M&G Plc Buys Shares of 97,861 Blueprint Medicines Co. (NASDAQ:BPMC)

M&G PLC bought a new stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 97,861 shares of the biotechnology company's stock, valued at approximately $9,101,000. M&G PLC owned approximately 0.16% of Blueprint Medicines as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC purchased a new position in shares of Blueprint Medicines during the first quarter valued at about $474,000. Hsbc Holdings PLC purchased a new position in Blueprint Medicines during the 2nd quarter valued at approximately $1,060,000. Comerica Bank increased its stake in Blueprint Medicines by 2,582.9% in the 1st quarter. Comerica Bank now owns 10,839 shares of the biotechnology company's stock worth $1,028,000 after acquiring an additional 10,435 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Blueprint Medicines by 27.8% during the 2nd quarter. Federated Hermes Inc. now owns 62,354 shares of the biotechnology company's stock worth $6,721,000 after acquiring an additional 13,579 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Blueprint Medicines by 82.8% during the 2nd quarter. SG Americas Securities LLC now owns 21,684 shares of the biotechnology company's stock worth $2,337,000 after acquiring an additional 9,819 shares in the last quarter.

Blueprint Medicines Trading Down 0.6 %

Shares of NASDAQ:BPMC traded down $0.56 during trading on Friday, reaching $100.83. 625,068 shares of the company were exchanged, compared to its average volume of 696,243. The business's fifty day simple moving average is $89.21 and its 200-day simple moving average is $98.74. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. Blueprint Medicines Co. has a 12-month low of $56.74 and a 12-month high of $121.90. The firm has a market capitalization of $6.41 billion, a PE ratio of -47.79 and a beta of 0.59.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.08. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The company had revenue of $128.20 million for the quarter, compared to the consensus estimate of $127.56 million. During the same period last year, the business posted ($2.20) EPS. Blueprint Medicines's quarterly revenue was up 126.5% on a year-over-year basis. On average, research analysts anticipate that Blueprint Medicines Co. will post -3.61 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on BPMC. Needham & Company LLC reissued a "buy" rating and issued a $133.00 target price on shares of Blueprint Medicines in a report on Wednesday, October 30th. Wells Fargo & Company decreased their target price on shares of Blueprint Medicines from $153.00 to $151.00 and set an "overweight" rating on the stock in a research report on Thursday, October 31st. HC Wainwright reiterated a "buy" rating and issued a $135.00 price target on shares of Blueprint Medicines in a research report on Thursday, October 31st. Baird R W raised Blueprint Medicines to a "strong-buy" rating in a research note on Friday, August 2nd. Finally, Robert W. Baird raised their price objective on Blueprint Medicines from $112.00 to $127.00 and gave the company an "outperform" rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $120.39.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total transaction of $324,499.56. Following the transaction, the insider now directly owns 69,070 shares in the company, valued at $6,169,332.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.21% of the stock is currently owned by corporate 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.