Blueprint Medicines Co. (NASDAQ:BPMC) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System increased its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 2.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,285 shares of the biotechnology company’s stock after purchasing an additional 414 shares during the quarter. Arizona State Retirement System’s holdings in Blueprint Medicines were worth $1,755,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Triad Wealth Partners LLC purchased a new position in Blueprint Medicines during the second quarter worth about $27,000. Covestor Ltd increased its holdings in Blueprint Medicines by 9,700.0% in the 1st quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 291 shares during the last quarter. Headlands Technologies LLC raised its position in Blueprint Medicines by 105.2% in the first 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 period. Natixis acquired a new position in Blueprint Medicines during the first quarter worth $73,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Blueprint Medicines during the fourth quarter worth $95,000.

Insider Buying and Selling at Blueprint Medicines

In other news, insider Philina Lee sold 41,913 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 34,729 shares in the company, valued at $3,236,395.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Blueprint Medicines 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 sale, the insider now owns 43,763 shares of the company’s stock, valued at approximately $4,864,257.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Philina Lee sold 41,913 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 34,729 shares in the company, valued at approximately $3,236,395.51. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 128,947 shares of company stock worth $13,065,852. 4.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BPMC has been the topic of several research reports. Oppenheimer increased their target price on Blueprint Medicines from $114.00 to $125.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. JMP Securities reissued a “market outperform” rating and set a $125.00 price target on shares of Blueprint Medicines in a research report on Friday, June 7th. Baird R W upgraded shares of Blueprint Medicines to a “strong-buy” rating in a report on Friday, August 2nd. Barclays increased their target price on shares of Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Finally, Morgan Stanley raised their price target on shares of Blueprint Medicines from $110.00 to $115.00 and gave the company an “equal weight” rating in a research report on Friday, July 12th. One equities research analyst has 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $120.00.

Blueprint Medicines Price Performance

BPMC stock opened at $86.56 on Thursday. The company has a current ratio of 3.71, a quick ratio of 3.65 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $5.48 billion, a P/E ratio of -18.00 and a beta of 0.58. The business has a 50 day simple moving average of $101.48 and a 200-day simple moving average of $99.32. Blueprint Medicines Co. has a twelve month low of $43.89 and a twelve month high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last announced 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. The business had revenue of $138.20 million during 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($2.19) earnings per share. As a group, equities analysts anticipate that Blueprint Medicines Co. will post -3.99 EPS for the current year.

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.