Allspring Global Investments Holdings LLC Grows Stake in Blueprint Medicines Co. (NASDAQ:BPMC)

Allspring Global Investments Holdings LLC lifted its stake in Blueprint Medicines Co. (NASDAQ:BPMC) by 40.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,206 shares of the biotechnology company’s stock after purchasing an additional 927 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Blueprint Medicines were worth $297,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of BPMC. Triad Wealth Partners LLC bought a new position in Blueprint Medicines during the second quarter valued at $27,000. Covestor Ltd boosted its stake in shares of Blueprint Medicines by 9,700.0% during the 1st quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 291 shares during the period. Headlands Technologies LLC grew 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 purchasing an additional 342 shares during the last quarter. Natixis purchased a new stake in Blueprint Medicines in the 1st quarter worth about $73,000. Finally, CWM LLC lifted its stake in Blueprint Medicines by 114.6% in the second quarter. CWM LLC now owns 1,105 shares of the biotechnology company’s stock worth $119,000 after purchasing an additional 590 shares during the last quarter.

Insiders Place Their Bets

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total transaction of $324,499.56. Following the transaction, the insider now owns 69,070 shares in the company, valued at approximately $6,169,332.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the business’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 approximately $6,169,332.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Philina Lee sold 41,913 shares of Blueprint Medicines stock in a transaction dated 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.21% of the company’s stock.

Blueprint Medicines Stock Up 3.6 %

Shares of Blueprint Medicines stock opened at $90.70 on Friday. The firm’s 50 day moving average price is $88.79 and its 200-day moving average price is $98.39. 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 Co. has a 52-week low of $56.74 and a 52-week high of $121.90. The company has a market cap of $5.75 billion, a P/E ratio of -42.99 and a beta of 0.58.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.08. Blueprint Medicines had a negative return on equity of 118.86% and a negative net margin of 29.48%. The firm had revenue of $128.20 million during the quarter, compared to analysts’ expectations of $127.56 million. During the same quarter last year, the firm earned ($2.20) EPS. The business’s quarterly revenue was up 126.5% on a year-over-year basis. On average, sell-side analysts predict that Blueprint Medicines Co. will post -3.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on BPMC shares. StockNews.com cut Blueprint Medicines from a “hold” rating to a “sell” rating in a report on Thursday. Guggenheim upped their price target on shares of Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Morgan Stanley raised their target price on shares of Blueprint Medicines from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Friday, July 12th. Wells Fargo & Company dropped their price objective on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Baird R W raised Blueprint Medicines to a “strong-buy” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Blueprint Medicines has a consensus rating of “Moderate Buy” and a consensus target price of $120.39.

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.