First Turn Management LLC Invests $19.93 Million in Blueprint Medicines Co. (NASDAQ:BPMC)

First Turn Management LLC purchased a new position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 184,901 shares of the biotechnology company’s stock, valued at approximately $19,929,000. Blueprint Medicines comprises about 3.2% of First Turn Management LLC’s portfolio, making the stock its 11th largest position. First Turn Management LLC owned 0.30% of Blueprint Medicines as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Gilbert & Cook Inc. grew its position in Blueprint Medicines by 8.5% in the 4th quarter. Gilbert & Cook Inc. now owns 4,846 shares of the biotechnology company’s stock valued at $447,000 after buying an additional 380 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Blueprint Medicines by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 476,063 shares of the biotechnology company’s stock valued at $43,912,000 after purchasing an additional 7,646 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Blueprint Medicines by 1.7% during the 4th quarter. Principal Financial Group Inc. now owns 14,510 shares of the biotechnology company’s stock valued at $1,338,000 after purchasing an additional 247 shares in the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in shares of Blueprint Medicines during the 4th quarter valued at about $321,000. Finally, Panagora Asset Management Inc. boosted its position in shares of Blueprint Medicines by 2.7% during the 4th quarter. Panagora Asset Management Inc. now owns 270,510 shares of the biotechnology company’s stock valued at $24,952,000 after purchasing an additional 7,122 shares in the last quarter.

Insider Activity

In other news, insider Debra Durso-Bumpus sold 333 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $111.15, for a total value of $37,012.95. Following the completion of the sale, the insider now directly owns 43,763 shares of the company’s stock, valued at approximately $4,864,257.45. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Debra Durso-Bumpus sold 333 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $111.15, for a total transaction of $37,012.95. Following the completion of the sale, the insider now directly owns 43,763 shares of the company’s stock, valued at approximately $4,864,257.45. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Philina Lee sold 41,913 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $93.19, for a total value of $3,905,872.47. Following the sale, the insider now directly owns 34,729 shares of the company’s stock, valued at $3,236,395.51. The disclosure for this sale can be found here. Insiders sold a total of 128,947 shares of company stock valued at $13,065,852 in the last ninety days. 4.21% of the stock is owned by insiders.

Blueprint Medicines Stock Down 2.8 %

Shares of NASDAQ BPMC opened at $84.10 on Friday. The firm’s 50-day simple moving average is $100.99 and its 200 day simple moving average is $99.22. The company has a market cap of $5.27 billion, a price-to-earnings ratio of -17.48 and a beta of 0.58. The company has a quick ratio of 3.65, a current ratio of 3.71 and a debt-to-equity ratio of 1.06. Blueprint Medicines Co. has a 12-month low of $43.89 and a 12-month high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings data 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 firm had revenue of $138.20 million during the quarter, compared to analysts’ expectations of $104.02 million. Blueprint Medicines had a negative return on equity of 157.30% and a negative net margin of 56.64%. The company’s quarterly revenue was up 139.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($2.19) EPS. On average, research analysts expect that Blueprint Medicines Co. will post -3.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on BPMC shares. Robert W. Baird upped their price objective on shares of Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Baird R W raised shares of Blueprint Medicines to a “strong-buy” rating in a research note on Friday, August 2nd. Oppenheimer increased their price target on shares of Blueprint Medicines from $114.00 to $125.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Guggenheim increased their price target on shares of Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, JMP Securities reissued a “market outperform” rating and issued a $125.00 price target on shares of Blueprint Medicines in a research report on Friday, June 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.