Blueprint Medicines Co. (NASDAQ:BPMC) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its stake in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 303,432 shares of the biotechnology company's stock after acquiring an additional 7,101 shares during the period. Bank of New York Mellon Corp owned approximately 0.48% of Blueprint Medicines worth $26,465,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of BPMC. Quarry LP purchased a new stake in Blueprint Medicines during the third quarter valued at $32,000. R Squared Ltd bought a new position in shares of Blueprint Medicines in the 4th quarter valued at about $51,000. Covestor Ltd grew its position in Blueprint Medicines by 206.7% in the third quarter. Covestor Ltd now owns 598 shares of the biotechnology company's stock worth $55,000 after acquiring an additional 403 shares in the last quarter. Asset Management One Co. Ltd. bought a new stake in Blueprint Medicines during the fourth quarter worth approximately $88,000. Finally, Van ECK Associates Corp lifted its stake in shares of Blueprint Medicines by 48.2% in the 4th quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company's stock valued at $97,000 after purchasing an additional 363 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts have commented on BPMC shares. Stephens reaffirmed an "overweight" rating and set a $140.00 price objective on shares of Blueprint Medicines in a research note on Thursday, January 2nd. StockNews.com cut shares of Blueprint Medicines from a "hold" rating to a "sell" rating in a research note on Monday, March 3rd. Needham & Company LLC reissued a "buy" rating and issued a $133.00 price objective on shares of Blueprint Medicines in a research report on Thursday, February 13th. HC Wainwright restated a "buy" rating and set a $135.00 target price on shares of Blueprint Medicines in a research report on Friday, February 14th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Blueprint Medicines has an average rating of "Moderate Buy" and an average target price of $125.21.

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Insider Activity

In related news, COO Christina Rossi sold 2,274 shares of the firm's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $95.91, for a total value of $218,099.34. Following the completion of the transaction, the chief operating officer now owns 69,383 shares in the company, valued at $6,654,523.53. This trade represents a 3.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ariel Hurley sold 2,250 shares of the business's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $100.00, for a total value of $225,000.00. Following the sale, the insider now owns 14,967 shares in the company, valued at approximately $1,496,700. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,608 shares of company stock worth $4,668,161 over the last 90 days. 4.21% of the stock is currently owned by corporate insiders.

Blueprint Medicines Stock Down 0.7 %

NASDAQ:BPMC traded down $0.66 during midday trading on Thursday, reaching $89.84. 837,472 shares of the stock traded hands, compared to its average volume of 997,969. The business has a 50-day moving average of $99.46 and a two-hundred day moving average of $94.09. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85. Blueprint Medicines Co. has a 12-month low of $80.68 and a 12-month high of $121.90. The stock has a market capitalization of $5.74 billion, a PE ratio of -83.18 and a beta of 0.58.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share 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 analysts forecast that Blueprint Medicines Co. will post -1.28 earnings per share for the current fiscal 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.