Ameriprise Financial Inc. Purchases 13,501 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Ameriprise Financial Inc. raised its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 4.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 338,115 shares of the biotechnology company’s stock after acquiring an additional 13,501 shares during the period. Ameriprise Financial Inc. owned about 0.53% of Blueprint Medicines worth $29,489,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Algert Global LLC raised its stake in shares of Blueprint Medicines by 21.6% in the fourth quarter. Algert Global LLC now owns 112,172 shares of the biotechnology company’s stock valued at $9,784,000 after purchasing an additional 19,936 shares in the last quarter. Alkeon Capital Management LLC increased its holdings in Blueprint Medicines by 11.4% in the 4th quarter. Alkeon Capital Management LLC now owns 800,628 shares of the biotechnology company’s stock valued at $69,831,000 after buying an additional 81,700 shares during the period. Comerica Bank raised its stake in shares of Blueprint Medicines by 411.5% in the 4th quarter. Comerica Bank now owns 13,115 shares of the biotechnology company’s stock valued at $1,144,000 after buying an additional 10,551 shares in the last quarter. PDT Partners LLC bought a new position in shares of Blueprint Medicines during the 4th quarter worth about $270,000. Finally, AQR Capital Management LLC boosted its position in shares of Blueprint Medicines by 26.9% during the 4th quarter. AQR Capital Management LLC now owns 144,693 shares of the biotechnology company’s stock valued at $12,620,000 after acquiring an additional 30,635 shares in the last quarter.

Insider Buying and Selling at Blueprint Medicines

In other news, COO Christina Rossi sold 2,274 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $95.02, for a total transaction of $216,075.48. Following the transaction, the chief operating officer now owns 69,266 shares of the company’s stock, valued at $6,581,655.32. This represents a 3.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ariel Hurley sold 2,752 shares of the firm’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $103.13, for a total value of $283,813.76. Following the completion of the transaction, the insider now owns 16,944 shares in the company, valued at approximately $1,747,434.72. This represents a 13.97% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,503 shares of company stock worth $1,027,931. Insiders own 4.21% of the company’s stock.

Blueprint Medicines Stock Down 0.9%

Shares of NASDAQ:BPMC opened at $99.40 on Wednesday. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15. The firm has a market cap of $6.42 billion, a P/E ratio of -92.04 and a beta of 0.83. Blueprint Medicines Co. has a 12 month low of $73.04 and a 12 month high of $121.90. The company’s 50-day moving average price is $88.91 and its two-hundred day moving average price is $94.05.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.32). The company had revenue of $149.41 million for the quarter, compared to analyst estimates of $158.31 million. Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. Blueprint Medicines’s revenue for the quarter was up 55.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.40 earnings per share. As a group, research analysts forecast that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.

Analysts Set New Price Targets

BPMC has been the subject of several recent research reports. Morgan Stanley began coverage on shares of Blueprint Medicines in a research report on Thursday, March 20th. They issued an “equal weight” rating and a $100.00 price target for the company. Scotiabank initiated coverage on Blueprint Medicines in a report on Friday, March 7th. They issued a “sector outperform” rating and a $150.00 target price for the company. Wolfe Research initiated coverage on Blueprint Medicines in a research report on Tuesday, March 18th. They set an “outperform” rating for the company. HC Wainwright reiterated a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a research report on Friday, May 2nd. Finally, Needham & Company LLC dropped their price objective on Blueprint Medicines from $133.00 to $130.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Blueprint Medicines presently has an average rating of “Moderate Buy” and a consensus target price of $126.56.

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.