Blueprint Medicines Co. (NASDAQ:BPMC) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 2,680.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 142,717 shares of the biotechnology company's stock after buying an additional 137,585 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.22% of Blueprint Medicines worth $12,448,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Empirical Asset Management LLC purchased a new stake in Blueprint Medicines in the 4th quarter worth about $2,348,000. Stephens Inc. AR acquired a new position in Blueprint Medicines during the fourth quarter valued at approximately $321,000. Massachusetts Financial Services Co. MA lifted its position in shares of Blueprint Medicines by 48.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 252,236 shares of the biotechnology company's stock worth $23,332,000 after purchasing an additional 82,693 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Blueprint Medicines by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 303,432 shares of the biotechnology company's stock valued at $26,465,000 after purchasing an additional 7,101 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of Blueprint Medicines by 63.9% in the fourth quarter. KBC Group NV now owns 2,625 shares of the biotechnology company's stock valued at $229,000 after buying an additional 1,023 shares during the period.

Analysts Set New Price Targets

BPMC has been the subject of several recent research reports. Scotiabank started coverage on shares of Blueprint Medicines in a research report on Friday, March 7th. They issued a "sector outperform" rating and a $150.00 price target for the company. Stephens reiterated an "overweight" rating and set a $140.00 target price on shares of Blueprint Medicines in a report on Thursday, January 2nd. JPMorgan Chase & Co. boosted their target price on shares of Blueprint Medicines from $126.00 to $129.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Wedbush restated an "outperform" rating and issued a $128.00 price target on shares of Blueprint Medicines in a research note on Friday, February 28th. Finally, StockNews.com downgraded shares of Blueprint Medicines from a "hold" rating to a "sell" rating in a research report on Monday, March 3rd. Two 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 data from MarketBeat.com, Blueprint Medicines has an average rating of "Moderate Buy" and an average price target of $125.70.

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Blueprint Medicines Trading Up 1.0 %

Blueprint Medicines stock traded up $0.89 during midday trading on Wednesday, reaching $90.48. 1,943,865 shares of the stock traded hands, compared to its average volume of 712,118. The firm has a market cap of $5.78 billion, a PE ratio of -83.78 and a beta of 0.58. Blueprint Medicines Co. has a 12-month low of $80.68 and a 12-month high of $121.90. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. The company has a 50-day simple moving average of $99.49 and a two-hundred day simple moving average of $93.99.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its quarterly earnings data 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 net margin of 13.19% and a negative return on equity of 77.49%. Research analysts expect that Blueprint Medicines Co. will post -1.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Ariel Hurley sold 2,250 shares of the company's stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $100.00, for a total value of $225,000.00. Following the completion of the sale, the insider now owns 14,967 shares of the company's stock, valued at $1,496,700. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey W. Albers sold 15,161 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $109.53, for a total value of $1,660,584.33. Following the sale, the director now owns 152,396 shares of the company's stock, valued at approximately $16,691,933.88. This trade represents a 9.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,334 shares of company stock valued at $4,450,062. 4.21% of the stock is owned by company insiders.

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.