicines stock in a transaction on Friday, June 28th. The shares were sold at an average price of $111.15, for a total transaction of $37,012.95. Following the transaction, the insider now owns 43,763 shares in the company, valued at approximately $4,864,257.45. The disclosure for this sale can be found here. Insiders have sold 137,869 shares of company stock worth $14,010,220 in the last 90 days. 4.21% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BPMC shares. Needham & Company LLC restated a “buy” rating and issued a $130.00 price objective on shares of Blueprint Medicines in a report on Thursday, August 1st. Barclays upped their price objective on shares of Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Baird R W upgraded shares of Blueprint Medicines to a “strong-buy” rating in a report on Friday, August 2nd. Leerink Partners upgraded shares of Blueprint Medicines from an “underperform” rating to a “market perform” rating and upped their price objective for the stock from $50.00 to $97.00 in a report on Monday, May 6th. Finally, Oppenheimer increased their price target on shares of Blueprint Medicines from $114.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $120.00.

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.