Blueprint Medicines Co. (NASDAQ:BPMC) Stock Holdings Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 2.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 303,432 shares of the biotechnology company’s stock after acquiring an additional 7,101 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.48% of Blueprint Medicines worth $26,465,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BPMC. Quarry LP purchased a new stake in shares of Blueprint Medicines in the third quarter valued at $32,000. R Squared Ltd acquired a new position in Blueprint Medicines during the fourth quarter valued at $51,000. Covestor Ltd lifted its stake in Blueprint Medicines by 206.7% in the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock worth $55,000 after acquiring an additional 403 shares in the last quarter. Asset Management One Co. Ltd. acquired a new stake in Blueprint Medicines during the 4th quarter worth about $88,000. Finally, Van ECK Associates Corp grew its stake in Blueprint Medicines by 48.2% during the 4th quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $97,000 after acquiring an additional 363 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Scotiabank started coverage on shares of Blueprint Medicines in a research note on Friday. They issued a “sector outperform” rating and a $150.00 price objective on the stock. Stephens reaffirmed an “overweight” rating and issued a $140.00 price target on shares of Blueprint Medicines in a research note on Thursday, January 2nd. HC Wainwright reiterated a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, February 14th. Wedbush restated an “outperform” rating and issued a $128.00 target price on shares of Blueprint Medicines in a research note on Friday, February 28th. Finally, Piper Sandler raised their price target on Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $125.21.

Blueprint Medicines Stock Down 1.6 %

BPMC stock opened at $87.12 on Monday. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of -80.67 and a beta of 0.58. The company has a 50-day moving average of $99.38 and a two-hundred day moving average of $94.21. Blueprint Medicines Co. has a 52-week low of $80.68 and a 52-week high of $121.90. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.11). Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. As a group, equities research analysts anticipate that Blueprint Medicines Co. will post -1.28 EPS for the current year.

Insider Transactions at Blueprint Medicines

In related news, CEO Kate Haviland sold 1,446 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total transaction of $159,407.04. Following the transaction, the chief executive officer now directly owns 149,378 shares in the company, valued at $16,467,430.72. The trade was a 0.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ariel Hurley sold 1,819 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $93.26, for a total value of $169,639.94. Following the completion of the transaction, the insider now directly owns 14,967 shares of the company’s stock, valued at approximately $1,395,822.42. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,427 shares of company stock worth $4,837,801. Insiders own 4.21% of the company’s stock.

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.