Principal Financial Group Inc. Buys 5,145 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Principal Financial Group Inc. increased its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 46.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,183 shares of the biotechnology company's stock after purchasing an additional 5,145 shares during the quarter. Principal Financial Group Inc.'s holdings in Blueprint Medicines were worth $1,411,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP raised its position in shares of Blueprint Medicines by 22.5% during the third quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company's stock worth $366,726,000 after acquiring an additional 729,055 shares during the last quarter. State Street Corp raised its position in shares of 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 last quarter. Jennison Associates LLC bought a new stake in shares of Blueprint Medicines during the fourth quarter worth $31,417,000. Jacobs Levy Equity Management Inc. raised its position in shares of Blueprint Medicines by 161.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 496,087 shares of the biotechnology company's stock valued at $45,888,000 after acquiring an additional 306,079 shares during the last quarter. Finally, Eventide Asset Management LLC raised its position in shares of Blueprint Medicines by 50.5% during the 3rd quarter. Eventide Asset Management LLC now owns 348,704 shares of the biotechnology company's stock valued at $32,255,000 after acquiring an additional 117,019 shares during the last quarter.

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Insider Activity

In other news, CEO Kate Haviland sold 1,446 shares of the firm's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total value of $159,407.04. Following the completion of the transaction, the chief executive officer now owns 149,378 shares in the company, valued at $16,467,430.72. This trade represents a 0.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ariel Hurley sold 1,819 shares of the firm's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $93.26, for a total value of $169,639.94. Following the completion of the transaction, the insider now owns 14,967 shares of the company's stock, valued at $1,395,822.42. The trade was a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,427 shares of company stock worth $4,837,801 in the last quarter. Corporate insiders own 4.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Scotiabank assumed coverage on shares of Blueprint Medicines in a research report on Friday. They set a "sector outperform" rating and a $150.00 target price for the company. Stephens reiterated an "overweight" rating and set a $140.00 target price on shares of Blueprint Medicines in a research report on Thursday, January 2nd. JPMorgan Chase & Co. upped their target price on shares of Blueprint Medicines from $126.00 to $129.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. StockNews.com cut shares of Blueprint Medicines from a "hold" rating to a "sell" rating in a research report on Monday, March 3rd. Finally, Piper Sandler upped their target price on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $125.21.

Blueprint Medicines Stock Down 1.6 %

Shares of NASDAQ:BPMC traded down $1.42 during mid-day trading on Friday, reaching $87.12. 908,608 shares of the stock were exchanged, compared to its average volume of 1,021,582. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15. The company has a market cap of $5.57 billion, a P/E ratio of -80.67 and a beta of 0.58. Blueprint Medicines Co. has a one year low of $80.68 and a one year high of $121.90. The stock's 50 day simple moving average is $99.38 and its 200-day simple moving average is $94.22.

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 (EPS) for the quarter, missing analysts' consensus estimates 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%. As a group, equities research analysts predict that Blueprint Medicines Co. will post -1.28 EPS for the current 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.