Xponance Inc. Buys 315 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Xponance Inc. grew its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 8.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,174 shares of the biotechnology company’s stock after buying an additional 315 shares during the quarter. Xponance Inc.’s holdings in Blueprint Medicines were worth $450,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Principal Financial Group Inc. raised its position in Blueprint Medicines by 331.9% during the first quarter. Principal Financial Group Inc. now owns 62,670 shares of the biotechnology company’s stock valued at $5,945,000 after purchasing an additional 48,160 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Blueprint Medicines in the 1st quarter worth about $474,000. Vanguard Group Inc. increased its position in shares of Blueprint Medicines by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 6,114,970 shares of the biotechnology company’s stock valued at $564,045,000 after purchasing an additional 147,827 shares during the last quarter. Comerica Bank raised its holdings in shares of Blueprint Medicines by 2,582.9% during the 1st quarter. Comerica Bank now owns 10,839 shares of the biotechnology company’s stock valued at $1,028,000 after buying an additional 10,435 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in Blueprint Medicines by 27.8% in the 2nd quarter. Federated Hermes Inc. now owns 62,354 shares of the biotechnology company’s stock worth $6,721,000 after buying an additional 13,579 shares during the last quarter.

Insider Buying and Selling at Blueprint Medicines

In related news, insider Debra Durso-Bumpus sold 8,817 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $111.29, for a total value of $981,243.93. Following the completion of the transaction, the insider now directly owns 43,763 shares in the company, valued at approximately $4,870,384.27. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Blueprint Medicines news, insider Philina Lee sold 41,913 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 34,729 shares of the company’s stock, valued at $3,236,395.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Debra Durso-Bumpus sold 8,817 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $111.29, for a total value of $981,243.93. Following the completion of the sale, the insider now directly 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 90 days, insiders sold 54,580 shares of company stock valued at $5,315,236. 4.21% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have commented on BPMC shares. Baird R W upgraded shares of Blueprint Medicines to a “strong-buy” rating in a research report on Friday, August 2nd. Robert W. Baird increased their target price on shares of Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Oppenheimer boosted their price target on shares of Blueprint Medicines from $114.00 to $125.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Guggenheim raised their price objective on Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, JMP Securities reissued a “market outperform” rating and issued a $125.00 target price on shares of Blueprint Medicines in a research note on Friday, June 7th. One equities 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 issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $120.00.

Blueprint Medicines Price Performance

Shares of NASDAQ BPMC opened at $92.50 on Tuesday. 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 Co. has a 1 year low of $43.89 and a 1 year high of $121.90. The company’s 50-day moving average is $94.60 and its 200 day moving average is $99.09. The stock has a market capitalization of $5.79 billion, a P/E ratio of -19.23 and a beta of 0.58.

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