Blueprint Medicines Co. (NASDAQ:BPMC) Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. reduced its position in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 578,780 shares of the biotechnology company's stock after selling 14,988 shares during the period. Brown Advisory Inc. owned 0.91% of Blueprint Medicines worth $50,481,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BPMC. Avoro Capital Advisors LLC purchased a new stake in shares of Blueprint Medicines during the 4th quarter worth approximately $103,356,000. Norges Bank bought a new stake in Blueprint Medicines in the fourth quarter worth $62,028,000. Jennison Associates LLC purchased a new stake in Blueprint Medicines during the fourth quarter valued at $31,417,000. Rock Springs Capital Management LP lifted its position in Blueprint Medicines by 42.7% during the fourth quarter. Rock Springs Capital Management LP now owns 1,096,899 shares of the biotechnology company's stock valued at $95,672,000 after purchasing an additional 328,123 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake 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 worth $373,421,000 after buying an additional 316,754 shares in the last quarter.

Blueprint Medicines Stock Down 1.0 %

NASDAQ BPMC traded down $1.02 during trading on Friday, reaching $97.74. 621,844 shares of the company's stock traded hands, compared to its average volume of 780,742. Blueprint Medicines Co. has a 12-month low of $73.04 and a 12-month high of $121.90. 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 firm has a market cap of $6.31 billion, a price-to-earnings ratio of -90.50 and a beta of 0.83. The company's 50 day simple moving average is $88.49 and its two-hundred day simple moving average is $93.81.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The biotechnology company reported ($0.74) EPS for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.32). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. The business had revenue of $149.41 million during the quarter, compared to the consensus estimate of $158.31 million. During the same period last year, the firm earned $1.40 EPS. The business's quarterly revenue was up 55.5% on a year-over-year basis. As a group, sell-side analysts forecast that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BPMC. Jefferies Financial Group began coverage on shares of Blueprint Medicines in a report on Monday, March 17th. They issued a "buy" rating and a $135.00 price target for the company. Piper Sandler lifted 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. Wolfe Research initiated coverage on Blueprint Medicines in a report on Tuesday, March 18th. They set an "outperform" rating on the stock. Scotiabank began coverage on shares of Blueprint Medicines in a research report on Friday, March 7th. They set a "sector outperform" rating and a $150.00 price objective on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and set a $135.00 price target on shares of Blueprint Medicines in a research note on Friday, May 2nd. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $126.56.

Insider Activity at Blueprint Medicines

In related news, insider Ariel Hurley sold 2,752 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $103.13, for a total transaction of $283,813.76. Following the completion of the sale, the insider now owns 16,944 shares of the company's stock, valued at $1,747,434.72. This represents a 13.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction on Monday, March 24th. The stock was 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 directly owns 69,266 shares in the company, valued at $6,581,655.32. This represents a 3.18 % 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 quarter. 4.21% of the stock is owned by corporate 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.