Bellevue Group AG Buys Shares of 5,100 Blueprint Medicines Co. (NASDAQ:BPMC)

Bellevue Group AG purchased a new stake in Blueprint Medicines Co. (NASDAQ:BPMC) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,100 shares of the biotechnology company’s stock, valued at approximately $484,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of Blueprint Medicines by 15.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,250,823 shares of the biotechnology company’s stock worth $592,954,000 after acquiring an additional 821,868 shares during the period. Norges Bank bought a new stake in shares of Blueprint Medicines during the 4th quarter worth approximately $55,893,000. Vanguard Group Inc. raised its holdings in shares of Blueprint Medicines by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company’s stock worth $598,564,000 after buying an additional 195,007 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Blueprint Medicines by 1,906.0% in the 4th quarter. Victory Capital Management Inc. now owns 131,050 shares of the biotechnology company’s stock valued at $12,088,000 after purchasing an additional 124,517 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Blueprint Medicines during the fourth quarter worth $9,768,000.

Blueprint Medicines Trading Down 2.2 %

NASDAQ BPMC traded down $2.43 during trading on Monday, hitting $109.76. The stock had a trading volume of 219,201 shares, compared to its average volume of 697,557. The stock has a 50 day simple moving average of $108.61 and a 200 day simple moving average of $96.52. Blueprint Medicines Co. has a one year low of $43.89 and a one year high of $121.90. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.61 and a current ratio of 3.76. The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of -22.96 and a beta of 0.63.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Thursday, May 2nd. The biotechnology company reported ($1.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.64) by $0.32. The company had revenue of $96.12 million during the quarter, compared to analyst estimates of $82.58 million. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 193.48%. Sell-side analysts predict that Blueprint Medicines Co. will post -4.67 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Barclays boosted their target price on shares of Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday. Leerink Partnrs raised shares of Blueprint Medicines from an “underperform” rating to a “market perform” rating in a research report on Monday, May 6th. Stephens initiated coverage on Blueprint Medicines in a report on Tuesday, May 14th. They set an “overweight” rating and a $140.00 price objective for the company. JMP Securities reaffirmed a “market outperform” rating and set a $125.00 target price on shares of Blueprint Medicines in a research report on Friday, June 7th. Finally, Wedbush restated an “outperform” rating and issued a $110.00 target price on shares of Blueprint Medicines in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Blueprint Medicines currently has an average rating of “Moderate Buy” and a consensus price target of $118.33.

Insider Buying and Selling at Blueprint Medicines

In other news, insider Percy H. Carter sold 4,000 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $105.13, for a total transaction of $420,520.00. Following the transaction, the insider now owns 41,895 shares of the company’s stock, valued at approximately $4,404,421.35. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Michael Landsittel sold 10,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $105.00, for a total transaction of $1,050,000.00. Following the completion of the transaction, the chief financial officer now owns 47,286 shares in the company, valued at $4,965,030. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Percy H. Carter sold 4,000 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $105.13, for a total transaction of $420,520.00. Following the completion of the transaction, the insider now directly owns 41,895 shares in the company, valued at $4,404,421.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 141,898 shares of company stock worth $14,957,242. 4.21% of the stock is currently owned by insiders.

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.