Federated Hermes Inc. Buys Shares of 24,043 Blueprint Medicines Co. (NASDAQ:BPMC)

Federated Hermes Inc. bought a new stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 24,043 shares of the biotechnology company’s stock, valued at approximately $2,218,000.

Several other hedge funds have also bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in Blueprint Medicines by 0.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,414 shares of the biotechnology company’s stock valued at $3,451,000 after purchasing an additional 145 shares during the last quarter. Diversified Trust Co lifted its holdings in shares of Blueprint Medicines by 2.9% in the 3rd quarter. Diversified Trust Co now owns 11,219 shares of the biotechnology company’s stock worth $563,000 after acquiring an additional 318 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Blueprint Medicines by 63.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock worth $43,000 after acquiring an additional 329 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Blueprint Medicines by 2.5% in the 3rd quarter. Los Angeles Capital Management LLC now owns 14,493 shares of the biotechnology company’s stock worth $728,000 after acquiring an additional 355 shares during the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Blueprint Medicines by 2.2% in the 3rd quarter. Arizona State Retirement System now owns 17,217 shares of the biotechnology company’s stock worth $865,000 after acquiring an additional 369 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $114.00 target price on shares of Blueprint Medicines in a research note on Wednesday, April 10th. Barclays lifted their target price on shares of Blueprint Medicines from $58.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 13th. Wedbush reaffirmed an “outperform” rating and issued a $110.00 target price on shares of Blueprint Medicines in a research note on Friday. Stifel Nicolaus lifted their target price on shares of Blueprint Medicines from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Needham & Company LLC reissued a “buy” rating and set a $97.00 price objective on shares of Blueprint Medicines in a research report on Friday. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $91.57.

Insider Buying and Selling

In related news, insider Christopher K. Murray sold 5,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $100.00, for a total value of $500,000.00. Following the transaction, the insider now owns 24,495 shares in the company, valued at approximately $2,449,500. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Jeffrey W. Albers sold 25,073 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $87.28, for a total value of $2,188,371.44. Following the completion of the sale, the director now directly owns 176,050 shares of the company’s stock, valued at approximately $15,365,644. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher K. Murray sold 5,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $100.00, for a total transaction of $500,000.00. Following the completion of the sale, the insider now directly owns 24,495 shares of the company’s stock, valued at $2,449,500. The disclosure for this sale can be found here. Insiders have sold a total of 92,289 shares of company stock worth $8,314,163 in the last quarter. Corporate insiders own 3.88% of the company’s stock.

Blueprint Medicines Stock Up 2.5 %

NASDAQ:BPMC opened at $93.00 on Monday. The firm’s 50-day moving average price is $90.79 and its 200-day moving average price is $79.20. The company has a market capitalization of $5.69 billion, a PE ratio of -11.12 and a beta of 0.63. The company has a debt-to-equity ratio of 1.60, a current ratio of 3.76 and a quick ratio of 3.66. Blueprint Medicines Co. has a 1-year low of $43.89 and a 1-year high of $101.00.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.04) by $0.22. The company had revenue of $71.96 million for the quarter, compared to analysts’ expectations of $67.34 million. Blueprint Medicines had a negative net margin of 203.30% and a negative return on equity of 191.56%. Blueprint Medicines’s revenue was up 85.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($2.65) EPS. On average, equities analysts predict that Blueprint Medicines Co. will post -5.41 EPS for the current fiscal year.

About Blueprint Medicines

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.