Invesco Ltd. Acquires 60,081 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Invesco Ltd. increased its position in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 6.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 960,437 shares of the biotechnology company's stock after buying an additional 60,081 shares during the quarter. Invesco Ltd. owned about 1.51% of Blueprint Medicines worth $83,769,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Cerity Partners LLC purchased a new position in shares of Blueprint Medicines during the fourth quarter valued at $291,000. Federated Hermes Inc. raised its stake in Blueprint Medicines by 1.9% during the fourth quarter. Federated Hermes Inc. now owns 156,284 shares of the biotechnology company's stock worth $13,631,000 after acquiring an additional 2,983 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Blueprint Medicines by 15.5% during the 4th quarter. Russell Investments Group Ltd. now owns 125,902 shares of the biotechnology company's stock worth $10,981,000 after purchasing an additional 16,874 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Blueprint Medicines by 13.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 32,115 shares of the biotechnology company's stock valued at $2,801,000 after acquiring an additional 3,723 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Blueprint Medicines in the fourth quarter worth $212,000.

Insider Activity

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 15,161 shares of Blueprint Medicines 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 transaction, the director now directly owns 152,396 shares of the company's stock, valued at approximately $16,691,933.88. The trade was a 9.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kate Haviland sold 1,446 shares of Blueprint Medicines stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total value 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 approximately $16,467,430.72. This represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,358 shares of company stock worth $2,583,187. Corporate insiders own 4.21% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on BPMC shares. Scotiabank began coverage on shares of Blueprint Medicines in a report on Friday, March 7th. They issued a "sector outperform" rating and a $150.00 price target for the company. Needham & Company LLC restated a "buy" rating and issued a $133.00 price target on shares of Blueprint Medicines in a report on Tuesday, April 8th. Wedbush reissued an "outperform" rating and issued a $128.00 price target on shares of Blueprint Medicines in a research note on Wednesday. Jefferies Financial Group began coverage on shares of Blueprint Medicines in a research report on Monday, March 17th. They issued a "buy" rating and a $135.00 price objective on the stock. Finally, Piper Sandler raised their price target on Blueprint Medicines from $109.00 to $119.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $124.95.

Blueprint Medicines Stock Performance

Shares of BPMC traded up $2.51 during mid-day trading on Friday, hitting $84.62. 634,400 shares of the company's stock were exchanged, compared to its average volume of 768,669. The stock's 50-day simple moving average is $88.95 and its 200-day simple moving average is $93.26. The firm has a market cap of $5.41 billion, a price-to-earnings ratio of -78.35 and a beta of 0.75. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15. Blueprint Medicines Co. has a 52 week low of $73.04 and a 52 week high of $121.90.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted 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, equities research analysts expect that Blueprint Medicines Co. will post -1.28 EPS for the current year.

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.