Federated Hermes Inc. Buys Shares of 24,043 Blueprint Medicines Co. (NASDAQ:BPMC)

Federated Hermes Inc. purchased a new stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 24,043 shares of the biotechnology company's stock, valued at approximately $2,218,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. SG Americas Securities LLC raised its position in Blueprint Medicines by 1,436.4% in the third quarter. SG Americas Securities LLC now owns 33,478 shares of the biotechnology company's stock worth $1,681,000 after acquiring an additional 31,299 shares during the period. Peregrine Capital Management LLC raised its stake in shares of Blueprint Medicines by 2.1% in the third quarter. Peregrine Capital Management LLC now owns 146,663 shares of the biotechnology company's stock worth $7,365,000 after buying an additional 3,074 shares during the period. Harbor Capital Advisors Inc. lifted its position in shares of Blueprint Medicines by 33.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 32,484 shares of the biotechnology company's stock valued at $1,631,000 after buying an additional 8,131 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Blueprint Medicines by 1.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 266,744 shares of the biotechnology company's stock valued at $13,396,000 after acquiring an additional 4,127 shares during the period. Finally, Brown Advisory Inc. increased its holdings in Blueprint Medicines by 0.9% in the 3rd quarter. Brown Advisory Inc. now owns 641,039 shares of the biotechnology company's stock worth $32,193,000 after acquiring an additional 5,843 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts have recently commented on BPMC shares. HC Wainwright restated a "buy" rating and set a $125.00 price objective on shares of Blueprint Medicines in a research report on Friday. Needham & Company LLC reaffirmed a "buy" rating and issued a $97.00 price objective on shares of Blueprint Medicines in a research note on Friday. Citigroup lifted their target price on Blueprint Medicines from $54.00 to $65.00 and gave the company a "sell" rating in a research note on Friday, February 16th. JMP Securities reiterated a "market outperform" rating and set a $114.00 price objective on shares of Blueprint Medicines in a research report on Wednesday, April 10th. Finally, Wedbush reaffirmed an "outperform" rating and set a $110.00 target price on shares of Blueprint Medicines in a research note on Friday. Four research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $91.57.

Blueprint Medicines Trading Up 0.1 %

Shares of BPMC traded up $0.10 during mid-day trading on Monday, reaching $93.10. 622,933 shares of the company's stock traded hands, compared to its average volume of 762,213. The company has a debt-to-equity ratio of 1.60, a current ratio of 3.76 and a quick ratio of 3.66. The stock's 50-day moving average is $90.85 and its two-hundred day moving average is $79.52. Blueprint Medicines Co. has a 12 month low of $43.89 and a 12 month high of $101.00. The stock has a market cap of $5.70 billion, a P/E ratio of -11.14 and a beta of 0.63.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.82) EPS for the quarter, beating the consensus estimate of ($2.04) by $0.22. The company had revenue of $71.96 million for the quarter, compared to the consensus estimate of $67.34 million. Blueprint Medicines had a negative return on equity of 191.56% and a negative net margin of 203.30%. Blueprint Medicines's quarterly revenue was up 85.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($2.65) EPS. Research analysts forecast that Blueprint Medicines Co. will post -5.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Blueprint Medicines news, CFO Michael Landsittel sold 5,000 shares of the company's stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $95.00, for a total value of $475,000.00. Following the transaction, the chief financial officer now directly owns 47,286 shares in the company, valued at approximately $4,492,170. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Blueprint Medicines news, Director Jeffrey W. Albers sold 25,073 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $87.28, for a total transaction of $2,188,371.44. Following the transaction, the director now directly owns 176,050 shares in the company, valued at approximately $15,365,644. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Landsittel sold 5,000 shares of the business's stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $95.00, for a total transaction of $475,000.00. Following the completion of the sale, the chief financial officer now owns 47,286 shares of the company's stock, valued at approximately $4,492,170. The disclosure for this sale can be found here. Insiders have sold 92,289 shares of company stock valued at $8,314,163 in the last 90 days. Company insiders own 3.88% of the company's stock.

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.