Massachusetts Financial Services Co. MA Invests $18.27 Million in Blueprint Medicines Co. (NASDAQ:BPMC)

Massachusetts Financial Services Co. MA bought a new stake in Blueprint Medicines Co. (NASDAQ:BPMC) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 169,543 shares of the biotechnology company’s stock, valued at approximately $18,273,000. Massachusetts Financial Services Co. MA owned 0.27% of Blueprint Medicines as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in shares of Blueprint Medicines by 15.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,250,823 shares of the biotechnology company’s stock worth $592,954,000 after buying an additional 821,868 shares during the period. Norges Bank acquired a new stake in Blueprint Medicines during the fourth quarter worth about $55,893,000. Vanguard Group Inc. raised its holdings in shares of Blueprint Medicines by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company’s stock worth $598,564,000 after purchasing an additional 195,007 shares during the period. First Turn Management LLC acquired a new position in shares of Blueprint Medicines in the 2nd quarter valued at about $19,929,000. Finally, Redmile Group LLC acquired a new position in shares of Blueprint Medicines in the 1st quarter valued at about $10,725,000.

Blueprint Medicines Stock Up 0.8 %

Shares of NASDAQ:BPMC opened at $91.68 on Friday. The firm has a market cap of $5.74 billion, a PE ratio of -19.06 and a beta of 0.58. The company has a fifty day simple moving average of $98.29 and a 200 day simple moving average of $98.96. The company has a current ratio of 3.71, a quick ratio of 3.65 and a debt-to-equity ratio of 1.06. Blueprint Medicines Co. has a 12-month low of $43.89 and a 12-month high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share for the quarter, topping 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 company had revenue of $138.20 million during the quarter, compared to the consensus estimate of $104.02 million. During the same quarter in the previous year, the firm earned ($2.19) EPS. The company’s revenue was up 139.9% on a year-over-year basis. On average, equities research analysts anticipate that Blueprint Medicines Co. will post -3.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Debra Durso-Bumpus sold 8,817 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $111.29, for a total value of $981,243.93. Following the completion of the sale, the insider now directly owns 43,763 shares in the company, valued at approximately $4,870,384.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Blueprint Medicines news, insider Debra Durso-Bumpus sold 8,817 shares of Blueprint Medicines stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $111.29, for a total value of $981,243.93. Following the completion of the transaction, the insider now owns 43,763 shares of the company’s stock, valued at $4,870,384.27. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Philina Lee sold 41,913 shares of the stock in a transaction on 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 in the company, valued at $3,236,395.51. The disclosure for this sale can be found here. Insiders have sold a total of 54,913 shares of company stock valued at $5,352,249 in the last quarter. Insiders own 4.21% of the company’s stock.

Wall Street Analyst Weigh In

BPMC has been the subject of a number of research analyst reports. Robert W. Baird increased their target price on shares of Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. JMP Securities restated a “market outperform” rating and set a $125.00 target price on shares of Blueprint Medicines in a report on Friday, June 7th. Morgan Stanley increased their price target on Blueprint Medicines from $110.00 to $115.00 and gave the company an “equal weight” rating in a report on Friday, July 12th. Needham & Company LLC restated a “buy” rating and set a $130.00 price objective on shares of Blueprint Medicines in a research note on Thursday, August 1st. Finally, Guggenheim increased their target price on Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Blueprint Medicines presently has an average rating of “Moderate Buy” and a consensus price target of $120.00.

About Blueprint Medicines

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.