Opaleye Management buys $6,165,000 stake in Blueprint Medicines Corp (BPMC)

Blueprint Medicines Corp (BPMC) : Opaleye Management scooped up 30,000 additional shares in Blueprint Medicines Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 250,000 shares of Blueprint Medicines Corp which is valued at $6,165,000.Blueprint Medicines Corp makes up approximately 3.53% of Opaleye Management’s portfolio.

Other Hedge Funds, Including , Spark Investment Management boosted its stake in BPMC in the latest quarter, The investment management firm added 58,800 additional shares and now holds a total of 144,500 shares of Blueprint Medicines Corp which is valued at $3,563,370. Blueprint Medicines Corp makes up approx 0.31% of Spark Investment Management’s portfolio.Fmr boosted its stake in BPMC in the latest quarter, The investment management firm added 15,615 additional shares and now holds a total of 4,085,600 shares of Blueprint Medicines Corp which is valued at $100,750,896. Blueprint Medicines Corp makes up approx 0.01% of Fmr’s portfolio.Teachers Advisors Inc boosted its stake in BPMC in the latest quarter, The investment management firm added 18,413 additional shares and now holds a total of 32,051 shares of Blueprint Medicines Corp which is valued at $790,378.Vanguard Group Inc boosted its stake in BPMC in the latest quarter, The investment management firm added 39,253 additional shares and now holds a total of 566,995 shares of Blueprint Medicines Corp which is valued at $13,982,097.Blackrock Investment Management boosted its stake in BPMC in the latest quarter, The investment management firm added 43,834 additional shares and now holds a total of 77,036 shares of Blueprint Medicines Corp which is valued at $1,899,708.

Blueprint Medicines Corp opened for trading at $28.13 and hit $28.24 on the upside on Monday, eventually ending the session at $28.04, with a gain of 0.29% or 0.08 points. The heightened volatility saw the trading volume jump to 1,25,647 shares. Company has a market cap of $765 M.

On the company’s financial health, Blueprint Medicines Corp reported $-0.70 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $-0.73. The company had revenue of $7.10 million for the quarter, compared to analysts expectations of $4.68 million. The company’s revenue was up 163.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.81 EPS.

Many Wall Street Analysts have commented on Blueprint Medicines Corp. Raymond James Initiated Blueprint Medicines Corp on May 27, 2016 to “Outperform”, Price Target of the shares are set at $23.

Blueprint Medicines Corporation (Blueprint) is a biopharmaceutical company. The Company is focused on improving the lives of patients with genomically defined diseases driven by abnormal kinase activation. The Company developed a molecule drug pipeline in cancer and a genetic disease. Its lead drug candidate BLU-285 targets KIT Exon 17 and PDGFRa D842V active receptor tyrosine kinase mutants that are drivers of cancer and proliferative disorders. The Company’s BLU-285 is developed for patients with systemic mastocytosis (SM) and defined subsets of patients with gastrointestinal stromal tumor (GIST). The Company’s Imatinib which is an inhibitor of KIT and PDGFRa is approved in SM and GIST. The Company’s other drug candidate is BLU-554 which targets FGFR4 a kinase that is activated and is a driver of disease in a defined subset of patients with hepatocellular carcinoma. The Company is also developing a drug candidate to target both RET and RET resistant mutants.

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