Blueprint Medicines Corp (NASDAQ:BPMC) was the recipient of unusually large options trading activity on Monday. Stock investors bought 3,087 call options on the stock. This is an increase of approximately 957% compared to the average daily volume of 292 call options.

In related news, CEO Jeffrey W. Albers sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $86.39, for a total transaction of $1,727,800.00. Following the completion of the transaction, the chief executive officer now owns 48,961 shares of the company’s stock, valued at $4,229,740.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ariel Hurley sold 415 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $85.55, for a total transaction of $35,503.25. Following the transaction, the insider now directly owns 415 shares of the company’s stock, valued at approximately $35,503.25. The disclosure for this sale can be found here. Corporate insiders own 3.15% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. First Republic Investment Management Inc. boosted its stake in shares of Blueprint Medicines by 53.3% in the first quarter. First Republic Investment Management Inc. now owns 6,092 shares of the biotechnology company’s stock valued at $488,000 after purchasing an additional 2,119 shares during the period. TD Asset Management Inc. boosted its stake in shares of Blueprint Medicines by 2.4% in the fourth quarter. TD Asset Management Inc. now owns 63,025 shares of the biotechnology company’s stock valued at $3,398,000 after purchasing an additional 1,500 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of Blueprint Medicines by 2.5% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 24,671 shares of the biotechnology company’s stock valued at $1,330,000 after purchasing an additional 595 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in shares of Blueprint Medicines by 354.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 13,476 shares of the biotechnology company’s stock valued at $726,000 after purchasing an additional 10,511 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of Blueprint Medicines by 46.1% in the fourth quarter. Rhumbline Advisers now owns 55,349 shares of the biotechnology company’s stock valued at $2,984,000 after purchasing an additional 17,475 shares during the period. Institutional investors and hedge funds own 97.46% of the company’s stock.

BPMC opened at $78.51 on Wednesday. The company has a quick ratio of 6.59, a current ratio of 6.59 and a debt-to-equity ratio of 0.27. Blueprint Medicines has a 52-week low of $44.58 and a 52-week high of $89.00. The company has a market cap of $3.71 billion, a price-to-earnings ratio of -14.57 and a beta of 1.44.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($1.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.83) by ($0.15). Blueprint Medicines had a negative return on equity of 59.26% and a negative net margin of 603.88%. The business had revenue of $0.73 million for the quarter, compared to analysts’ expectations of $1.38 million. During the same quarter in the prior year, the firm earned ($1.29) earnings per share. Blueprint Medicines’s quarterly revenue was down 23.2% compared to the same quarter last year. On average, research analysts predict that Blueprint Medicines will post -7.76 earnings per share for the current fiscal year.

Several equities research analysts have issued reports on BPMC shares. ValuEngine upgraded shares of Blueprint Medicines from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 10th. Morgan Stanley started coverage on shares of Blueprint Medicines in a research note on Wednesday, April 3rd. They set an “overweight” rating and a $112.00 price objective for the company. BidaskClub downgraded shares of Blueprint Medicines from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 6th. Wedbush reiterated an “outperform” rating on shares of Blueprint Medicines in a research note on Tuesday, February 26th. Finally, Cowen reiterated a “buy” rating on shares of Blueprint Medicines in a research note on Tuesday, February 26th. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $105.83.

ILLEGAL ACTIVITY NOTICE: This story was originally posted by Watch List News and is owned by of Watch List News. If you are viewing this story on another domain, it was copied illegally and republished in violation of U.S. & international copyright & trademark legislation. The original version of this story can be viewed at https://www.watchlistnews.com/traders-buy-large-volume-of-call-options-on-blueprint-medicines-bpmc/3031676.html.

About Blueprint Medicines

Blueprint Medicines Corporation develops drugs of small molecule kinase inhibitors that target genomic drivers in various cancers and a rare genetic disease. Its lead drug candidates include avapritinib, which completed Phase I clinical trials that targets PDGFRA Exon 18 mutant GIST and KIT-driven GIST; and BLU-554, which is in Phase I clinical trials an orally available, potent, and irreversible inhibitor of the kinase FGFR4 that is activated in a defined subset of patients with hepatocellular carcinoma.

Featured Story: What is a Call Option?

Receive News & Ratings for Blueprint Medicines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blueprint Medicines and related companies with MarketBeat.com's FREE daily email newsletter.