Clearbridge Investments LLC Has $42.81 Million Stock Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Clearbridge Investments LLC raised its stake in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 490,779 shares of the biotechnology company's stock after purchasing an additional 8,894 shares during the period. Clearbridge Investments LLC owned 0.77% of Blueprint Medicines worth $42,806,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Blueprint Medicines by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 6,774,884 shares of the biotechnology company's stock valued at $590,905,000 after buying an additional 91,450 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Blueprint Medicines by 22.5% in the third quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company's stock valued at $366,726,000 after acquiring an additional 729,055 shares in the last quarter. State Street Corp increased its position in Blueprint Medicines by 16.2% during the third quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company's stock worth $255,827,000 after acquiring an additional 385,818 shares during the period. William Blair Investment Management LLC raised its stake in Blueprint Medicines by 16.1% in the 4th quarter. William Blair Investment Management LLC now owns 1,944,695 shares of the biotechnology company's stock worth $169,616,000 after purchasing an additional 269,896 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Blueprint Medicines by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,480,187 shares of the biotechnology company's stock valued at $136,942,000 after purchasing an additional 20,703 shares during the period.

Remove Ads

Insider Transactions at Blueprint Medicines

In related news, CEO Kate Haviland sold 1,446 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $110.24, for a total transaction of $159,407.04. Following the transaction, the chief executive officer now directly owns 149,378 shares of the company's stock, valued at $16,467,430.72. This represents a 0.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ariel Hurley sold 2,250 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $100.00, for a total transaction of $225,000.00. Following the transaction, the insider now directly owns 14,967 shares in the company, valued at $1,496,700. This trade represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,608 shares of company stock valued at $3,319,587. Corporate insiders own 4.21% of the company's stock.

Blueprint Medicines Trading Down 6.2 %

NASDAQ:BPMC traded down $5.43 on Friday, reaching $81.68. 1,492,586 shares of the stock traded hands, compared to its average volume of 742,386. 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 1-year low of $80.08 and a 1-year high of $121.90. The company's 50 day moving average is $95.52 and its 200-day moving average is $94.03. The firm has a market capitalization of $5.22 billion, a price-to-earnings ratio of -75.63 and a beta of 0.75.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its quarterly earnings data 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%. Equities research analysts anticipate that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.

Analyst Ratings Changes

BPMC has been the topic of a number of recent research reports. Morgan Stanley began coverage on Blueprint Medicines in a research note on Thursday, March 20th. They set an "equal weight" rating and a $100.00 price objective on the stock. Stephens restated an "overweight" rating and set a $140.00 target price on shares of Blueprint Medicines in a research note on Thursday, January 2nd. JPMorgan Chase & Co. lifted their price target on Blueprint Medicines from $126.00 to $129.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. JMP Securities reissued a "market outperform" rating and set a $125.00 price target on shares of Blueprint Medicines in a report on Friday, February 14th. Finally, Guggenheim reaffirmed a "buy" rating on shares of Blueprint Medicines in a research note on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Blueprint Medicines has a consensus rating of "Moderate Buy" and a consensus target price of $124.95.

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.