Blueprint Medicines Co. (NASDAQ:BPMC) Shares Bought by State Street Corp

State Street Corp raised its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 16.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,765,702 shares of the biotechnology company's stock after acquiring an additional 385,818 shares during the period. State Street Corp owned approximately 4.35% of Blueprint Medicines worth $255,827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Quarry LP bought a new stake in shares of Blueprint Medicines in the 3rd quarter worth about $32,000. Readystate Asset Management LP purchased a new position in Blueprint Medicines in the third quarter worth about $5,226,000. Ikarian Capital LLC bought a new stake in Blueprint Medicines during the third quarter worth approximately $7,863,000. Jacobs Levy Equity Management Inc. raised its position in Blueprint Medicines by 161.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 496,087 shares of the biotechnology company's stock valued at $45,888,000 after purchasing an additional 306,079 shares during the period. Finally, Cinctive Capital Management LP lifted its stake in shares of Blueprint Medicines by 10.1% in the 3rd quarter. Cinctive Capital Management LP now owns 74,341 shares of the biotechnology company's stock valued at $6,877,000 after purchasing an additional 6,839 shares during the last quarter.

Insider Buying and Selling

In other news, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $95.10, for a total value of $216,257.40. Following the transaction, the chief operating officer now owns 71,657 shares of the company's stock, valued at $6,814,580.70. The trade was a 3.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Fouad Namouni sold 3,633 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total transaction of $324,499.56. Following the sale, the insider now directly owns 69,070 shares of the company's stock, valued at $6,169,332.40. The trade was a 5.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,260 shares of company stock worth $768,057 in the last three months. 4.21% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on BPMC. Guggenheim reissued a "buy" rating on shares of Blueprint Medicines in a research report on Wednesday. JMP Securities reiterated a "market outperform" rating and set a $125.00 price objective on shares of Blueprint Medicines in a research report on Monday. Wedbush restated an "outperform" rating and issued a $135.00 target price on shares of Blueprint Medicines in a report on Thursday, November 14th. UBS Group started coverage on shares of Blueprint Medicines in a report on Thursday, October 24th. They set a "neutral" rating and a $88.00 price target on the stock. Finally, Needham & Company LLC reissued a "buy" rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $122.11.

Blueprint Medicines Stock Down 2.0 %

Shares of NASDAQ:BPMC traded down $1.89 during trading hours on Thursday, hitting $92.58. The company's stock had a trading volume of 1,148,838 shares, compared to its average volume of 686,494. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. The firm's fifty day moving average price is $91.94 and its 200 day moving average price is $97.59. Blueprint Medicines Co. has a 52 week low of $72.24 and a 52 week high of $121.90. The company has a market capitalization of $5.88 billion, a price-to-earnings ratio of -43.88 and a beta of 0.59.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, topping analysts' consensus estimates of ($0.97) by $0.08. The company had revenue of $128.20 million during the quarter, compared to the consensus estimate of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. Blueprint Medicines's revenue for the quarter was up 126.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($2.20) earnings per share. As a group, research analysts expect that Blueprint Medicines Co. will post -3.68 EPS for the current 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.