Blueprint Medicines Co. (NASDAQ:BPMC) Stake Raised by Rhumbline Advisers

Rhumbline Advisers grew its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 6.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,933 shares of the biotechnology company’s stock after buying an additional 5,402 shares during the period. Rhumbline Advisers owned 0.14% of Blueprint Medicines worth $8,137,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in BPMC. Avoro Capital Advisors LLC bought a new stake in shares of Blueprint Medicines during the fourth quarter valued at approximately $103,356,000. Norges Bank bought a new stake in shares of Blueprint Medicines during the fourth quarter valued at approximately $62,028,000. Rock Springs Capital Management LP raised its holdings in shares of Blueprint Medicines by 42.7% during the fourth quarter. Rock Springs Capital Management LP now owns 1,096,899 shares of the biotechnology company’s stock valued at $95,672,000 after buying an additional 328,123 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Blueprint Medicines by 8.0% during the fourth quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company’s stock valued at $373,421,000 after buying an additional 316,754 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Blueprint Medicines by 5.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,679,089 shares of the biotechnology company’s stock valued at $495,331,000 after buying an additional 291,822 shares during the last quarter.

Wall Street Analysts Forecast Growth

BPMC has been the topic of a number of research analyst reports. Citizens Jmp lowered shares of Blueprint Medicines from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 3rd. JMP Securities reiterated a “market perform” rating on shares of Blueprint Medicines in a research note on Tuesday, June 3rd. Guggenheim set a $132.00 price objective on shares of Blueprint Medicines in a research note on Tuesday, June 3rd. Stephens lowered shares of Blueprint Medicines from a “strong-buy” rating to a “hold” rating and decreased their price target for the stock from $150.00 to $135.00 in a research report on Tuesday, June 3rd. Finally, UBS Group lifted their price target on shares of Blueprint Medicines from $88.00 to $129.00 and gave the stock a “neutral” rating in a research report on Thursday, June 5th. Seventeen equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Blueprint Medicines currently has an average rating of “Hold” and an average target price of $129.35.

Blueprint Medicines Stock Performance

Shares of NASDAQ:BPMC opened at $127.97 on Wednesday. The firm has a fifty day moving average of $97.16 and a two-hundred day moving average of $96.33. The firm has a market capitalization of $8.26 billion, a P/E ratio of -118.49 and a beta of 0.84. Blueprint Medicines Co. has a 12-month low of $73.04 and a 12-month high of $128.24. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15.

Blueprint Medicines (NASDAQ:BPMC) last issued 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 net margin of 13.19% and a negative return on equity of 77.49%. The company’s quarterly revenue was up 55.5% on a year-over-year basis. During the same period last year, the business earned $1.40 EPS. On average, equities analysts expect that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

In related news, Director Jeffrey W. Albers sold 5,000 shares of Blueprint Medicines stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $101.14, for a total value of $505,700.00. Following the completion of the sale, the director now owns 146,630 shares of the company’s stock, valued at approximately $14,830,158.20. The trade was a 3.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction on Monday, March 24th. The shares were sold at an average price of $95.02, for a total transaction of $216,075.48. Following the completion of the sale, the chief operating officer now directly owns 69,266 shares of the company’s stock, valued at approximately $6,581,655.32. The trade was a 3.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,574 shares of company stock valued at $1,465,528 in the last quarter. Company insiders own 4.21% 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.