Massachusetts Financial Services Co. MA Acquires 82,693 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Massachusetts Financial Services Co. MA increased its holdings in Blueprint Medicines Co. (NASDAQ:BPMC) by 48.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 252,236 shares of the biotechnology company’s stock after acquiring an additional 82,693 shares during the period. Massachusetts Financial Services Co. MA owned about 0.40% of Blueprint Medicines worth $23,332,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. American Century Companies Inc. grew its holdings in shares of Blueprint Medicines by 4.2% in the second quarter. American Century Companies Inc. now owns 802,733 shares of the biotechnology company’s stock valued at $86,519,000 after acquiring an additional 32,600 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Blueprint Medicines by 540.0% in the second quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company’s stock valued at $67,646,000 after acquiring an additional 529,566 shares in the last quarter. Hood River Capital Management LLC grew its holdings in shares of Blueprint Medicines by 7.0% in the second quarter. Hood River Capital Management LLC now owns 502,820 shares of the biotechnology company’s stock valued at $54,194,000 after acquiring an additional 32,694 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in shares of Blueprint Medicines by 200,159.4% in the second quarter. 1832 Asset Management L.P. now owns 502,651 shares of the biotechnology company’s stock valued at $54,176,000 after acquiring an additional 502,400 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Blueprint Medicines by 79.3% in the second quarter. Point72 Asset Management L.P. now owns 501,581 shares of the biotechnology company’s stock valued at $54,060,000 after acquiring an additional 221,813 shares in the last quarter.

Insider Buying and Selling

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the firm’s stock in a transaction dated 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 owns 69,070 shares in the company, valued at $6,169,332.40. This trade represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.21% of the stock is currently owned by company insiders.

Blueprint Medicines Trading Down 0.3 %

Shares of BPMC stock opened at $93.87 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32. Blueprint Medicines Co. has a 52-week low of $67.00 and a 52-week high of $121.90. The company has a market capitalization of $5.96 billion, a PE ratio of -44.49 and a beta of 0.59. The business’s fifty day moving average is $90.51 and its 200 day moving average is $98.36.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wells Fargo & Company reduced their target price on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. UBS Group began coverage on Blueprint Medicines in a report on Thursday, October 24th. They set a “neutral” rating and a $88.00 price objective for the company. Barclays increased their price objective on Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Needham & Company LLC reissued a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, November 15th. Finally, HC Wainwright reissued a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $122.11.

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.