Massachusetts Financial Services Co. MA Grows Stock Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Massachusetts Financial Services Co. MA raised its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 48.8% during the third quarter, HoldingsChannel reports. The firm owned 252,236 shares of the biotechnology company’s stock after purchasing an additional 82,693 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Blueprint Medicines were worth $23,332,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Hsbc Holdings PLC purchased a new stake in Blueprint Medicines during the second quarter valued at about $1,060,000. Comerica Bank increased its holdings in shares of Blueprint Medicines by 2,582.9% in the first quarter. Comerica Bank now owns 10,839 shares of the biotechnology company’s stock worth $1,028,000 after buying an additional 10,435 shares during the period. Federated Hermes Inc. increased its holdings in shares of Blueprint Medicines by 27.8% in the second quarter. Federated Hermes Inc. now owns 62,354 shares of the biotechnology company’s stock worth $6,721,000 after buying an additional 13,579 shares during the period. SG Americas Securities LLC increased its holdings in shares of Blueprint Medicines by 82.8% in the second quarter. SG Americas Securities LLC now owns 21,684 shares of the biotechnology company’s stock worth $2,337,000 after buying an additional 9,819 shares during the period. Finally, Nicholas Investment Partners LP purchased a new position in shares of Blueprint Medicines in the second quarter worth about $4,377,000.

Insider Activity

In other news, insider Fouad Namouni sold 3,633 shares of Blueprint Medicines stock in a transaction that occurred 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 directly owns 69,070 shares in the company, valued at approximately $6,169,332.40. This trade represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BPMC. Baird R W upgraded Blueprint Medicines to a “strong-buy” rating in a report on Friday, August 2nd. Wells Fargo & Company decreased their price objective on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Barclays lifted their price objective on Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. HC Wainwright reiterated a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, November 15th. Finally, StockNews.com raised Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned 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 price target of $122.11.

Blueprint Medicines Stock Performance

Blueprint Medicines stock opened at $93.87 on Tuesday. The stock’s 50 day simple moving average is $90.51 and its two-hundred day simple moving average is $98.36. Blueprint Medicines Co. has a fifty-two week low of $67.00 and a fifty-two week high of $121.90. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of -44.49 and a beta of 0.59. 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) last released its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.97) by $0.08. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The firm had revenue of $128.20 million during the quarter, compared to analyst estimates of $127.56 million. During the same period last year, the business earned ($2.20) earnings per share. The business’s revenue was up 126.5% on a year-over-year basis. As a group, analysts expect that Blueprint Medicines Co. will post -3.68 earnings per share for the current fiscal 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.