Franklin Resources Inc. Has $3.26 Million Stake in Blueprint Medicines Co. (NASDAQ:BPMC)

Franklin Resources Inc. boosted its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 0.7% during the third quarter, Holdings Channel reports. The institutional investor owned 36,761 shares of the biotechnology company’s stock after acquiring an additional 265 shares during the quarter. Franklin Resources Inc.’s holdings in Blueprint Medicines were worth $3,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Synovus Financial Corp grew its stake in shares of Blueprint Medicines by 4.0% in the 3rd quarter. Synovus Financial Corp now owns 24,047 shares of the biotechnology company’s stock valued at $2,224,000 after purchasing an additional 922 shares during the period. Sanctuary Advisors LLC bought a new stake in Blueprint Medicines in the third quarter valued at $202,000. Teachers Retirement System of The State of Kentucky raised its stake in Blueprint Medicines by 23.7% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 16,520 shares of the biotechnology company’s stock worth $1,528,000 after acquiring an additional 3,162 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Blueprint Medicines by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,480,187 shares of the biotechnology company’s stock valued at $136,942,000 after acquiring an additional 20,703 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its stake in shares of Blueprint Medicines by 13.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 22,557 shares of the biotechnology company’s stock valued at $2,087,000 after purchasing an additional 2,741 shares in the last quarter.

Insider Transactions at Blueprint Medicines

In other news, insider Ariel Hurley sold 1,819 shares of Blueprint Medicines stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $93.26, for a total transaction of $169,639.94. Following the transaction, the insider now directly owns 14,967 shares of the company’s stock, valued at $1,395,822.42. This trade represents a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kate Haviland sold 2,353 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $96.60, for a total transaction of $227,299.80. Following the completion of the transaction, the chief executive officer now directly owns 150,824 shares of the company’s stock, valued at $14,569,598.40. This trade represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,353 shares of company stock worth $2,502,346. 4.21% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on BPMC. Guggenheim reiterated a “buy” rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. JPMorgan Chase & Co. started coverage on shares of Blueprint Medicines in a research note on Thursday, November 14th. They issued an “overweight” rating and a $126.00 target price for the company. Wedbush restated an “outperform” rating and set a $135.00 price target on shares of Blueprint Medicines in a research report on Thursday, November 14th. Needham & Company LLC reiterated a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research report on Friday, November 15th. Finally, UBS Group started coverage on Blueprint Medicines in a report on Thursday, October 24th. They set a “neutral” rating and a $88.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.33.

Blueprint Medicines Price Performance

BPMC opened at $90.46 on Thursday. The company has a fifty day moving average price of $92.56 and a two-hundred day moving average price of $96.80. The firm has a market capitalization of $5.75 billion, a PE ratio of -42.87 and a beta of 0.59. Blueprint Medicines Co. has a 52 week low of $72.24 and a 52 week high of $121.90. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.08. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The business had revenue of $128.20 million during the quarter, compared to analysts’ expectations of $127.56 million. During the same period in the previous year, the firm earned ($2.20) earnings per share. The firm’s quarterly revenue was up 126.5% compared to the same quarter last year. As a group, analysts anticipate that Blueprint Medicines Co. will post -3.68 earnings per share for the current year.

Blueprint Medicines 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.