241,966 Shares in Blueprint Medicines Co. (NASDAQ:BPMC) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 241,966 shares of the biotechnology company's stock, valued at approximately $21,104,000. Raymond James Financial Inc. owned about 0.38% of Blueprint Medicines as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Empirical Asset Management LLC purchased a new position in shares of Blueprint Medicines during the fourth quarter worth approximately $2,348,000. Stephens Inc. AR purchased a new position in shares of Blueprint Medicines during the fourth quarter worth approximately $321,000. Massachusetts Financial Services Co. MA grew its position in shares of Blueprint Medicines by 48.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 252,236 shares of the biotechnology company's stock worth $23,332,000 after acquiring an additional 82,693 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Blueprint Medicines by 2.4% during the fourth 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. Finally, KBC Group NV grew its position in shares of Blueprint Medicines by 63.9% during the fourth quarter. KBC Group NV now owns 2,625 shares of the biotechnology company's stock worth $229,000 after acquiring an additional 1,023 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BPMC. JPMorgan Chase & Co. raised their target price on shares of Blueprint Medicines from $126.00 to $129.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Jefferies Financial Group began coverage on shares of Blueprint Medicines in a research report on Monday. They set a "buy" rating and a $135.00 target price on the stock. Needham & Company LLC restated a "buy" rating and set a $133.00 target price on shares of Blueprint Medicines in a research report on Thursday, February 13th. Piper Sandler increased their price target on Blueprint Medicines from $109.00 to $119.00 and gave the stock a "neutral" rating in a report on Monday, January 27th. Finally, StockNews.com downgraded Blueprint Medicines from a "hold" rating to a "sell" rating in a report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $124.95.

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Insider Transactions at Blueprint Medicines

In related news, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $110.14, for a total transaction of $250,458.36. Following the completion of the sale, the chief operating officer now owns 67,109 shares in the company, valued at approximately $7,391,385.26. This trade represents a 3.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ariel Hurley sold 3,203 shares of Blueprint Medicines stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.62, for a total value of $296,661.86. Following the sale, the insider now owns 18,270 shares of the company's stock, valued at approximately $1,692,167.40. This represents a 14.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,334 shares of company stock valued at $3,103,512 in the last 90 days. 4.21% of the stock is currently owned by insiders.

Blueprint Medicines Price Performance

Shares of NASDAQ:BPMC traded down $2.01 during midday trading on Thursday, hitting $88.47. 662,152 shares of the stock were exchanged, compared to its average volume of 708,375. The stock has a market cap of $5.65 billion, a P/E ratio of -81.92 and a beta of 0.58. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. Blueprint Medicines Co. has a twelve month low of $80.68 and a twelve month high of $121.90. The company has a 50 day moving average price of $99.49 and a 200-day moving average price of $93.96.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. On average, research analysts forecast that Blueprint Medicines Co. will post -1.28 earnings per share for the current year.

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.