Casdin Capital buys $8,384,400 stake in Blueprint Medicines Corp (BPMC)

Blueprint Medicines Corp (BPMC) : Casdin Capital scooped up 18,700 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 15, 2016. The investment management firm now holds a total of 340,000 shares of Blueprint Medicines Corp which is valued at $8,384,400.Blueprint Medicines Corp makes up approximately 7.35% of Casdin Capital’s portfolio.

Other Hedge Funds, Including , Manufacturers Life Insurance Company The boosted its stake in BPMC in the latest quarter, The investment management firm added 259 additional shares and now holds a total of 7,212 shares of Blueprint Medicines Corp which is valued at $177,848.Geode Capital Management boosted its stake in BPMC in the latest quarter, The investment management firm added 24,568 additional shares and now holds a total of 96,381 shares of Blueprint Medicines Corp which is valued at $2,376,755. Norges Bank sold out all of its stake in BPMC during the most recent quarter. The investment firm sold 20,000 shares of BPMC which is valued $493,200.Rs Investment Management Co reduced its stake in BPMC by selling 9,521 shares or 1.21% in the most recent quarter. The Hedge Fund company now holds 777,880 shares of BPMC which is valued at $16,918,890. Blueprint Medicines Corp makes up approx 0.17% of Rs Investment Management Co’s portfolio.

Blueprint Medicines Corp closed down -0.26 points or -0.93% at $27.62 with 1,49,716 shares getting traded on Thursday. Post opening the session at $27.81, the shares hit an intraday low of $27.51 and an intraday high of $28.28 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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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