Clearbridge Investments LLC Purchases New Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Clearbridge Investments LLC acquired a new position in Blueprint Medicines Co. (NASDAQ:BPMC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 220,980 shares of the biotechnology company’s stock, valued at approximately $23,817,000.

Other institutional investors have also added to or reduced their stakes in the company. Triad Wealth Partners LLC bought a new stake in shares of Blueprint Medicines during the second quarter worth $27,000. Covestor Ltd increased its stake in Blueprint Medicines by 9,700.0% in the 1st 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 lifted its holdings in Blueprint Medicines by 105.2% during the 1st quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock valued at $63,000 after buying an additional 342 shares in the last quarter. Natixis purchased a new stake in Blueprint Medicines in the 1st quarter valued at about $73,000. Finally, CWM LLC grew its stake in Blueprint Medicines by 114.6% in the 2nd quarter. CWM LLC now owns 1,105 shares of the biotechnology company’s stock worth $119,000 after acquiring an additional 590 shares in the last quarter.

Blueprint Medicines Price Performance

Shares of NASDAQ BPMC opened at $88.61 on Friday. Blueprint Medicines Co. has a 52 week low of $43.89 and a 52 week high of $121.90. The business’s 50 day moving average price is $93.06 and its 200 day moving average price is $98.95. The company has a quick ratio of 3.65, a current ratio of 3.71 and a debt-to-equity ratio of 1.06. The firm has a market cap of $5.55 billion, a P/E ratio of -18.42 and a beta of 0.58.

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

Insider Buying and Selling at Blueprint Medicines

In related news, insider Philina Lee sold 41,913 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 34,729 shares of the company’s stock, valued at $3,236,395.51. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Philina Lee sold 41,913 shares of the business’s stock in a transaction 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 directly owns 34,729 shares in the company, valued at $3,236,395.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Fouad Namouni sold 3,633 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total transaction of $324,499.56. Following the sale, the insider now directly owns 69,070 shares in the company, valued at $6,169,332.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Oppenheimer raised their price objective on Blueprint Medicines from $114.00 to $125.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Needham & Company LLC restated a “buy” rating and set a $130.00 price target on shares of Blueprint Medicines in a research note on Thursday, August 1st. Guggenheim lifted their price objective on Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a report on Friday, August 2nd. JMP Securities reiterated a “market outperform” rating and set a $125.00 target price on shares of Blueprint Medicines in a report on Friday, June 7th. Finally, Barclays boosted their price target on shares of Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.