Massachusetts Financial Services Co. MA Has $23.33 Million Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Massachusetts Financial Services Co. MA increased its stake in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 48.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 252,236 shares of the biotechnology company's stock after acquiring an additional 82,693 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.40% of Blueprint Medicines worth $23,332,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Amalgamated Bank boosted its position in shares of Blueprint Medicines by 5.3% in the 2nd quarter. Amalgamated Bank now owns 2,154 shares of the biotechnology company's stock valued at $232,000 after purchasing an additional 109 shares during the period. Van ECK Associates Corp increased its position in shares of Blueprint Medicines by 13.3% in the second quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company's stock worth $120,000 after acquiring an additional 131 shares in the last quarter. EFG Asset Management North America Corp. raised its holdings in shares of Blueprint Medicines by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 27,884 shares of the biotechnology company's stock valued at $3,008,000 after acquiring an additional 132 shares during the period. Pallas Capital Advisors LLC lifted its position in shares of Blueprint Medicines by 3.2% in the 3rd quarter. Pallas Capital Advisors LLC now owns 5,657 shares of the biotechnology company's stock valued at $523,000 after acquiring an additional 176 shares in the last quarter. Finally, Clarus Wealth Advisors boosted its stake in Blueprint Medicines by 8.6% in the 3rd quarter. Clarus Wealth Advisors now owns 2,590 shares of the biotechnology company's stock worth $231,000 after purchasing an additional 206 shares during the period.

Blueprint Medicines Trading Up 0.8 %

Shares of BPMC stock traded up $0.76 on Tuesday, reaching $94.63. 516,485 shares of the stock were exchanged, compared to its average volume of 692,133. The stock has a market cap of $6.01 billion, a PE ratio of -44.85 and a beta of 0.59. Blueprint Medicines Co. has a one year low of $67.00 and a one year high of $121.90. 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 stock has a 50 day moving average price of $90.51 and a 200 day moving average price of $98.36.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last released its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share 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 return on equity of 112.30% and a negative net margin of 29.48%. The firm's quarterly revenue was up 126.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($2.20) earnings per share. Equities research analysts forecast that Blueprint Medicines Co. will post -3.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BPMC. Robert W. Baird increased their price objective on Blueprint Medicines from $112.00 to $127.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. Needham & Company LLC reissued a "buy" rating and issued a $135.00 price target on shares of Blueprint Medicines in a research report on Friday, November 15th. JMP Securities restated a "market outperform" rating and issued a $125.00 target price on shares of Blueprint Medicines in a research note on Monday, November 18th. Barclays increased their price objective on Blueprint Medicines from $75.00 to $105.00 and gave the company an "equal weight" rating in a report on Monday, July 29th. Finally, Wells Fargo & Company dropped their target price on shares of Blueprint Medicines from $153.00 to $151.00 and set an "overweight" rating on the stock in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $122.11.

Insider Buying and Selling

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the business's stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total value of $324,499.56. Following the completion of the transaction, the insider now directly owns 69,070 shares of the company's stock, valued at approximately $6,169,332.40. The trade was a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.21% of the stock is owned by 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.