NBC Securities Inc. Boosts Stake in Blueprint Medicines Co. (NASDAQ:BPMC)

NBC Securities Inc. raised its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 132,300.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,648 shares of the biotechnology company's stock after purchasing an additional 2,646 shares during the period. NBC Securities Inc.'s holdings in Blueprint Medicines were worth $234,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in shares of Blueprint Medicines during the fourth quarter worth $65,000. Thematics Asset Management acquired a new position in shares of Blueprint Medicines during the fourth quarter worth $72,000. Covestor Ltd increased its holdings in shares of Blueprint Medicines by 62.7% during the fourth quarter. Covestor Ltd now owns 973 shares of the biotechnology company's stock worth $85,000 after buying an additional 375 shares in the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of Blueprint Medicines during the fourth quarter worth $88,000. Finally, Van ECK Associates Corp increased its holdings in shares of Blueprint Medicines by 48.2% during the fourth quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company's stock worth $97,000 after buying an additional 363 shares in the last quarter.

Blueprint Medicines Stock Down 0.0%

Shares of BPMC stock traded down $0.02 on Wednesday, reaching $127.95. 3,826,825 shares of the company were exchanged, compared to its average volume of 1,166,122. The company has a market cap of $8.26 billion, a price-to-earnings ratio of -118.47 and a beta of 0.84. The company has a 50-day moving average of $98.09 and a 200-day moving average of $96.55. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80. Blueprint Medicines Co. has a one year low of $73.04 and a one year high of $128.34.

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 analysts' consensus estimates of ($0.42) by ($0.32). The company had revenue of $149.41 million for the quarter, compared to the consensus estimate of $158.31 million. Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. Blueprint Medicines's revenue for the quarter was up 55.5% compared to the same quarter last year. During the same period last year, the company earned $1.40 EPS. Analysts anticipate that Blueprint Medicines Co. will post -1.28 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on BPMC. Wedbush downgraded shares of Blueprint Medicines from an "outperform" rating to a "neutral" rating and upped their price target for the stock from $128.00 to $129.00 in a report on Monday, June 2nd. HC Wainwright restated a "buy" rating and issued a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, May 2nd. Morgan Stanley increased their price objective on Blueprint Medicines from $102.00 to $129.00 and gave the company an "equal weight" rating in a report on Thursday, June 5th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $129.00 price objective (down from $130.00) on shares of Blueprint Medicines in a report on Monday, June 2nd. Finally, Wall Street Zen upgraded Blueprint Medicines from a "sell" rating to a "hold" rating in a report on Friday, May 2nd. Seventeen investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $129.35.

Insider Activity at Blueprint Medicines

In related news, COO Christina Rossi sold 2,274 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $95.02, for a total value of $216,075.48. Following the transaction, the chief operating officer now owns 69,266 shares of the company's stock, valued at approximately $6,581,655.32. This trade represents a 3.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey W. Albers sold 5,000 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $101.14, for a total transaction of $505,700.00. Following the completion of the transaction, the director now directly owns 146,630 shares in the company, valued at approximately $14,830,158.20. The trade was a 3.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,574 shares of company stock valued at $1,465,528. 4.21% of the stock is 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.