Price T Rowe Associates Inc. MD Boosts Stock Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Price T Rowe Associates Inc. MD increased its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,679,089 shares of the biotechnology company's stock after buying an additional 291,822 shares during the quarter. Price T Rowe Associates Inc. MD owned about 8.94% of Blueprint Medicines worth $495,331,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. R Squared Ltd bought a new position in Blueprint Medicines in the fourth quarter valued at approximately $51,000. Headlands Technologies LLC bought a new position in shares of Blueprint Medicines in the 4th quarter valued at $65,000. Thematics Asset Management acquired a new position in shares of Blueprint Medicines during the 4th quarter worth $72,000. Covestor Ltd boosted its stake in Blueprint Medicines by 62.7% in the fourth quarter. Covestor Ltd now owns 973 shares of the biotechnology company's stock valued at $85,000 after buying an additional 375 shares in the last quarter. Finally, Asset Management One Co. Ltd. bought a new position in Blueprint Medicines in the fourth quarter valued at about $88,000.

Insiders Place Their Bets

In other news, COO Christina Rossi sold 2,274 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $95.02, for a total transaction of $216,075.48. Following the completion of the sale, the chief operating officer now owns 69,266 shares in the company, valued at $6,581,655.32. This trade represents a 3.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ariel Hurley sold 3,203 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.62, for a total value of $296,661.86. Following the completion of the transaction, the insider now owns 18,270 shares in the company, valued at approximately $1,692,167.40. The trade was a 14.92 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.21% of the company's stock.

Blueprint Medicines Stock Up 0.4 %

BPMC traded up $0.36 during midday trading on Wednesday, reaching $88.84. 243,792 shares of the company were exchanged, compared to its average volume of 767,875. The company has a market cap of $5.68 billion, a price-to-earnings ratio of -81.99 and a beta of 0.75. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85. Blueprint Medicines Co. has a one year low of $73.04 and a one year high of $121.90. The company's fifty day moving average price is $87.34 and its 200 day moving average price is $93.15.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. As a group, analysts expect that Blueprint Medicines Co. will post -1.28 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BPMC. Wolfe Research assumed coverage on shares of Blueprint Medicines in a research note on Tuesday, March 18th. They issued an "outperform" rating on the stock. StockNews.com downgraded Blueprint Medicines from a "hold" rating to a "sell" rating in a report on Monday, March 3rd. Wedbush reiterated an "outperform" rating and issued a $128.00 target price on shares of Blueprint Medicines in a research report on Wednesday, April 16th. Morgan Stanley started coverage on Blueprint Medicines in a report on Thursday, March 20th. They set an "equal weight" rating and a $100.00 price target on the stock. Finally, Jefferies Financial Group began coverage on shares of Blueprint Medicines in a research report on Monday, March 17th. They set a "buy" rating and a $135.00 target price on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $124.53.

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.