Wellington Management Group LLP Grows Stock Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Wellington Management Group LLP raised its position in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 22.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,964,610 shares of the biotechnology company's stock after purchasing an additional 729,055 shares during the period. Wellington Management Group LLP owned 6.24% of Blueprint Medicines worth $366,726,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Triad Wealth Partners LLC bought a new stake in Blueprint Medicines during the second quarter valued at approximately $27,000. Quarry LP bought a new stake in shares of Blueprint Medicines during the 3rd quarter worth $32,000. Covestor Ltd grew its position in Blueprint Medicines by 206.7% in the third quarter. Covestor Ltd now owns 598 shares of the biotechnology company's stock worth $55,000 after acquiring an additional 403 shares in the last quarter. Quantbot Technologies LP bought a new position in Blueprint Medicines in the third quarter valued at $108,000. Finally, CWM LLC raised its position in Blueprint Medicines by 114.6% during the second quarter. CWM LLC now owns 1,105 shares of the biotechnology company's stock valued at $119,000 after purchasing an additional 590 shares in the last quarter.

Insider Activity

In other Blueprint Medicines news, CEO Kate Haviland sold 2,353 shares of the company's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $96.60, for a total transaction of $227,299.80. Following the completion of the sale, the chief executive officer now directly owns 150,824 shares of the company's stock, valued at approximately $14,569,598.40. This represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $95.10, for a total transaction of $216,257.40. Following the transaction, the chief operating officer now owns 71,657 shares in the company, valued at $6,814,580.70. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,260 shares of company stock valued at $768,057 in the last 90 days. 4.21% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BPMC. Wedbush reiterated an "outperform" rating and set a $135.00 price objective on shares of Blueprint Medicines in a research report on Thursday, November 14th. Wells Fargo & Company reduced their price target 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. JPMorgan Chase & Co. began coverage on shares of Blueprint Medicines in a report on Thursday, November 14th. They issued an "overweight" rating and a $126.00 price objective for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $135.00 target price on shares of Blueprint Medicines in a report on Friday, November 15th. Finally, StockNews.com raised shares of Blueprint Medicines from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $122.11.

Blueprint Medicines Stock Up 0.9 %

Shares of NASDAQ BPMC traded up $0.89 during midday trading on Friday, hitting $95.97. The stock had a trading volume of 373,649 shares, compared to its average volume of 556,725. The business's 50 day moving average is $91.62 and its 200-day moving average is $97.79. Blueprint Medicines Co. has a 52 week low of $71.97 and a 52 week high of $121.90. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09. The company has a market cap of $6.10 billion, a P/E ratio of -45.48 and a beta of 0.59.

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

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.