Prudential Financial Inc. increased its stake in shares of Blueprint Medicines Corp (NASDAQ:BPMC) by 118.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,874 shares of the biotechnology company’s stock after buying an additional 10,224 shares during the quarter. Prudential Financial Inc.’s holdings in Blueprint Medicines were worth $1,780,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System grew its holdings in Blueprint Medicines by 2.1% during the second quarter. State Board of Administration of Florida Retirement System now owns 24,831 shares of the biotechnology company’s stock worth $2,342,000 after buying an additional 510 shares in the last quarter. Whittier Trust Co. bought a new position in Blueprint Medicines in the 2nd quarter valued at $97,000. Xact Kapitalforvaltning AB grew its stake in Blueprint Medicines by 17.1% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 7,551 shares of the biotechnology company’s stock valued at $712,000 after purchasing an additional 1,100 shares during the period. Summit Wealth & Retirement Planning Inc. grew its stake in Blueprint Medicines by 19.7% in the 2nd quarter. Summit Wealth & Retirement Planning Inc. now owns 7,345 shares of the biotechnology company’s stock valued at $693,000 after purchasing an additional 1,210 shares during the period. Finally, Zeke Capital Advisors LLC grew its stake in Blueprint Medicines by 35.9% in the 2nd quarter. Zeke Capital Advisors LLC now owns 5,323 shares of the biotechnology company’s stock valued at $502,000 after purchasing an additional 1,407 shares during the period. Institutional investors and hedge funds own 99.29% of the company’s stock.
Shares of NASDAQ:BPMC traded up $1.52 on Thursday, hitting $81.01. The company’s stock had a trading volume of 5,138 shares, compared to its average volume of 442,360. The company has a 50-day simple moving average of $82.49 and a 200 day simple moving average of $84.78. Blueprint Medicines Corp has a 1 year low of $44.58 and a 1 year high of $102.98. The company has a market capitalization of $3.90 billion, a PE ratio of -15.00 and a beta of 1.64. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.52 and a quick ratio of 7.52.
Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($2.04) earnings per share for the quarter, missing the consensus estimate of ($1.92) by ($0.12). Blueprint Medicines had a negative net margin of 4,268.74% and a negative return on equity of 73.73%. The business had revenue of $5.11 million during the quarter, compared to analysts’ expectations of $1.39 million. During the same period in the previous year, the business earned ($0.62) EPS. The business’s revenue was down 87.7% on a year-over-year basis. On average, equities research analysts expect that Blueprint Medicines Corp will post -8.63 earnings per share for the current fiscal year.
BPMC has been the subject of several research reports. Cowen reiterated a “buy” rating on shares of Blueprint Medicines in a research note on Monday, September 9th. Piper Jaffray Companies reissued a “hold” rating on shares of Blueprint Medicines in a report on Monday, September 9th. Zacks Investment Research cut Blueprint Medicines from a “buy” rating to a “sell” rating and set a $94.00 price objective on the stock. in a report on Wednesday, August 7th. Deutsche Bank began coverage on Blueprint Medicines in a report on Thursday, July 18th. They set a “buy” rating and a $110.00 price objective on the stock. Finally, Raymond James raised Blueprint Medicines from a “market perform” rating to an “outperform” rating in a report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Blueprint Medicines currently has an average rating of “Buy” and an average price target of $108.22.
In other Blueprint Medicines news, insider Ariel Hurley sold 415 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $84.02, for a total value of $34,868.30. Following the sale, the insider now owns 415 shares of the company’s stock, valued at approximately $34,868.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lonnel Coats sold 10,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $82.40, for a total value of $824,000.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $824,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,259 shares of company stock worth $6,521,262. Insiders own 4.02% of the company’s stock.
About Blueprint Medicines
Blueprint Medicines Corporation develops drugs of small molecule kinase inhibitors that target genomic drivers in various cancers and a rare genetic disease. Its lead drug candidates include avapritinib, which completed Phase I clinical trials that targets PDGFRA Exon 18 mutant GIST and KIT-driven GIST; and BLU-554, which is in Phase I clinical trials an orally available, potent, and irreversible inhibitor of the kinase FGFR4 that is activated in a defined subset of patients with hepatocellular carcinoma.
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