Blueprint Medicines Co. (NASDAQ:BPMC) Position Boosted by Amalgamated Bank

Amalgamated Bank increased its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 5.3% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,154 shares of the biotechnology company’s stock after purchasing an additional 109 shares during the period. Amalgamated Bank’s holdings in Blueprint Medicines were worth $232,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp grew its position in shares of Blueprint Medicines by 13.3% in the 2nd quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock worth $120,000 after acquiring an additional 131 shares in the last quarter. EFG Asset Management North America Corp. increased its stake in Blueprint Medicines by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 27,884 shares of the biotechnology company’s stock valued at $3,008,000 after purchasing an additional 132 shares during the last quarter. US Bancorp DE increased its stake in Blueprint Medicines by 5.2% during the first quarter. US Bancorp DE now owns 3,724 shares of the biotechnology company’s stock valued at $353,000 after purchasing an additional 183 shares during the last quarter. Principal Financial Group Inc. raised its holdings 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, Triad Wealth Partners LLC bought a new position in shares of Blueprint Medicines in the 2nd quarter worth about $27,000.

Insiders Place Their Bets

In related news, insider Philina Lee sold 41,913 shares of the firm’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 completion of the transaction, the insider now owns 34,729 shares of the company’s stock, valued at approximately $3,236,395.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Philina Lee sold 41,913 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Debra Durso-Bumpus sold 8,817 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $111.29, for a total transaction of $981,243.93. Following the completion of the sale, the insider now owns 43,763 shares of the company’s stock, valued at approximately $4,870,384.27. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,580 shares of company stock worth $5,315,236. Company insiders own 4.21% of the company’s stock.

Blueprint Medicines Trading Down 0.1 %

Blueprint Medicines stock opened at $92.50 on Tuesday. Blueprint Medicines Co. has a 12-month low of $43.89 and a 12-month high of $121.90. The stock has a market capitalization of $5.79 billion, a PE ratio of -19.23 and a beta of 0.58. The firm has a 50 day simple moving average of $94.60 and a 200-day simple moving average of $99.09. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.71 and a quick ratio of 3.65.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BPMC shares. JMP Securities reiterated a “market outperform” rating and set a $125.00 price objective on shares of Blueprint Medicines in a research note on Friday, June 7th. Morgan Stanley upped their target price on Blueprint Medicines from $110.00 to $115.00 and gave the company an “equal weight” rating in a report on Friday, July 12th. Guggenheim raised their price target on Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and set a $130.00 price objective on shares of Blueprint Medicines in a research note on Thursday, August 1st. Finally, Robert W. Baird increased their target price on Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.00.

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.