Vanguard Group Inc. Acquires 37,716 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Vanguard Group Inc. grew its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 0.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,967,143 shares of the biotechnology company’s stock after acquiring an additional 37,716 shares during the quarter. Vanguard Group Inc. owned 9.82% of Blueprint Medicines worth $299,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Blueprint Medicines by 5.5% in the 1st quarter. BlackRock Inc. now owns 6,622,303 shares of the biotechnology company’s stock worth $297,937,000 after acquiring an additional 347,618 shares during the last quarter. Wellington Management Group LLP increased its stake in Blueprint Medicines by 3.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,080,521 shares of the biotechnology company’s stock worth $255,144,000 after acquiring an additional 156,807 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Blueprint Medicines by 15.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,948,434 shares of the biotechnology company’s stock worth $222,631,000 after acquiring an additional 649,144 shares during the last quarter. State Street Corp increased its stake in Blueprint Medicines by 19.8% in the 2nd quarter. State Street Corp now owns 2,716,542 shares of the biotechnology company’s stock worth $137,213,000 after acquiring an additional 449,648 shares during the last quarter. Finally, Rock Springs Capital Management LP increased its stake in Blueprint Medicines by 22.8% in the 3rd quarter. Rock Springs Capital Management LP now owns 2,685,294 shares of the biotechnology company’s stock worth $134,855,000 after acquiring an additional 498,622 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have recently commented on BPMC. Needham & Company LLC reiterated a “buy” rating and issued a $97.00 target price on shares of Blueprint Medicines in a report on Monday, February 26th. JMP Securities reiterated a “market outperform” rating and issued a $114.00 target price on shares of Blueprint Medicines in a report on Friday, February 16th. Wells Fargo & Company lifted their target price on Blueprint Medicines from $86.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, December 19th. Barclays lifted their target price on Blueprint Medicines from $58.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 13th. Finally, Raymond James lifted their target price on Blueprint Medicines from $85.00 to $100.00 and gave the stock a “strong-buy” rating in a report on Friday, December 22nd. Four research analysts have rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Blueprint Medicines currently has a consensus rating of “Hold” and a consensus price target of $85.43.

Blueprint Medicines Price Performance

Shares of BPMC stock opened at $94.79 on Thursday. Blueprint Medicines Co. has a twelve month low of $41.54 and a twelve month high of $101.00. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of -11.34 and a beta of 0.63. The stock has a fifty day simple moving average of $86.06 and a two-hundred day simple moving average of $72.75. The company has a current ratio of 3.76, a quick ratio of 3.66 and a debt-to-equity ratio of 1.60.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, topping the consensus estimate of ($2.04) by $0.22. Blueprint Medicines had a negative return on equity of 191.56% and a negative net margin of 203.30%. The business had revenue of $71.96 million during the quarter, compared to analysts’ expectations of $67.34 million. During the same period in the prior year, the business earned ($2.65) EPS. The business’s revenue for the quarter was up 85.5% compared to the same quarter last year. On average, analysts predict that Blueprint Medicines Co. will post -5.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 25,000 shares of the company’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $81.91, for a total value of $2,047,750.00. Following the completion of the sale, the director now directly owns 176,050 shares in the company, valued at approximately $14,420,255.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Jeffrey W. Albers sold 25,000 shares of the business’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $81.91, for a total value of $2,047,750.00. Following the completion of the transaction, the director now directly owns 176,050 shares of the company’s stock, valued at approximately $14,420,255.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Christopher K. Murray sold 621 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $93.65, for a total value of $58,156.65. Following the completion of the transaction, the insider now directly owns 36,374 shares of the company’s stock, valued at $3,406,425.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 112,289 shares of company stock worth $9,886,913. 3.88% of the stock is currently owned by company insiders.

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.