Mirae Asset Global Investments Co. Ltd. Raises Stock Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 0.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 37,414 shares of the biotechnology company’s stock after acquiring an additional 145 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Blueprint Medicines were worth $3,451,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Blueprint Medicines by 5.5% during the 1st quarter. BlackRock Inc. now owns 6,622,303 shares of the biotechnology company’s stock valued at $297,937,000 after buying an additional 347,618 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Blueprint Medicines by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,967,143 shares of the biotechnology company’s stock valued at $299,670,000 after buying an additional 37,716 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Blueprint Medicines by 3.2% during the 3rd quarter. Wellington Management Group LLP now owns 5,080,521 shares of the biotechnology company’s stock valued at $255,144,000 after buying an additional 156,807 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Blueprint Medicines by 15.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,948,434 shares of the biotechnology company’s stock valued at $222,631,000 after buying an additional 649,144 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Blueprint Medicines by 19.8% during the 2nd quarter. State Street Corp now owns 2,716,542 shares of the biotechnology company’s stock valued at $137,213,000 after buying an additional 449,648 shares during the last quarter.

Analyst Upgrades and Downgrades

BPMC has been the subject of a number of recent research reports. Raymond James lifted their price objective on Blueprint Medicines from $85.00 to $100.00 and gave the company a “strong-buy” rating in a research note on Friday, December 22nd. Wedbush restated an “outperform” rating and issued a $97.00 price target on shares of Blueprint Medicines in a research note on Monday, February 5th. Stifel Nicolaus lifted their price target on Blueprint Medicines from $95.00 to $97.00 and gave the company a “buy” rating in a research note on Tuesday, January 9th. JMP Securities restated a “market outperform” rating and issued a $114.00 price target on shares of Blueprint Medicines in a research note on Wednesday, April 10th. Finally, Citigroup lifted their price target on Blueprint Medicines from $54.00 to $65.00 and gave the company a “sell” rating in a research note on Friday, February 16th. Four analysts have rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $85.43.

Blueprint Medicines Trading Up 1.1 %

Shares of Blueprint Medicines stock opened at $86.09 on Wednesday. The stock has a market cap of $5.27 billion, a P/E ratio of -10.30 and a beta of 0.63. The stock’s 50 day simple moving average is $88.93 and its 200-day simple moving average is $76.88. Blueprint Medicines Co. has a 1-year low of $43.89 and a 1-year high of $101.00. The company has a debt-to-equity ratio of 1.60, a current ratio of 3.76 and a quick ratio of 3.66.

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. The business had revenue of $71.96 million for the quarter, compared to analysts’ expectations of $67.34 million. Blueprint Medicines had a negative return on equity of 191.56% and a negative net margin of 203.30%. The business’s revenue for the quarter was up 85.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($2.65) EPS. Analysts predict that Blueprint Medicines Co. will post -5.42 EPS for the current fiscal year.

Insider Transactions at Blueprint Medicines

In other news, Director Jeffrey W. Albers sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $81.91, for a total transaction of $2,047,750.00. Following the transaction, the director now directly owns 176,050 shares in the company, valued at approximately $14,420,255.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Jeffrey W. Albers sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $81.91, for a total transaction of $2,047,750.00. Following the transaction, the director now directly owns 176,050 shares in the company, valued at approximately $14,420,255.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Christopher K. Murray sold 621 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 36,374 shares in the company, valued at $3,406,425.10. The disclosure for this sale can be found here. Insiders have sold a total of 117,289 shares of company stock worth $10,361,913 in the last ninety days. Insiders own 3.88% of the company’s stock.

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.