Nuveen Asset Management LLC Raises Stock Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Nuveen Asset Management LLC lifted its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 49.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 419,190 shares of the biotechnology company’s stock after acquiring an additional 138,176 shares during the quarter. Nuveen Asset Management LLC owned about 0.66% of Blueprint Medicines worth $36,562,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Cerity Partners LLC purchased a new position in Blueprint Medicines in the fourth quarter valued at about $291,000. Stephens Inc. AR acquired a new position in Blueprint Medicines during the 4th quarter worth approximately $321,000. Bank of New York Mellon Corp lifted its position in Blueprint Medicines by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 303,432 shares of the biotechnology company’s stock worth $26,465,000 after acquiring an additional 7,101 shares in the last quarter. KBC Group NV boosted its holdings in Blueprint Medicines by 63.9% in the 4th quarter. KBC Group NV now owns 2,625 shares of the biotechnology company’s stock worth $229,000 after acquiring an additional 1,023 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Blueprint Medicines in the fourth quarter valued at approximately $21,104,000.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $101.75, for a total value of $231,379.50. Following the sale, the chief operating officer now owns 66,992 shares in the company, valued at approximately $6,816,436. This trade represents a 3.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ariel Hurley sold 2,752 shares of Blueprint Medicines stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $103.13, for a total value of $283,813.76. Following the sale, the insider now directly owns 16,944 shares in the company, valued at approximately $1,747,434.72. This trade represents a 13.97% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,503 shares of company stock worth $1,027,931. 4.21% of the stock is owned by insiders.

Blueprint Medicines Stock Performance

Shares of NASDAQ BPMC opened at $103.00 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’s 50-day moving average price is $90.13 and its two-hundred day moving average price is $94.53. Blueprint Medicines Co. has a 52-week low of $73.04 and a 52-week high of $121.90. The stock has a market capitalization of $6.65 billion, a P/E ratio of -95.37 and a beta of 0.83.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BPMC. Piper Sandler upped their target price on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. JMP Securities reiterated a “market outperform” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a report on Friday, February 14th. Morgan Stanley initiated coverage on Blueprint Medicines in a research note on Thursday, March 20th. They set an “equal weight” rating and a $100.00 target price for the company. Wedbush reaffirmed an “outperform” rating and set a $128.00 target price on shares of Blueprint Medicines in a research report on Thursday, May 1st. Finally, Wolfe Research assumed coverage on Blueprint Medicines in a report on Tuesday, March 18th. They issued an “outperform” rating for the company. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.56.

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.