Barclays PLC Increases Stake in Blueprint Medicines Co. (NASDAQ:BPMC)

Barclays PLC grew its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 10.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 189,127 shares of the biotechnology company's stock after purchasing an additional 17,931 shares during the period. Barclays PLC owned approximately 0.30% of Blueprint Medicines worth $16,494,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Norges Bank acquired a new stake in Blueprint Medicines during the 4th quarter worth about $62,028,000. Jennison Associates LLC purchased a new stake in Blueprint Medicines in the fourth quarter valued at approximately $31,417,000. Wellington Management Group LLP increased its holdings in 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 worth $373,421,000 after buying an additional 316,754 shares during the period. William Blair Investment Management LLC lifted its stake in Blueprint Medicines by 16.1% during 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 acquiring an additional 269,896 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Blueprint Medicines in the 4th quarter valued at $21,104,000.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BPMC shares. JMP Securities restated a "market outperform" rating and set a $125.00 target price on shares of Blueprint Medicines in a research report on Friday, February 14th. Piper Sandler raised their target price on Blueprint Medicines from $109.00 to $119.00 and gave the stock a "neutral" rating in a report on Monday, January 27th. StockNews.com lowered Blueprint Medicines from a "hold" rating to a "sell" rating in a research report on Monday, March 3rd. Morgan Stanley started coverage on shares of Blueprint Medicines in a report on Thursday, March 20th. They set an "equal weight" rating and a $100.00 target price for the company. Finally, Scotiabank started coverage on shares of Blueprint Medicines in a report on Friday, March 7th. They set a "sector outperform" rating and a $150.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $124.95.

Blueprint Medicines Trading Down 0.1 %

Shares of NASDAQ BPMC traded down $0.11 during mid-day trading on Friday, reaching $85.98. 131,074 shares of the company's stock were exchanged, compared to its average volume of 767,674. The company's 50-day moving average is $87.67 and its 200-day moving average is $93.10. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of -79.59 and a beta of 0.75. Blueprint Medicines Co. has a 52-week low of $73.04 and a 52-week high of $121.90.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.11). Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. Analysts expect that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Ariel Hurley sold 3,203 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.62, for a total transaction of $296,661.86. Following the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $95.02, for a total transaction of $216,075.48. Following the completion of the transaction, the chief operating officer now owns 69,266 shares of the company's stock, valued at $6,581,655.32. This trade represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. 4.21% of the stock is owned by insiders.

Blueprint Medicines Company Profile

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.