Federated Hermes Inc. Buys 13,579 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Federated Hermes Inc. raised its stake in Blueprint Medicines Co. (NASDAQ:BPMC) by 27.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 62,354 shares of the biotechnology company’s stock after purchasing an additional 13,579 shares during the quarter. Federated Hermes Inc.’s holdings in Blueprint Medicines were worth $6,721,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BPMC. Gilbert & Cook Inc. lifted its position in Blueprint Medicines by 8.5% in the fourth quarter. Gilbert & Cook Inc. now owns 4,846 shares of the biotechnology company’s stock valued at $447,000 after purchasing an additional 380 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Blueprint Medicines by 1.7% during the fourth quarter. Principal Financial Group Inc. now owns 14,510 shares of the biotechnology company’s stock valued at $1,338,000 after acquiring an additional 247 shares in the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in shares of Blueprint Medicines during the fourth quarter valued at approximately $321,000. Norges Bank bought a new position in shares of Blueprint Medicines during the fourth quarter valued at approximately $55,893,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Blueprint Medicines during the fourth quarter valued at approximately $95,000.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BPMC shares. Robert W. Baird upped their target price on Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and set a $130.00 target price on shares of Blueprint Medicines in a report on Thursday, August 1st. Morgan Stanley upped their target price on Blueprint Medicines from $110.00 to $115.00 and gave the company an “equal weight” rating in a report on Friday, July 12th. Oppenheimer upped their price target on Blueprint Medicines from $114.00 to $125.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Finally, Baird R W raised Blueprint Medicines to a “strong-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 given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $120.00.

Blueprint Medicines Trading Up 0.2 %

Blueprint Medicines stock opened at $86.51 on Wednesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.71 and a quick ratio of 3.65. Blueprint Medicines Co. has a one year low of $43.89 and a one year high of $121.90. The stock has a market capitalization of $5.42 billion, a PE ratio of -17.99 and a beta of 0.58. The business’s fifty day moving average is $99.93 and its 200 day moving average is $99.14.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($1.29) by $0.49. Blueprint Medicines had a negative return on equity of 157.30% and a negative net margin of 56.64%. The company had revenue of $138.20 million for the quarter, compared to analysts’ expectations of $104.02 million. During the same period last year, the firm posted ($2.19) earnings per share. Blueprint Medicines’s revenue was up 139.9% compared to the same quarter last year. On average, sell-side analysts predict that Blueprint Medicines Co. will post -3.99 EPS for the current year.

Insider Buying and Selling at Blueprint Medicines

In other news, insider Debra Durso-Bumpus sold 8,817 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $111.29, for a total value of $981,243.93. Following 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 Securities & Exchange Commission, which can be accessed through this link. In related news, insider Philina Lee sold 41,913 shares of the 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 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 accessible through the SEC website. Also, insider Debra Durso-Bumpus sold 8,817 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 43,763 shares of the company’s stock, valued at approximately $4,870,384.27. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 128,947 shares of company stock valued at $13,065,852. 4.21% of the stock is owned by company insiders.

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.