Rhumbline Advisers Has $8.14 Million Stake in Blueprint Medicines Co. (NASDAQ:BPMC)

Rhumbline Advisers boosted its position in shares of Blueprint Medicines Co. (NASDAQ:BPMCFree Report) by 6.2% in the first quarter, Holdings Channel reports. The fund owned 91,933 shares of the biotechnology company’s stock after acquiring an additional 5,402 shares during the period. Rhumbline Advisers’ holdings in Blueprint Medicines were worth $8,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Cerity Partners LLC bought a new stake in shares of Blueprint Medicines in the fourth quarter valued at about $291,000. Stephens Inc. AR bought a new stake in Blueprint Medicines during the 4th quarter worth approximately $321,000. Bank of New York Mellon Corp grew its position in Blueprint Medicines by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 303,432 shares of the biotechnology company’s stock worth $26,465,000 after acquiring an additional 7,101 shares during the last quarter. Raymond James Financial Inc. bought a new position in Blueprint Medicines in the 4th quarter valued at $21,104,000. Finally, PNC Financial Services Group Inc. boosted its position in Blueprint Medicines by 31.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,650 shares of the biotechnology company’s stock valued at $144,000 after buying an additional 399 shares during the last quarter.

Wall Street Analyst Weigh In

BPMC has been the topic of several recent research reports. Needham & Company LLC lowered Blueprint Medicines from a “buy” rating to a “hold” rating and set a $130.00 price target on the stock. in a research report on Monday, June 2nd. HC Wainwright reaffirmed a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a research note on Friday, May 2nd. JMP Securities reaffirmed a “market perform” rating on shares of Blueprint Medicines in a research note on Tuesday, June 3rd. Cowen downgraded Blueprint Medicines to a “hold” rating in a research note on Monday, June 2nd. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $129.00 price objective (down previously from $130.00) on shares of Blueprint Medicines in a research note on Monday, June 2nd. Seventeen research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $129.35.

Check Out Our Latest Stock Analysis on BPMC

Blueprint Medicines Price Performance

Shares of NASDAQ BPMC opened at $127.97 on Wednesday. The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of -118.49 and a beta of 0.84. The business has a 50-day moving average of $97.16 and a 200-day moving average of $96.33. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80. Blueprint Medicines Co. has a fifty-two week low of $73.04 and a fifty-two week high of $128.24.

Blueprint Medicines (NASDAQ:BPMCGet Free Report) last announced its quarterly earnings data on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.32). The company had revenue of $149.41 million during the quarter, compared to the consensus estimate of $158.31 million. Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. Blueprint Medicines’s revenue was up 55.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.40 EPS. As a group, sell-side analysts predict that Blueprint Medicines Co. will post -1.28 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Ariel Hurley sold 2,752 shares of Blueprint Medicines stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $103.13, for a total transaction of $283,813.76. Following the completion of the transaction, the insider now owns 16,944 shares in the company, valued at approximately $1,747,434.72. This trade represents a 13.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $101.75, for a total value of $231,379.50. Following the transaction, the chief operating officer now owns 66,992 shares of the company’s stock, valued at $6,816,436. The trade was a 3.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,574 shares of company stock worth $1,465,528 in the last quarter. Corporate insiders own 4.21% of the company’s stock.

Blueprint Medicines Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Blueprint Medicines (NASDAQ:BPMC)

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