Ameriprise Financial Inc. boosted its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 4.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 338,115 shares of the biotechnology company's stock after acquiring an additional 13,501 shares during the period. Ameriprise Financial Inc. owned 0.53% of Blueprint Medicines worth $29,489,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Blueprint Medicines by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 6,774,884 shares of the biotechnology company's stock valued at $590,905,000 after purchasing an additional 91,450 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Blueprint Medicines by 5.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,679,089 shares of the biotechnology company's stock valued at $495,331,000 after purchasing an additional 291,822 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Blueprint Medicines by 8.0% in the 4th quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company's stock valued at $373,421,000 after purchasing an additional 316,754 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Blueprint Medicines by 16.1% in the 4th quarter. William Blair Investment Management LLC now owns 1,944,695 shares of the biotechnology company's stock valued at $169,616,000 after purchasing an additional 269,896 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Blueprint Medicines by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,490,101 shares of the biotechnology company's stock valued at $129,996,000 after purchasing an additional 9,914 shares in the last quarter.
Insiders Place Their Bets
In other news, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $95.02, for a total value of $216,075.48. Following the completion of the transaction, the chief operating officer now directly owns 69,266 shares of the company's stock, valued at approximately $6,581,655.32. This trade represents a 3.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ariel Hurley sold 3,203 shares of Blueprint Medicines stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.62, for a total value of $296,661.86. Following the completion of the transaction, the insider now directly owns 18,270 shares of the company's stock, valued at approximately $1,692,167.40. This trade represents a 14.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,503 shares of company stock valued at $1,027,931. 4.21% of the stock is currently owned by company insiders.
Blueprint Medicines Trading Down 0.5%
BPMC traded down $0.48 during midday trading on Monday, hitting $101.21. 398,264 shares of the company were exchanged, compared to its average volume of 780,081. The firm has a market capitalization of $6.54 billion, a P/E ratio of -93.71 and a beta of 0.83. Blueprint Medicines Co. has a 1-year low of $73.04 and a 1-year high of $121.90. The firm's 50 day moving average price is $89.87 and its 200-day moving average price is $94.47. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15.
Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.32). The company had revenue of $149.41 million for the quarter, compared to analyst estimates of $158.31 million. Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. The firm's quarterly revenue was up 55.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.40 earnings per share. As a group, equities analysts forecast that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.
Analyst Ratings Changes
BPMC has been the topic of a number of research analyst reports. HC Wainwright reaffirmed a "buy" rating and issued a $135.00 target price on shares of Blueprint Medicines in a report on Friday, May 2nd. Wolfe Research initiated coverage on Blueprint Medicines in a report on Tuesday, March 18th. They issued an "outperform" rating on the stock. Piper Sandler raised their target price on Blueprint Medicines from $109.00 to $119.00 and gave the company a "neutral" rating in a report on Monday, January 27th. Needham & Company LLC cut their price objective on Blueprint Medicines from $133.00 to $130.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Finally, Scotiabank started coverage on Blueprint Medicines in a report on Friday, March 7th. They set a "sector outperform" rating and a $150.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Blueprint Medicines currently has an average rating of "Moderate Buy" and an average target price of $126.56.
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Blueprint Medicines Profile
(
Free Report)
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.
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