Price T Rowe Associates Inc. MD Has $592.95 Million Stock Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Price T Rowe Associates Inc. MD increased its stake in Blueprint Medicines Co. (NASDAQ:BPMC) by 15.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 6,250,823 shares of the biotechnology company’s stock after purchasing an additional 821,868 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.10% of Blueprint Medicines worth $592,954,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BPMC. Mirae Asset Global Investments Co. Ltd. raised its position in shares of 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 purchasing an additional 145 shares during the period. US Bancorp DE boosted its holdings in shares of Blueprint Medicines by 5.2% during the first quarter. US Bancorp DE now owns 3,724 shares of the biotechnology company’s stock worth $353,000 after acquiring an additional 183 shares during the period. Van ECK Associates Corp grew its position in shares of Blueprint Medicines by 28.4% in the fourth quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock valued at $80,000 after purchasing an additional 193 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Blueprint Medicines by 1.7% during the fourth quarter. Principal Financial Group Inc. now owns 14,510 shares of the biotechnology company’s stock worth $1,338,000 after purchasing an additional 247 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in Blueprint Medicines by 3.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 6,834 shares of the biotechnology company’s stock worth $648,000 after purchasing an additional 256 shares during the last quarter.

Blueprint Medicines Price Performance

NASDAQ:BPMC traded down $1.14 during trading hours on Monday, hitting $111.05. The company’s stock had a trading volume of 83,409 shares, compared to its average volume of 696,544. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.61 and a current ratio of 3.76. Blueprint Medicines Co. has a twelve month low of $43.89 and a twelve month high of $121.90. The stock has a fifty day simple moving average of $108.61 and a 200-day simple moving average of $96.52.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported ($1.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.64) by $0.32. The company had revenue of $96.12 million for the quarter, compared to the consensus estimate of $82.58 million. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 193.48%. As a group, equities analysts anticipate that Blueprint Medicines Co. will post -4.67 EPS for the current year.

Insiders Place Their Bets

In other news, insider Debra Durso-Bumpus sold 8,817 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $111.29, for a total transaction of $981,243.93. Following the completion of the transaction, the insider now directly owns 43,763 shares in the company, valued at $4,870,384.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Debra Durso-Bumpus sold 8,817 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $111.29, for a total transaction of $981,243.93. Following the sale, the insider now directly owns 43,763 shares in the company, valued at $4,870,384.27. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider L. Becker Hewes sold 34,108 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $105.91, for a total transaction of $3,612,378.28. Following the completion of the transaction, the insider now owns 36,860 shares of the company’s stock, valued at approximately $3,903,842.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 141,898 shares of company stock valued at $14,957,242. 4.21% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Blueprint Medicines in a report on Friday, June 28th. JMP Securities reaffirmed a “market outperform” rating and set a $125.00 target price on shares of Blueprint Medicines in a report on Friday, June 7th. Barclays boosted their price target on Blueprint Medicines from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Piper Sandler increased their price target on Blueprint Medicines from $78.00 to $104.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Finally, HC Wainwright lifted their price objective on Blueprint Medicines from $125.00 to $135.00 and gave the company a “buy” rating in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $116.33.

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.