Fifth Third Bancorp Has $268,000 Stock Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Fifth Third Bancorp lifted its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 207.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,075 shares of the biotechnology company’s stock after acquiring an additional 2,075 shares during the period. Fifth Third Bancorp’s holdings in Blueprint Medicines were worth $268,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Wellington Management Group LLP increased its position in Blueprint Medicines by 22.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company’s stock worth $366,726,000 after purchasing an additional 729,055 shares in the last quarter. State Street Corp grew its stake in shares of Blueprint Medicines by 16.2% during the third quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock worth $255,827,000 after buying an additional 385,818 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Blueprint Medicines by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,480,187 shares of the biotechnology company’s stock worth $136,942,000 after buying an additional 20,703 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Blueprint Medicines by 9.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 597,232 shares of the biotechnology company’s stock valued at $55,244,000 after acquiring an additional 50,736 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Blueprint Medicines by 161.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 496,087 shares of the biotechnology company’s stock valued at $45,888,000 after acquiring an additional 306,079 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BPMC shares. JMP Securities reissued a “market outperform” rating and set a $125.00 target price on shares of Blueprint Medicines in a report on Wednesday, January 15th. Stephens reissued an “overweight” rating and issued a $140.00 price objective on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Guggenheim reaffirmed a “buy” rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. Wedbush reaffirmed an “outperform” rating and set a $124.00 target price (down from $135.00) on shares of Blueprint Medicines in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. began coverage on Blueprint Medicines in a research note on Thursday, November 14th. They issued an “overweight” rating and a $126.00 price target for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $123.56.

Insider Activity

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $95.10, for a total transaction of $216,257.40. Following the sale, the chief operating officer now directly owns 71,657 shares of the company’s stock, valued at $6,814,580.70. This trade represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kate Haviland sold 2,353 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $96.60, for a total transaction of $227,299.80. Following the sale, the chief executive officer now directly owns 150,824 shares of the company’s stock, valued at approximately $14,569,598.40. This trade represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,851 shares of company stock valued at $4,984,696 in the last quarter. 4.21% of the stock is currently owned by insiders.

Blueprint Medicines Trading Down 1.3 %

NASDAQ:BPMC opened at $112.53 on Friday. Blueprint Medicines Co. has a 52 week low of $72.24 and a 52 week high of $121.90. The stock has a market cap of $7.15 billion, a price-to-earnings ratio of -53.33 and a beta of 0.61. The company’s 50 day moving average price is $97.78 and its 200-day moving average price is $95.35. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.08. The company had revenue of $128.20 million for the quarter, compared to the consensus estimate of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The firm’s revenue for the quarter was up 126.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($2.20) earnings per share. On average, equities research analysts forecast that Blueprint Medicines Co. will post -3.68 earnings per share for the current fiscal year.

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.