169,543 Shares in Blueprint Medicines Co. (NASDAQ:BPMC) Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA bought a new stake in Blueprint Medicines Co. (NASDAQ:BPMC) during the second quarter, Holdings Channel.com reports. The firm bought 169,543 shares of the biotechnology company’s stock, valued at approximately $18,273,000.

Several other hedge funds and other institutional investors also recently modified their holdings of BPMC. Triad Wealth Partners LLC acquired a new stake in shares of Blueprint Medicines in the 2nd quarter worth about $27,000. Covestor Ltd boosted its position in shares of Blueprint Medicines by 9,700.0% during the first quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock worth $28,000 after buying an additional 291 shares during the period. Headlands Technologies LLC boosted its position in shares of Blueprint Medicines by 105.2% during the first quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock worth $63,000 after buying an additional 342 shares during the period. Natixis bought a new position in Blueprint Medicines in the 1st quarter worth approximately $73,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Blueprint Medicines in the 4th quarter valued at approximately $95,000.

Blueprint Medicines Trading Up 0.8 %

Shares of BPMC opened at $91.68 on Friday. The company has a current ratio of 3.71, a quick ratio of 3.65 and a debt-to-equity ratio of 1.06. Blueprint Medicines Co. has a 1-year low of $43.89 and a 1-year high of $121.90. The stock has a market capitalization of $5.74 billion, a P/E ratio of -19.06 and a beta of 0.58. The business’s 50-day moving average price is $98.29 and its 200 day moving average price is $98.96.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.49. The business had revenue of $138.20 million for the quarter, compared to the consensus estimate of $104.02 million. Blueprint Medicines had a negative net margin of 56.64% and a negative return on equity of 157.30%. The firm’s quarterly revenue was up 139.9% compared to the same quarter last year. During the same period last year, the firm posted ($2.19) earnings per share. Analysts expect that Blueprint Medicines Co. will post -3.99 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Debra Durso-Bumpus sold 3,850 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $111.20, for a total value of $428,120.00. Following the completion of the sale, the insider now owns 43,763 shares of the company’s stock, valued at $4,866,445.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Blueprint Medicines news, insider Philina Lee sold 41,913 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $93.19, for a total value of $3,905,872.47. Following the transaction, the insider now owns 34,729 shares in the company, valued at approximately $3,236,395.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Debra Durso-Bumpus sold 3,850 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $111.20, for a total transaction of $428,120.00. Following the completion of the sale, the insider now owns 43,763 shares of the company’s stock, valued at approximately $4,866,445.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,913 shares of company stock worth $5,352,249. Corporate insiders own 4.21% of the company’s stock.

Wall Street Analyst Weigh In

BPMC has been the subject of several recent analyst reports. Baird R W raised Blueprint Medicines to a “strong-buy” rating in a research note on Friday, August 2nd. Barclays increased their target price on shares of Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. JMP Securities reaffirmed a “market outperform” rating and issued a $125.00 price target on shares of Blueprint Medicines in a research note on Friday, June 7th. Robert W. Baird raised their price objective on shares of Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Guggenheim boosted their target price on Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Blueprint Medicines presently has an average rating of “Moderate Buy” and a consensus target price of $120.00.

About Blueprint Medicines

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.