Federated Hermes Inc. Acquires New Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Federated Hermes Inc. bought a new position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 24,043 shares of the biotechnology company’s stock, valued at approximately $2,218,000.

A number of other hedge funds have also modified their holdings of BPMC. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Blueprint Medicines by 10.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,369 shares of the biotechnology company’s stock valued at $1,233,000 after buying an additional 1,314 shares during the last quarter. Strs Ohio grew its position in Blueprint Medicines by 94.3% in the 4th quarter. Strs Ohio now owns 6,800 shares of the biotechnology company’s stock valued at $627,000 after buying an additional 3,300 shares during the last quarter. Mutual of America Capital Management LLC lifted its holdings in Blueprint Medicines by 16.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 36,602 shares of the biotechnology company’s stock valued at $3,376,000 after acquiring an additional 5,204 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Blueprint Medicines by 0.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,414 shares of the biotechnology company’s stock valued at $3,451,000 after acquiring an additional 145 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in Blueprint Medicines by 353.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,032 shares of the biotechnology company’s stock valued at $649,000 after acquiring an additional 5,482 shares during the period.

Wall Street Analyst Weigh In

A number of research firms have commented on BPMC. Barclays raised their target price on Blueprint Medicines from $58.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, February 13th. HC Wainwright reaffirmed a “buy” rating and set a $125.00 price target on shares of Blueprint Medicines in a research note on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $97.00 price target on shares of Blueprint Medicines in a research note on Friday. Stifel Nicolaus boosted their target price on shares of Blueprint Medicines from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday. Finally, JMP Securities reissued a “market outperform” rating and issued a $114.00 target price on shares of Blueprint Medicines in a research note on Wednesday, April 10th. Four investment analysts have rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $91.57.

Blueprint Medicines Stock Up 2.5 %

Shares of NASDAQ:BPMC opened at $93.00 on Monday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 3.66 and a current ratio of 3.76. Blueprint Medicines Co. has a 1 year low of $43.89 and a 1 year high of $101.00. The stock has a market capitalization of $5.69 billion, a P/E ratio of -11.12 and a beta of 0.63. The stock has a 50-day simple moving average of $90.79 and a 200-day simple moving average of $79.20.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the business earned ($2.65) EPS. The company’s revenue for the quarter was up 85.5% on a year-over-year basis. Equities analysts forecast that Blueprint Medicines Co. will post -5.41 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Michael Landsittel sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $95.00, for a total transaction of $475,000.00. Following the sale, the chief financial officer now directly owns 47,286 shares of the company’s stock, valued at approximately $4,492,170. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Jeffrey W. Albers sold 25,073 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $87.28, for a total transaction of $2,188,371.44. Following the completion of the transaction, the director now directly owns 176,050 shares in the company, valued at approximately $15,365,644. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Michael Landsittel sold 5,000 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $95.00, for a total value of $475,000.00. Following the transaction, the chief financial officer now owns 47,286 shares of the company’s stock, valued at $4,492,170. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 92,289 shares of company stock valued at $8,314,163. Corporate insiders own 3.88% of the company’s stock.

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.