Blueprint Medicines Co. (NASDAQ:BPMC) Shares Acquired by Comerica Bank

Comerica Bank grew its stake in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 411.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,115 shares of the biotechnology company's stock after purchasing an additional 10,551 shares during the period. Comerica Bank's holdings in Blueprint Medicines were worth $1,144,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BPMC. Vanguard Group Inc. grew its holdings in Blueprint Medicines by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 6,774,884 shares of the biotechnology company's stock worth $590,905,000 after acquiring an additional 91,450 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Blueprint Medicines by 5.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,679,089 shares of the biotechnology company's stock worth $495,331,000 after acquiring an additional 291,822 shares during the period. Wellington Management Group LLP grew its holdings in shares of Blueprint Medicines by 8.0% in the fourth 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 during the period. William Blair Investment Management LLC raised its stake in Blueprint Medicines by 16.1% during the fourth quarter. William Blair Investment Management LLC now owns 1,944,695 shares of the biotechnology company's stock worth $169,616,000 after purchasing an additional 269,896 shares during the period. Finally, Geode Capital Management LLC grew its stake 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 buying an additional 9,914 shares during the period.

Blueprint Medicines Trading Down 0.9%

BPMC traded down $0.91 during trading on Tuesday, hitting $99.40. The company's stock had a trading volume of 595,632 shares, compared to its average volume of 781,337. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80. The stock has a market cap of $6.42 billion, a PE ratio of -92.04 and a beta of 0.83. The firm's 50 day moving average price is $88.91 and its 200-day moving average price is $94.05. Blueprint Medicines Co. has a twelve month low of $73.04 and a twelve month high of $121.90.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last released its earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.32). The company had revenue of $149.41 million during the quarter, compared to analysts' expectations of $158.31 million. Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. Blueprint Medicines's revenue for the quarter was up 55.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.40 earnings per share. On average, analysts expect that Blueprint Medicines Co. will post -1.28 earnings per share for the current year.

Insider Buying and Selling at Blueprint Medicines

In related news, insider Ariel Hurley sold 3,203 shares of the 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 owns 18,270 shares of the company's stock, valued at approximately $1,692,167.40. This represents a 14.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $101.75, for a total value of $231,379.50. Following the sale, the chief operating officer now owns 66,992 shares in the company, valued at $6,816,436. This represents a 3.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,503 shares of company stock valued at $1,027,931 over the last ninety days. Corporate insiders own 4.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BPMC. HC Wainwright reaffirmed a "buy" rating and set a $135.00 price objective on shares of Blueprint Medicines in a research report on Friday, May 2nd. JPMorgan Chase & Co. boosted their target price on Blueprint Medicines from $126.00 to $129.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Wedbush reissued an "outperform" rating and issued a $128.00 target price on shares of Blueprint Medicines in a report on Thursday, May 1st. Wolfe Research began coverage on Blueprint Medicines in a research report on Tuesday, March 18th. They set an "outperform" rating for the company. Finally, JMP Securities reissued a "market outperform" rating and set a $125.00 price target on shares of Blueprint Medicines in a report on Friday, February 14th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $126.56.

About Blueprint Medicines

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.