Farallon Capital Management LLC increased its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC – Get Rating) by 67.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,356,987 shares of the biotechnology company's stock after buying an additional 545,240 shares during the period. Farallon Capital Management LLC's holdings in Blueprint Medicines were worth $86,684,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Duality Advisers LP purchased a new stake in Blueprint Medicines during the first quarter worth about $761,000. JPMorgan Chase & Co. lifted its holdings in shares of Blueprint Medicines by 1.9% in the first quarter. JPMorgan Chase & Co. now owns 1,675,124 shares of the biotechnology company's stock valued at $107,006,000 after purchasing an additional 30,963 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of Blueprint Medicines in the first quarter valued at about $570,000. Alliancebernstein L.P. lifted its holdings in shares of Blueprint Medicines by 7.6% in the fourth quarter. Alliancebernstein L.P. now owns 1,500,745 shares of the biotechnology company's stock valued at $160,745,000 after purchasing an additional 106,541 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its holdings in shares of Blueprint Medicines by 12.6% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 352,243 shares of the biotechnology company's stock valued at $37,728,000 after purchasing an additional 39,293 shares in the last quarter.
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Analyst Upgrades and Downgrades
Several analysts have issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Blueprint Medicines from $126.00 to $143.00 and gave the company a "buy" rating in a report on Wednesday, August 3rd. Piper Sandler reduced their price target on shares of Blueprint Medicines from $65.00 to $59.00 in a report on Tuesday, August 2nd. Morgan Stanley upped their price target on shares of Blueprint Medicines from $65.00 to $80.00 and gave the company an "equal weight" rating in a report on Friday. Credit Suisse Group upped their price target on shares of Blueprint Medicines from $80.00 to $90.00 in a report on Wednesday, September 7th. Finally, Raymond James reduced their price objective on shares of Blueprint Medicines from $133.00 to $115.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, August 3rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Blueprint Medicines has a consensus rating of "Moderate Buy" and a consensus price target of $92.19.
Insider Buying and Selling
In other news, SVP Christopher K. Murray sold 2,500 shares of the stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $60.44, for a total value of $151,100.00. Following the completion of the sale, the senior vice president now owns 21,320 shares of the company's stock, valued at $1,288,580.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Jeffrey W. Albers sold 20,000 shares of the stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $68.41, for a total value of $1,368,200.00. Following the completion of the sale, the director now owns 183,243 shares of the company's stock, valued at $12,535,653.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Christopher K. Murray sold 2,500 shares of the stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $60.44, for a total transaction of $151,100.00. Following the completion of the sale, the senior vice president now directly owns 21,320 shares of the company's stock, valued at approximately $1,288,580.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,500 shares of company stock valued at $3,300,123. Insiders own 3.42% of the company's stock.
Blueprint Medicines Stock Performance
Shares of BPMC stock opened at $75.47 on Tuesday. Blueprint Medicines Co. has a one year low of $43.46 and a one year high of $117.86. The company has a 50 day moving average price of $63.57 and a 200 day moving average price of $60.69. The firm has a market capitalization of $4.50 billion, a price-to-earnings ratio of -6.36 and a beta of 0.78.
Blueprint Medicines (NASDAQ:BPMC – Get Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The biotechnology company reported ($2.68) EPS for the quarter, missing the consensus estimate of ($2.23) by ($0.45). Blueprint Medicines had a negative return on equity of 45.89% and a negative net margin of 304.41%. The company had revenue of $36.55 million for the quarter, compared to analyst estimates of $37.61 million. During the same period last year, the company posted ($1.86) EPS. The business's revenue for the quarter was up 33.9% on a year-over-year basis. As a group, equities analysts forecast that Blueprint Medicines Co. will post -9.2 EPS for the current fiscal year.
About Blueprint Medicines
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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 non-advanced SM and other mast cell disorders; and Fisogatinib, an orally available and potent inhibitor for the treatment of hepatocellular carcinoma.
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