Fifth Third Bancorp Boosts Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Fifth Third Bancorp increased its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 207.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,075 shares of the biotechnology company’s stock after buying an additional 2,075 shares during the period. Fifth Third Bancorp’s holdings in Blueprint Medicines were worth $268,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in shares of Blueprint Medicines by 22.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company’s stock valued at $366,726,000 after acquiring an additional 729,055 shares during the last quarter. State Street Corp boosted its holdings in Blueprint Medicines by 16.2% in the third quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock valued at $255,827,000 after purchasing an additional 385,818 shares in the last quarter. Geode Capital Management LLC increased its stake in Blueprint Medicines by 1.4% in 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 purchasing an additional 20,703 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Blueprint Medicines by 9.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 597,232 shares of the biotechnology company’s stock valued at $55,244,000 after purchasing an additional 50,736 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Blueprint Medicines by 161.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 496,087 shares of the biotechnology company’s stock worth $45,888,000 after purchasing an additional 306,079 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BPMC shares. UBS Group assumed coverage on Blueprint Medicines in a report on Thursday, October 24th. They issued a “neutral” rating and a $88.00 price objective for the company. Piper Sandler increased their price target on shares of Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Wells Fargo & Company lowered their price objective on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Guggenheim reaffirmed a “buy” rating on shares of Blueprint Medicines in a report on Wednesday, December 11th. Finally, JMP Securities reissued a “market outperform” rating and set a $125.00 price target on shares of Blueprint Medicines in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $123.56.

Blueprint Medicines Stock Performance

Blueprint Medicines stock opened at $112.53 on Friday. 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 current ratio of 3.32 and a quick ratio of 3.27. The stock has a fifty day moving average price of $97.78 and a two-hundred day moving average price of $95.35. The firm has a market capitalization of $7.15 billion, a P/E ratio of -53.33 and a beta of 0.61.

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

Insiders Place Their Bets

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $95.10, for a total value of $216,257.40. Following the sale, the chief operating officer now directly owns 71,657 shares in the company, valued at approximately $6,814,580.70. The trade was a 3.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kate Haviland sold 1,446 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $110.24, for a total value of $159,407.04. Following the transaction, the chief executive officer now directly owns 149,378 shares of the company’s stock, valued at $16,467,430.72. This trade represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,851 shares of company stock worth $4,984,696. Corporate insiders own 4.21% of the company’s stock.

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.