UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 12,035 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 5.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 239,946 shares of the biotechnology company's stock after purchasing an additional 12,035 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.38% of Blueprint Medicines worth $20,928,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BPMC. Avoro Capital Advisors LLC acquired a new position in Blueprint Medicines during the 4th quarter worth $103,356,000. Norges Bank acquired a new stake in shares of Blueprint Medicines during the fourth quarter worth $62,028,000. Jennison Associates LLC acquired a new stake in shares of Blueprint Medicines during the fourth quarter worth $31,417,000. Rock Springs Capital Management LP raised its position in shares of 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 purchasing an additional 328,123 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of 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 purchasing an additional 316,754 shares during the period.

Wall Street Analysts Forecast Growth

BPMC has been the topic of several recent analyst reports. Morgan Stanley initiated coverage on Blueprint Medicines in a research report on Thursday, March 20th. They set an "equal weight" rating and a $100.00 price target on the stock. Needham & Company LLC lowered their price objective on Blueprint Medicines from $133.00 to $130.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Wall Street Zen raised shares of Blueprint Medicines from a "sell" rating to a "hold" rating in a research report on Friday, May 2nd. JMP Securities restated a "market outperform" rating and set a $125.00 target price on shares of Blueprint Medicines in a research note on Friday, February 14th. Finally, Wolfe Research started coverage on Blueprint Medicines in a research note on Tuesday, March 18th. They set an "outperform" rating for the company. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $126.56.

Insider Activity

In other Blueprint Medicines news, insider Ariel Hurley sold 3,203 shares of Blueprint Medicines stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.62, for a total transaction of $296,661.86. Following the transaction, the insider now directly owns 18,270 shares in the company, valued at approximately $1,692,167.40. The trade was a 14.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeffrey W. Albers sold 5,000 shares of Blueprint Medicines stock in a transaction dated 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 now owns 146,630 shares in the company, valued at approximately $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. In the last ninety days, insiders sold 17,777 shares of company stock valued at $1,762,190. Company insiders own 4.21% of the company's stock.

Blueprint Medicines Price Performance

BPMC stock traded down $1.91 during midday trading on Friday, reaching $101.15. 901,724 shares of the company's stock traded hands, compared to its average volume of 788,426. The company has a 50-day simple moving average of $91.67 and a two-hundred day simple moving average of $94.68. Blueprint Medicines Co. has a 1-year low of $73.04 and a 1-year high of $121.90. The company has a market cap of $6.53 billion, a price-to-earnings ratio of -93.66 and a beta of 0.83. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last released its quarterly 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 net margin of 13.19% and a negative return on equity of 77.49%. The company's revenue for the quarter was up 55.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.40 earnings per share. On average, analysts anticipate that Blueprint Medicines Co. will post -1.28 earnings per share for the current year.

Blueprint Medicines 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.