9,951 Shares in Blueprint Medicines Co. (NASDAQ:BPMC) Bought by Empirical Finance LLC

Empirical Finance LLC purchased a new stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 9,951 shares of the biotechnology company’s stock, valued at approximately $875,000.

Other large investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in shares of Blueprint Medicines by 9.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,049,274 shares of the biotechnology company’s stock valued at $393,711,000 after acquiring an additional 361,508 shares in the last quarter. TimesSquare Capital Management LLC grew its holdings in shares of Blueprint Medicines by 10.2% during the second quarter. TimesSquare Capital Management LLC now owns 1,575,095 shares of the biotechnology company’s stock valued at $138,545,000 after buying an additional 146,025 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Blueprint Medicines by 2.5% in the first quarter. JPMorgan Chase & Co. now owns 1,537,343 shares of the biotechnology company’s stock valued at $149,475,000 after purchasing an additional 37,087 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Blueprint Medicines by 8.6% in the first quarter. Alliancebernstein L.P. now owns 1,399,369 shares of the biotechnology company’s stock worth $136,061,000 after acquiring an additional 110,564 shares during the period. Finally, William Blair Investment Management LLC raised its position in shares of Blueprint Medicines by 7.8% in the first quarter. William Blair Investment Management LLC now owns 1,059,271 shares of the biotechnology company’s stock worth $102,993,000 after acquiring an additional 76,457 shares during the period. 98.59% of the stock is currently owned by institutional investors and hedge funds.

BPMC has been the subject of a number of research analyst reports. Morgan Stanley lowered their price objective on shares of Blueprint Medicines from $101.00 to $96.00 and set an “equal weight” rating for the company in a research report on Friday, July 30th. Wedbush lowered their price objective on shares of Blueprint Medicines from $136.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, June 17th. SVB Leerink lifted their target price on shares of Blueprint Medicines from $127.00 to $137.00 and gave the company an “outperform” rating in a report on Thursday, June 17th. Finally, Robert W. Baird boosted their price objective on shares of Blueprint Medicines from $119.00 to $123.00 and gave the stock an “outperform” rating in a report on Thursday, June 17th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Blueprint Medicines presently has a consensus rating of “Buy” and a consensus price target of $115.71.

In related news, insider Ariel Hurley sold 1,350 shares of the company’s stock in a transaction on Tuesday, August 17th. The stock was sold at an average price of $91.93, for a total transaction of $124,105.50. Following the completion of the sale, the insider now directly owns 10,747 shares in the company, valued at approximately $987,971.71. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jeffrey W. Albers sold 25,000 shares of the stock in a transaction dated Thursday, August 19th. The shares were sold at an average price of $92.68, for a total value of $2,317,000.00. The disclosure for this sale can be found here. Insiders sold a total of 27,350 shares of company stock valued at $2,531,346 over the last quarter. 3.34% of the stock is owned by insiders.

Shares of Blueprint Medicines stock opened at $100.03 on Wednesday. Blueprint Medicines Co. has a 1 year low of $71.41 and a 1 year high of $125.61. The company’s fifty day simple moving average is $90.62 and its 200-day simple moving average is $92.33. The company has a market cap of $5.86 billion, a price-to-earnings ratio of 16.53 and a beta of 0.71.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Wednesday, July 28th. The biotechnology company reported ($1.86) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.77) by ($0.09). Blueprint Medicines had a net margin of 41.08% and a return on equity of 24.65%. The company had revenue of $27.30 million for the quarter, compared to the consensus estimate of $28.57 million. On average, analysts anticipate that Blueprint Medicines Co. will post -6.66 earnings per share for the current year.

About Blueprint Medicines

Blueprint Medicines Corp. is a precision therapy company. It focuses on medicines to improve the lives of patients with genomically defined cancers, rare diseases and cancer immunotherapy. The company was founded by Chris Varma, Nicholas B. Lydon, Brian Druker, and Alexis Borisy on October 14, 2008 and is headquartered in Cambridge, MA.

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Institutional Ownership by Quarter for Blueprint Medicines (NASDAQ:BPMC)

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