The Manufacturers Life Insurance Company Has $13.88 Million Stake in Blueprint Medicines Co. (NASDAQ:BPMC)

The Manufacturers Life Insurance Company decreased its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 11.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 149,996 shares of the biotechnology company's stock after selling 18,763 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.24% of Blueprint Medicines worth $13,875,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Pitcairn Co. increased its position in Blueprint Medicines by 127.6% during the third quarter. Pitcairn Co. now owns 10,315 shares of the biotechnology company's stock worth $954,000 after buying an additional 5,783 shares during the period. Algert Global LLC increased its position in Blueprint Medicines by 40.7% during the third quarter. Algert Global LLC now owns 92,236 shares of the biotechnology company's stock worth $8,532,000 after buying an additional 26,696 shares during the period. Citigroup Inc. increased its position in Blueprint Medicines by 19.3% during the third quarter. Citigroup Inc. now owns 143,441 shares of the biotechnology company's stock worth $13,268,000 after buying an additional 23,189 shares during the period. Valence8 US LP acquired a new position in shares of Blueprint Medicines in the third quarter valued at approximately $242,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Blueprint Medicines by 9.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 597,232 shares of the biotechnology company's stock valued at $55,244,000 after purchasing an additional 50,736 shares during the period.

Analyst Upgrades and Downgrades

BPMC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. initiated coverage on Blueprint Medicines in a research report on Thursday, November 14th. They set an "overweight" rating and a $126.00 target price on the stock. StockNews.com upgraded Blueprint Medicines from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. HC Wainwright restated a "buy" rating and set a $135.00 price target on shares of Blueprint Medicines in a research note on Friday, November 15th. Wedbush reiterated an "outperform" rating and issued a $135.00 target price on shares of Blueprint Medicines in a research note on Thursday, November 14th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $135.00 target price on shares of Blueprint Medicines in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Blueprint Medicines currently has a consensus rating of "Moderate Buy" and an average price target of $122.11.

Insider Buying and Selling at Blueprint Medicines

In related news, insider Fouad Namouni sold 3,633 shares of the firm's stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total transaction of $324,499.56. Following the sale, the insider now owns 69,070 shares of the company's stock, valued at approximately $6,169,332.40. This trade represents a 5.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 4.21% of the company's stock.

Blueprint Medicines Stock Up 0.4 %

Shares of BPMC stock traded up $0.34 on Monday, reaching $96.72. 133,614 shares of the company's stock traded hands, compared to its average volume of 688,684. The company has a market capitalization of $6.14 billion, a P/E ratio of -45.68 and a beta of 0.59. The business's 50 day moving average price is $90.97 and its two-hundred day moving average price is $98.04. Blueprint Medicines Co. has a 12-month low of $70.39 and a 12-month high of $121.90. 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 posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.08. The business had revenue of $128.20 million during the quarter, compared to analysts' expectations 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 revenue was up 126.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.20) EPS. On average, equities analysts forecast that Blueprint Medicines Co. will post -3.68 earnings per share 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.