Citizens Financial Group Inc. RI Takes Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Citizens Financial Group Inc. RI bought a new position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,929 shares of the biotechnology company’s stock, valued at approximately $423,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Triad Wealth Partners LLC bought a new position in Blueprint Medicines in the 2nd quarter worth approximately $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 acquiring an additional 291 shares during the last quarter. Headlands Technologies LLC grew its stake in Blueprint Medicines by 105.2% during the first quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock valued at $63,000 after acquiring an additional 342 shares in the last quarter. Natixis bought a new stake in Blueprint Medicines in the 1st quarter valued at $73,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Blueprint Medicines in the 4th quarter worth $95,000.

Blueprint Medicines Stock Performance

Shares of Blueprint Medicines stock opened at $89.33 on Thursday. Blueprint Medicines Co. has a 52 week low of $43.89 and a 52 week high of $121.90. The company has a market capitalization of $5.59 billion, a PE ratio of -18.57 and a beta of 0.58. The stock’s fifty day moving average is $99.35 and its two-hundred day moving average is $99.08. The company has a quick ratio of 3.65, a current ratio of 3.71 and a debt-to-equity ratio of 1.06.

Blueprint Medicines (NASDAQ:BPMC) last posted 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 company 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 revenue was up 139.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($2.19) EPS. As a group, analysts expect that Blueprint Medicines Co. will post -3.99 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on BPMC shares. Morgan Stanley lifted their target price on Blueprint Medicines from $110.00 to $115.00 and gave the stock an “equal weight” rating in a report on Friday, July 12th. Guggenheim upped their price objective on Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. JMP Securities reissued a “market outperform” rating and issued a $125.00 target price on shares of Blueprint Medicines in a report on Friday, June 7th. Baird R W raised shares of Blueprint Medicines to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Robert W. Baird upped their target price on shares of Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.00.

Insider Transactions at Blueprint Medicines

In other Blueprint Medicines news, insider Philina Lee sold 41,913 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the transaction, the insider now directly owns 34,729 shares in the company, 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 firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the transaction, the insider now owns 34,729 shares in the company, valued at $3,236,395.51. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Debra Durso-Bumpus sold 8,817 shares of the 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 transaction, the insider now owns 43,763 shares in the company, valued at $4,870,384.27. The disclosure for this sale can be found here. Over the last three months, insiders have sold 128,947 shares of company stock valued at $13,065,852. 4.21% of the stock is currently owned by company insiders.

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.