PNC Financial Services Group Inc. Boosts Stake in Blueprint Medicines Co. (NASDAQ:BPMC)

PNC Financial Services Group Inc. raised its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 31.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,650 shares of the biotechnology company’s stock after buying an additional 399 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Blueprint Medicines were worth $144,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in BPMC. Quarry LP bought a new stake in shares of Blueprint Medicines in the 3rd quarter worth about $32,000. R Squared Ltd bought a new stake in Blueprint Medicines during the fourth quarter worth approximately $51,000. Asset Management One Co. Ltd. purchased a new stake in Blueprint Medicines during the fourth quarter valued at approximately $88,000. Van ECK Associates Corp lifted its stake in shares of Blueprint Medicines by 48.2% in the 4th quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $97,000 after purchasing an additional 363 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Blueprint Medicines during the 3rd quarter valued at $108,000.

Wall Street Analysts Forecast Growth

BPMC has been the topic of a number of analyst reports. Wolfe Research initiated coverage on shares of Blueprint Medicines in a research report on Tuesday, March 18th. They set an “outperform” rating on the stock. Wedbush reissued an “outperform” rating and issued a $128.00 price objective on shares of Blueprint Medicines in a research report on Friday, February 28th. StockNews.com cut Blueprint Medicines from a “hold” rating to a “sell” rating in a research note on Monday, March 3rd. Scotiabank assumed coverage on Blueprint Medicines in a research note on Friday, March 7th. They set a “sector outperform” rating and a $150.00 price target for the company. Finally, Piper Sandler upped their price objective on Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Blueprint Medicines currently has an average rating of “Moderate Buy” and a consensus price target of $124.95.

Blueprint Medicines Price Performance

Shares of BPMC stock opened at $95.27 on Tuesday. Blueprint Medicines Co. has a 1-year low of $80.68 and a 1-year high of $121.90. The company has a market cap of $6.09 billion, a P/E ratio of -88.21 and a beta of 0.58. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80. The stock’s 50-day moving average is $99.31 and its 200 day moving average is $93.92.

Blueprint Medicines (NASDAQ:BPMC) last posted its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) 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%. Research analysts predict that Blueprint Medicines Co. will post -1.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Kate Haviland sold 1,446 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $110.24, for a total transaction of $159,407.04. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ariel Hurley sold 3,203 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.62, for a total value of $296,661.86. Following the sale, the insider now directly owns 18,270 shares in the company, valued at $1,692,167.40. This represents a 14.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,334 shares of company stock worth $3,103,512 in the last three months. Corporate insiders own 4.21% of the company’s stock.

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.