Brown Advisory Inc. Decreases Stock Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

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

Other large investors also recently bought and sold shares of the company. R Squared Ltd bought a new position in Blueprint Medicines during the fourth quarter valued at $51,000. Headlands Technologies LLC purchased a new position in Blueprint Medicines in the fourth quarter worth about $65,000. Thematics Asset Management bought a new stake in Blueprint Medicines during the fourth quarter worth approximately $72,000. Covestor Ltd raised its position in Blueprint Medicines by 62.7% during the fourth quarter. Covestor Ltd now owns 973 shares of the biotechnology company's stock valued at $85,000 after purchasing an additional 375 shares during the period. Finally, Asset Management One Co. Ltd. bought a new stake in shares of Blueprint Medicines in the 4th quarter valued at approximately $88,000.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Jefferies Financial Group started coverage on Blueprint Medicines in a report on Monday, March 17th. They set a "buy" rating and a $135.00 price target on the stock. Piper Sandler raised their target price on shares of Blueprint Medicines from $109.00 to $119.00 and gave the stock a "neutral" rating in a report on Monday, January 27th. Morgan Stanley assumed coverage on shares of Blueprint Medicines in a research note on Thursday, March 20th. They set an "equal weight" rating and a $100.00 price target for the company. Wedbush reissued an "outperform" rating and issued a $128.00 price objective on shares of Blueprint Medicines in a research note on Thursday. Finally, Scotiabank assumed coverage on Blueprint Medicines in a research note on Friday, March 7th. They set a "sector outperform" rating and a $150.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Blueprint Medicines has a consensus rating of "Moderate Buy" and an average price target of $127.22.

Blueprint Medicines Price Performance

NASDAQ BPMC opened at $104.64 on Monday. The company has a market cap of $6.69 billion, a PE ratio of -96.89 and a beta of 0.83. Blueprint Medicines Co. has a 52-week low of $73.04 and a 52-week high of $121.90. 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's 50 day moving average price is $87.69 and its 200-day moving average price is $93.38.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its quarterly 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%. The company's revenue was up 55.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.40 earnings per share. Sell-side analysts forecast that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Christina Rossi sold 2,274 shares of the business's 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 transaction, the chief operating officer now directly owns 69,266 shares in the company, valued at $6,581,655.32. The trade was a 3.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $296,661.86. Following the completion of the sale, the insider now 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. 4.21% of the stock is currently owned by corporate insiders.

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.

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