T. Rowe Price Investment Management Inc. Sells 51,665 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

T. Rowe Price Investment Management Inc. cut its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 697,027 shares of the biotechnology company's stock after selling 51,665 shares during the period. T. Rowe Price Investment Management Inc. owned about 1.10% of Blueprint Medicines worth $60,795,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake in Blueprint Medicines by 5.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,679,089 shares of the biotechnology company's stock worth $495,331,000 after purchasing an additional 291,822 shares during the period. Diadema Partners LP acquired a new position in shares of Blueprint Medicines in the 4th quarter worth approximately $5,599,000. Avoro Capital Advisors LLC acquired a new stake in Blueprint Medicines in the 4th quarter valued at $103,356,000. Rock Springs Capital Management LP grew its position in Blueprint Medicines by 42.7% in the fourth quarter. Rock Springs Capital Management LP now owns 1,096,899 shares of the biotechnology company's stock valued at $95,672,000 after acquiring an additional 328,123 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in Blueprint Medicines by 903.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,265 shares of the biotechnology company's stock valued at $634,000 after acquiring an additional 6,541 shares during the period.

Blueprint Medicines Stock Performance

Blueprint Medicines stock traded up $8.39 during midday trading on Thursday, reaching $97.89. 819,626 shares of the company's stock were exchanged, compared to its average volume of 772,547. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85. The stock's 50-day simple moving average is $87.29 and its 200 day simple moving average is $93.12. The firm has a market cap of $6.26 billion, a price-to-earnings ratio of -90.36 and a beta of 0.75. Blueprint Medicines Co. has a 52 week low of $73.04 and a 52 week high of $121.90.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its earnings results on Thursday, May 1st. The biotechnology company reported $0.01 earnings per share for the quarter, topping analysts' consensus estimates of ($0.42) by $0.43. Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. The business had revenue of $149.41 million for the quarter, compared to analyst estimates of $158.31 million. During the same period in the previous year, the firm earned $1.40 EPS. The firm's revenue was up 55.5% compared to the same quarter last year. On average, analysts expect that Blueprint Medicines Co. will post -1.28 earnings per share for the current fiscal year.

Insider Transactions at Blueprint Medicines

In related news, insider Ariel Hurley sold 3,203 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.62, for a total value 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. This represents 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, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction dated Monday, March 24th. The stock was 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 of the company's stock, valued at $6,581,655.32. This trade represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. 4.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BPMC. Stephens reiterated an "overweight" rating and set a $140.00 target price on shares of Blueprint Medicines in a research report on Thursday, January 2nd. Wolfe Research started coverage on shares of Blueprint Medicines in a research note on Tuesday, March 18th. They issued an "outperform" rating for the company. Scotiabank initiated coverage on Blueprint Medicines in a research report on Friday, March 7th. They set a "sector outperform" rating and a $150.00 price target on the stock. Wedbush reissued an "outperform" rating and issued a $128.00 price objective on shares of Blueprint Medicines in a research note on Thursday. Finally, Morgan Stanley assumed coverage on shares of Blueprint Medicines in a research note on Thursday, March 20th. They set an "equal weight" rating and a $100.00 price target on the stock. Two investment 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 company's stock. Based on data from MarketBeat.com, Blueprint Medicines currently has a consensus rating of "Moderate Buy" and a consensus target price of $124.53.

Blueprint Medicines Company 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.