Frontier Capital Management Co. LLC Buys 84,171 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Frontier Capital Management Co. LLC lifted its stake in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 401.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 105,130 shares of the biotechnology company's stock after purchasing an additional 84,171 shares during the period. Frontier Capital Management Co. LLC owned 0.17% of Blueprint Medicines worth $9,169,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of BPMC. Franklin Resources Inc. lifted its position in shares of Blueprint Medicines by 0.7% in the 3rd quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company's stock worth $3,259,000 after purchasing an additional 265 shares during the period. Empirical Asset Management LLC purchased a new position in Blueprint Medicines during the 4th quarter valued at about $2,348,000. SG Americas Securities LLC lifted its position in Blueprint Medicines by 69.7% during the 4th quarter. SG Americas Securities LLC now owns 4,277 shares of the biotechnology company's stock valued at $373,000 after acquiring an additional 1,756 shares during the period. Fifth Third Bancorp lifted its position in Blueprint Medicines by 207.5% during the 4th quarter. Fifth Third Bancorp now owns 3,075 shares of the biotechnology company's stock valued at $268,000 after acquiring an additional 2,075 shares during the period. Finally, KBC Group NV lifted its position in Blueprint Medicines by 63.9% during the 4th quarter. KBC Group NV now owns 2,625 shares of the biotechnology company's stock valued at $229,000 after acquiring an additional 1,023 shares during the period.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, insider Ariel Hurley sold 3,203 shares of Blueprint Medicines stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.62, for a total transaction of $296,661.86. Following the sale, the insider now directly owns 18,270 shares in the company, valued at $1,692,167.40. The trade was a 14.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $95.02, for a total value of $216,075.48. Following the completion of the transaction, the chief operating officer now owns 69,266 shares of the company's stock, valued at approximately $6,581,655.32. The trade was a 3.18% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,503 shares of company stock worth $1,027,931. 4.21% of the stock is currently owned by company insiders.

Blueprint Medicines Price Performance

Shares of BPMC stock traded down $1.89 during mid-day trading on Wednesday, reaching $97.51. The stock had a trading volume of 420,457 shares, compared to its average volume of 779,914. Blueprint Medicines Co. has a 12-month low of $73.04 and a 12-month high of $121.90. The company has a market cap of $6.30 billion, a P/E ratio of -90.29 and a beta of 0.83. The business has a 50-day simple moving average of $88.91 and a 200 day simple moving average of $94.05. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.32). The company had revenue of $149.41 million for 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 business's quarterly revenue was up 55.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.40 earnings per share. On average, sell-side analysts anticipate that Blueprint Medicines Co. will post -1.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Piper Sandler lifted their price target on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a "neutral" rating in a research report on Monday, January 27th. StockNews.com upgraded shares of Blueprint Medicines from a "sell" rating to a "hold" rating in a research note on Friday, May 2nd. Scotiabank initiated coverage on shares of Blueprint Medicines in a research note on Friday, March 7th. They set a "sector outperform" rating and a $150.00 price objective for the company. Jefferies Financial Group started coverage on shares of Blueprint Medicines in a research note on Monday, March 17th. They set a "buy" rating and a $135.00 price objective for the company. Finally, Needham & Company LLC dropped their price objective on shares of Blueprint Medicines from $133.00 to $130.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $126.56.

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.