Prudential Financial Inc. Has $8.77 Million Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Prudential Financial Inc. grew its holdings in Blueprint Medicines Co. (NASDAQ:BPMC) by 11.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 100,538 shares of the biotechnology company’s stock after buying an additional 10,687 shares during the quarter. Prudential Financial Inc. owned 0.16% of Blueprint Medicines worth $8,769,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Torray Investment Partners LLC raised its position in Blueprint Medicines by 1.1% in the fourth quarter. Torray Investment Partners LLC now owns 16,499 shares of the biotechnology company’s stock worth $1,439,000 after purchasing an additional 186 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Blueprint Medicines by 0.7% in the 3rd quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company’s stock worth $3,259,000 after buying an additional 265 shares in the last quarter. Hillsdale Investment Management Inc. lifted its position in shares of Blueprint Medicines by 0.6% during the 4th quarter. Hillsdale Investment Management Inc. now owns 50,830 shares of the biotechnology company’s stock worth $4,433,000 after buying an additional 310 shares during the period. Quarry LP acquired a new stake in Blueprint Medicines in the 3rd quarter valued at $32,000. Finally, Van ECK Associates Corp grew its position in Blueprint Medicines by 48.2% in the fourth quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $97,000 after acquiring an additional 363 shares during the period.

Blueprint Medicines Trading Down 1.1 %

NASDAQ BPMC opened at $88.72 on Friday. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. Blueprint Medicines Co. has a 12 month low of $80.68 and a 12 month high of $121.90. The company has a market capitalization of $5.67 billion, a PE ratio of -82.15 and a beta of 0.58. The stock has a 50-day simple moving average of $98.13 and a 200 day simple moving average of $93.99.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.11). Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. Research analysts forecast that Blueprint Medicines Co. will post -1.28 EPS for the current year.

Insider Transactions at Blueprint Medicines

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 15,161 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $109.53, for a total value of $1,660,584.33. Following the completion of the sale, the director now directly owns 152,396 shares in the company, valued at $16,691,933.88. This represents a 9.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ariel Hurley sold 2,250 shares of Blueprint Medicines stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $100.00, for a total value of $225,000.00. Following the transaction, the insider now owns 14,967 shares in the company, valued at $1,496,700. This trade represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,608 shares of company stock valued at $3,319,587 over the last three months. 4.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

BPMC has been the topic of several recent analyst reports. Scotiabank began coverage on shares of Blueprint Medicines in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $150.00 target price on the stock. Piper Sandler upped their price objective on shares of Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Wedbush reiterated an “outperform” rating and issued a $128.00 target price on shares of Blueprint Medicines in a research note on Friday, February 28th. HC Wainwright restated a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a research report on Friday, February 14th. Finally, StockNews.com cut Blueprint Medicines from a “hold” rating to a “sell” rating in a report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $124.95.

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.