Bank of New York Mellon Corp Grows Stock Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Bank of New York Mellon Corp lifted its holdings in Blueprint Medicines Co. (NASDAQ:BPMC) by 13.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 273,930 shares of the biotechnology company’s stock after purchasing an additional 32,740 shares during the period. Bank of New York Mellon Corp owned about 0.44% of Blueprint Medicines worth $29,524,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in Blueprint Medicines by 15.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,250,823 shares of the biotechnology company’s stock worth $592,954,000 after acquiring an additional 821,868 shares during the period. Norges Bank bought a new position in Blueprint Medicines in the 4th quarter worth $55,893,000. Vanguard Group Inc. raised its holdings in 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. Victory Capital Management Inc. lifted its position in Blueprint Medicines by 1,906.0% during the fourth quarter. Victory Capital Management Inc. now owns 131,050 shares of the biotechnology company’s stock valued at $12,088,000 after purchasing an additional 124,517 shares in the last quarter. Finally, Redmile Group LLC bought a new stake in Blueprint Medicines during the first quarter valued at about $10,725,000.

Blueprint Medicines Price Performance

Blueprint Medicines stock opened at $92.53 on Wednesday. Blueprint Medicines Co. has a 52-week low of $43.89 and a 52-week high of $121.90. The company has a quick ratio of 3.65, a current ratio of 3.71 and a debt-to-equity ratio of 1.06. The firm’s fifty day moving average is $103.87 and its 200 day moving average is $99.42. The company has a market cap of $5.79 billion, a price-to-earnings ratio of -19.24 and a beta of 0.63.

Blueprint Medicines (NASDAQ:BPMC) last posted its earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.49. The firm had revenue of $138.20 million for the quarter, compared to the consensus estimate of $104.02 million. Blueprint Medicines had a negative net margin of 56.64% and a negative return on equity of 157.30%. The business’s quarterly revenue was up 139.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($2.19) EPS. Sell-side analysts forecast that Blueprint Medicines Co. will post -3.99 EPS for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

In other news, insider Debra Durso-Bumpus sold 333 shares of Blueprint Medicines stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $111.15, for a total value of $37,012.95. Following the completion of the transaction, the insider now owns 43,763 shares in the company, valued at approximately $4,864,257.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Debra Durso-Bumpus sold 333 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $111.15, for a total value of $37,012.95. Following the completion of the sale, the insider now owns 43,763 shares in the company, valued at approximately $4,864,257.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $3,905,872.47. Following the transaction, the insider now directly owns 34,729 shares of the company’s stock, valued at $3,236,395.51. The disclosure for this sale can be found here. Insiders have sold a total of 128,947 shares of company stock worth $13,065,852 over the last ninety days. Company insiders own 4.21% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Oppenheimer raised their price objective on Blueprint Medicines from $114.00 to $125.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Morgan Stanley lifted their price target on shares of Blueprint Medicines from $110.00 to $115.00 and gave the company an “equal weight” rating in a report on Friday, July 12th. Guggenheim increased their price objective on shares of Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Baird R W upgraded shares of Blueprint Medicines to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 target price on shares of Blueprint Medicines in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Blueprint Medicines currently has a consensus 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.