Blueprint Medicines Co. (NASDAQ:BPMC) Shares Acquired by Clearbridge Investments LLC

Clearbridge Investments LLC lifted its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 490,779 shares of the biotechnology company’s stock after purchasing an additional 8,894 shares during the period. Clearbridge Investments LLC’s holdings in Blueprint Medicines were worth $42,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Blueprint Medicines by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 6,774,884 shares of the biotechnology company’s stock valued at $590,905,000 after purchasing an additional 91,450 shares during the period. Wellington Management Group LLP lifted its position in shares of Blueprint Medicines by 22.5% during 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 buying an additional 729,055 shares in the last quarter. State Street Corp grew its stake in Blueprint Medicines by 16.2% in the 3rd quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock valued at $255,827,000 after acquiring an additional 385,818 shares during the period. William Blair Investment Management LLC increased its holdings in Blueprint Medicines by 16.1% in the 4th quarter. William Blair Investment Management LLC now owns 1,944,695 shares of the biotechnology company’s stock worth $169,616,000 after acquiring an additional 269,896 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in 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 purchasing an additional 20,703 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms have recently commented on BPMC. HC Wainwright reissued a “buy” rating and set a $135.00 target price on shares of Blueprint Medicines in a research note on Friday, February 14th. Stephens reissued an “overweight” rating and set a $140.00 target price on shares of Blueprint Medicines in a report on Thursday, January 2nd. StockNews.com lowered Blueprint Medicines from a “hold” rating to a “sell” rating in a research note on Monday, March 3rd. Wedbush reissued an “outperform” rating and issued a $128.00 price objective on shares of Blueprint Medicines in a research note on Friday, February 28th. Finally, Jefferies Financial Group assumed coverage on shares of Blueprint Medicines in a research note on Monday, March 17th. They set a “buy” rating and a $135.00 target price on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Blueprint Medicines has an average rating of “Moderate Buy” and a consensus price target of $124.95.

Blueprint Medicines Price Performance

Shares of BPMC opened at $85.94 on Wednesday. The firm has a 50-day simple moving average of $97.17 and a two-hundred day simple moving average of $94.05. The stock has a market cap of $5.49 billion, a PE ratio of -79.57 and a beta of 0.58. Blueprint Medicines Co. has a 1-year low of $80.68 and a 1-year high of $121.90. 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 (NASDAQ:BPMC) last posted its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. As a group, analysts forecast that Blueprint Medicines Co. will post -1.28 EPS for the current year.

Insider Activity

In related news, CEO Kate Haviland sold 1,446 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total transaction of $159,407.04. Following the completion of the transaction, the chief executive officer now directly owns 149,378 shares in the company, valued at $16,467,430.72. This trade represents a 0.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeffrey W. Albers sold 15,161 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $109.53, for a total transaction of $1,660,584.33. Following the sale, the director now owns 152,396 shares in the company, valued at $16,691,933.88. This trade represents a 9.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,608 shares of company stock valued at $3,319,587. 4.21% of the stock is currently owned by corporate insiders.

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.