Blueprint Medicines Co. (NASDAQ:BPMC) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its stake in Blueprint Medicines Co. (NASDAQ:BPMC) by 40.7% during the third quarter, Holdings Channel.com reports. The fund owned 3,206 shares of the biotechnology company’s stock after purchasing an additional 927 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Blueprint Medicines were worth $297,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Teamwork Financial Advisors LLC acquired a new stake in Blueprint Medicines in the 3rd quarter worth about $250,000. NBC Securities Inc. raised its holdings in shares of Blueprint Medicines by 748.9% during the third quarter. NBC Securities Inc. now owns 2,725 shares of the biotechnology company’s stock valued at $252,000 after acquiring an additional 2,404 shares during the last quarter. Creative Planning raised its stake in Blueprint Medicines by 6.8% in the 3rd quarter. Creative Planning now owns 13,194 shares of the biotechnology company’s stock valued at $1,220,000 after purchasing an additional 843 shares during the last quarter. Essex Investment Management Co. LLC purchased a new position in shares of Blueprint Medicines in the third quarter worth about $3,280,000. Finally, Clarus Wealth Advisors grew its stake in Blueprint Medicines by 8.6% during the 3rd quarter. Clarus Wealth Advisors now owns 2,590 shares of the biotechnology company’s stock valued at $231,000 after acquiring an additional 206 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. StockNews.com lowered shares of Blueprint Medicines from a “hold” rating to a “sell” rating in a research note on Thursday. Morgan Stanley boosted their price objective on Blueprint Medicines from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Friday, July 12th. Wells Fargo & Company reduced their target price on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a research note on Thursday. Barclays increased their price target on shares of Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a research report on Thursday. Two equities research analysts have 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.39.

Insider Buying and Selling at Blueprint Medicines

In other news, 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 value of $3,905,872.47. Following the sale, the insider now directly owns 34,729 shares in the company, valued at approximately $3,236,395.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total transaction of $324,499.56. Following the completion of the transaction, the insider now owns 69,070 shares in the company, valued at $6,169,332.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Philina Lee sold 41,913 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.21% of the stock is currently owned by corporate insiders.

Blueprint Medicines Stock Performance

Shares of Blueprint Medicines stock opened at $90.70 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.71 and a quick ratio of 3.65. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of -42.99 and a beta of 0.58. The business has a 50-day moving average of $88.79 and a 200 day moving average of $98.39. Blueprint Medicines Co. has a 12 month low of $56.74 and a 12 month high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.08. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 118.86%. The firm had revenue of $128.20 million during the quarter, compared to analysts’ expectations of $127.56 million. During the same quarter in the previous year, the business posted ($2.20) earnings per share. The business’s quarterly revenue was up 126.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Blueprint Medicines Co. will post -3.82 earnings per share for the current year.

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.