Rhumbline Advisers Acquires 5,402 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Rhumbline Advisers boosted its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 6.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,933 shares of the biotechnology company's stock after purchasing an additional 5,402 shares during the period. Rhumbline Advisers owned about 0.14% of Blueprint Medicines worth $8,137,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BPMC. Avoro Capital Advisors LLC bought a new stake in shares of Blueprint Medicines in the 4th quarter worth approximately $103,356,000. Norges Bank bought a new stake in Blueprint Medicines in the fourth quarter valued at $62,028,000. Rock Springs Capital Management LP boosted its holdings in Blueprint Medicines by 42.7% in 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 acquiring an additional 328,123 shares in the last quarter. Wellington Management Group LLP increased its position in Blueprint Medicines by 8.0% during 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 during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in 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 worth $495,331,000 after purchasing an additional 291,822 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. JMP Securities restated a "market perform" rating on shares of Blueprint Medicines in a report on Tuesday, June 3rd. HC Wainwright reissued a "buy" rating and issued a $135.00 target price on shares of Blueprint Medicines in a research report on Friday, May 2nd. UBS Group raised their target price on Blueprint Medicines from $88.00 to $129.00 and gave the company a "neutral" rating in a research note on Thursday, June 5th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $129.00 price target (down from $130.00) on shares of Blueprint Medicines in a research note on Monday, June 2nd. Finally, Scotiabank downgraded Blueprint Medicines from a "strong-buy" rating to a "sector perform" rating and set a $135.00 price objective for the company. in a report on Monday, June 2nd. Seventeen equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $129.35.

Blueprint Medicines Stock Down 0.2%

Shares of NASDAQ:BPMC traded down $0.25 during trading on Friday, reaching $127.96. 4,708,110 shares of the stock traded hands, compared to its average volume of 1,196,118. The stock has a market cap of $8.26 billion, a P/E ratio of -118.48 and a beta of 0.84. 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 stock has a 50-day moving average of $99.05 and a two-hundred day moving average of $96.79. Blueprint Medicines Co. has a 52-week low of $73.04 and a 52-week high of $128.50.

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

Insider Activity

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $95.02, for a total transaction of $216,075.48. Following the transaction, the chief operating officer now owns 69,266 shares in the company, valued at approximately $6,581,655.32. This represents a 3.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey W. Albers sold 5,000 shares of Blueprint Medicines stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $101.14, for a total transaction of $505,700.00. Following the completion of the sale, the director now owns 146,630 shares of the company's stock, valued at $14,830,158.20. This represents a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,574 shares of company stock valued at $1,465,528 over the last ninety days. 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.