Moody Aldrich Partners LLC Takes Position in Blueprint Medicines Corporation (NASDAQ:BPMC)

Moody Aldrich Partners LLC acquired a new position in Blueprint Medicines Corporation (NASDAQ:BPMC - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 22,331 shares of the biotechnology company's stock, valued at approximately $1,977,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Avoro Capital Advisors LLC bought a new position in Blueprint Medicines during the fourth quarter worth about $103,356,000. Norges Bank bought a new position in Blueprint Medicines during the fourth quarter worth about $62,028,000. Rock Springs Capital Management LP boosted its holdings 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 worth $95,672,000 after buying an additional 328,123 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Blueprint Medicines by 8.0% during the fourth 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 last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Blueprint Medicines by 5.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,679,089 shares of the biotechnology company's stock worth $495,331,000 after buying an additional 291,822 shares during the last quarter.

Blueprint Medicines Stock Performance

Shares of BPMC stock traded up $0.05 during trading on Monday, reaching $128.40. 1,937,572 shares of the company's stock were exchanged, compared to its average volume of 1,330,486. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $8.29 billion, a PE ratio of -51.98 and a beta of 0.89. Blueprint Medicines Corporation has a twelve month low of $73.04 and a twelve month high of $128.58. The firm's fifty day moving average price is $113.55 and its 200-day moving average price is $100.56.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.32). The business had revenue of $149.41 million for the quarter, compared to analyst estimates of $158.31 million. Blueprint Medicines had a negative return on equity of 64.60% and a negative net margin of 27.70%. The firm's revenue was up 55.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.40 earnings per share. As a group, sell-side analysts anticipate that Blueprint Medicines Corporation will post -1.28 EPS for the current year.

Insider Buying and Selling

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 5,000 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $101.14, for a total value of $505,700.00. Following the transaction, the director directly owned 146,630 shares of the company's stock, valued at $14,830,158.20. This represents a 3.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ariel Hurley sold 2,752 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $103.13, for a total value of $283,813.76. Following the completion of the transaction, the insider directly owned 16,944 shares in the company, valued at approximately $1,747,434.72. This represents a 13.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,300 shares of company stock valued at $1,249,453. 4.21% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. UBS Group raised their target price on Blueprint Medicines from $88.00 to $129.00 and gave the stock a "neutral" rating in a report on Thursday, June 5th. Citizens Jmp cut Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 3rd. Wedbush cut Blueprint Medicines from an "outperform" rating to a "neutral" rating and lifted their price objective for the company from $128.00 to $129.00 in a report on Monday, June 2nd. Wolfe Research cut Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 3rd. Finally, Cowen cut Blueprint Medicines to a "hold" rating in a report on Monday, June 2nd. Eighteen analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Blueprint Medicines currently has a consensus rating of "Hold" and a consensus price target of $128.06.

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.