Pitcairn Co. Purchases 5,783 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Pitcairn Co. raised its position in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 127.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,315 shares of the biotechnology company's stock after acquiring an additional 5,783 shares during the quarter. Pitcairn Co.'s holdings in Blueprint Medicines were worth $954,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Hsbc Holdings PLC purchased a new position in Blueprint Medicines during the 2nd quarter valued at $1,060,000. Comerica Bank increased its stake in shares of Blueprint Medicines by 2,582.9% in the 1st quarter. Comerica Bank now owns 10,839 shares of the biotechnology company's stock worth $1,028,000 after acquiring an additional 10,435 shares in the last quarter. Federated Hermes Inc. lifted its position in Blueprint Medicines by 27.8% during the 2nd quarter. Federated Hermes Inc. now owns 62,354 shares of the biotechnology company's stock valued at $6,721,000 after acquiring an additional 13,579 shares during the period. SG Americas Securities LLC boosted its stake in Blueprint Medicines by 82.8% during the second quarter. SG Americas Securities LLC now owns 21,684 shares of the biotechnology company's stock worth $2,337,000 after acquiring an additional 9,819 shares in the last quarter. Finally, Nicholas Investment Partners LP purchased a new stake in Blueprint Medicines in the second quarter worth about $4,377,000.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wells Fargo & Company dropped their price target on Blueprint Medicines from $153.00 to $151.00 and set an "overweight" rating on the stock in a research report on Thursday, October 31st. Wedbush restated an "outperform" rating and set a $135.00 price target on shares of Blueprint Medicines in a report on Thursday, November 14th. Baird R W upgraded shares of Blueprint Medicines to a "strong-buy" rating in a research note on Friday, August 2nd. Barclays lifted their target price on shares of Blueprint Medicines from $75.00 to $105.00 and gave the stock an "equal weight" rating in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Blueprint Medicines in a report on Thursday, November 14th. They set an "overweight" rating and a $126.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $122.11.

Blueprint Medicines Price Performance

Shares of BPMC traded down $0.28 during mid-day trading on Monday, reaching $93.87. The stock had a trading volume of 734,430 shares, compared to its average volume of 692,903. The firm has a market cap of $5.96 billion, a price-to-earnings ratio of -44.49 and a beta of 0.59. Blueprint Medicines Co. has a 12 month low of $67.00 and a 12 month high of $121.90. The business has a fifty day moving average of $90.51 and a 200 day moving average of $98.36. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.97) by $0.08. The business had revenue of $128.20 million during the quarter, compared to analyst estimates of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. Blueprint Medicines's revenue for the quarter was up 126.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($2.20) EPS. Equities analysts predict that Blueprint Medicines Co. will post -3.68 EPS for the current year.

Insider Buying and Selling at Blueprint Medicines

In related news, insider Fouad Namouni sold 3,633 shares of the company's stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total transaction of $324,499.56. Following the completion of the transaction, the insider now owns 69,070 shares in the company, valued at approximately $6,169,332.40. This represents a 5.00 % 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 this hyperlink. Insiders own 4.21% of the company's stock.

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.