Blueprint Medicines Co. (NASDAQ:BPMC) Shares Acquired by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD raised its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 15.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,250,823 shares of the biotechnology company’s stock after buying an additional 821,868 shares during the period. Price T Rowe Associates Inc. MD owned approximately 10.21% of Blueprint Medicines worth $592,954,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Blueprint Medicines in the fourth quarter valued at approximately $55,893,000. Vanguard Group Inc. increased its position in shares of Blueprint Medicines by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company’s stock valued at $598,564,000 after purchasing an additional 195,007 shares during the period. Victory Capital Management Inc. increased its position in shares of Blueprint Medicines by 1,906.0% during the 4th quarter. Victory Capital Management Inc. now owns 131,050 shares of the biotechnology company’s stock valued at $12,088,000 after purchasing an additional 124,517 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Blueprint Medicines in the 4th quarter worth $9,768,000. Finally, Trexquant Investment LP acquired a new stake in shares of Blueprint Medicines in the fourth quarter valued at $5,251,000.

Blueprint Medicines Stock Down 1.0 %

Shares of NASDAQ BPMC traded down $1.14 during mid-day trading on Monday, reaching $111.05. The company had a trading volume of 83,409 shares, compared to its average volume of 696,544. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.76 and a quick ratio of 3.61. The stock has a fifty day moving average of $108.61 and a two-hundred day moving average of $96.52. Blueprint Medicines Co. has a 12-month low of $43.89 and a 12-month high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Thursday, May 2nd. The biotechnology company reported ($1.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.64) by $0.32. The company had revenue of $96.12 million during the quarter, compared to the consensus estimate of $82.58 million. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 193.48%. As a group, research analysts forecast that Blueprint Medicines Co. will post -4.67 EPS for the current year.

Insider Buying and Selling

In other Blueprint Medicines news, insider Debra Durso-Bumpus sold 333 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $111.15, for a total value of $37,012.95. Following the transaction, the insider now owns 43,763 shares in the company, valued at $4,864,257.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Blueprint Medicines news, insider Debra Durso-Bumpus sold 333 shares of Blueprint Medicines stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $111.15, for a total value of $37,012.95. Following the completion of the sale, the insider now directly owns 43,763 shares in the company, valued at $4,864,257.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ariel Hurley sold 1,834 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $103.88, for a total transaction of $190,515.92. Following the completion of the sale, the insider now directly owns 14,913 shares of the company’s stock, valued at $1,549,162.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 141,898 shares of company stock worth $14,957,242. Corporate insiders own 4.21% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on BPMC. HC Wainwright boosted their price target on shares of Blueprint Medicines from $125.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Stephens initiated coverage on shares of Blueprint Medicines in a research note on Tuesday, May 14th. They issued an “overweight” rating and a $140.00 price objective on the stock. Barclays increased their target price on shares of Blueprint Medicines from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Wedbush restated an “outperform” rating and issued a $110.00 price target on shares of Blueprint Medicines in a research report on Friday, April 26th. Finally, The Goldman Sachs Group raised their price objective on Blueprint Medicines from $121.00 to $168.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $116.33.

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.