Blueprint Medicines Co. (NASDAQ:BPMC) Shares Bought by Comerica Bank

Comerica Bank grew its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 411.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,115 shares of the biotechnology company’s stock after acquiring an additional 10,551 shares during the quarter. Comerica Bank’s holdings in Blueprint Medicines were worth $1,144,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Blueprint Medicines by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 6,774,884 shares of the biotechnology company’s stock worth $590,905,000 after purchasing an additional 91,450 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Blueprint Medicines by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,679,089 shares of the biotechnology company’s stock worth $495,331,000 after purchasing an additional 291,822 shares during the period. Wellington Management Group LLP lifted its holdings in Blueprint Medicines by 8.0% in the fourth quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company’s stock worth $373,421,000 after purchasing an additional 316,754 shares during the period. William Blair Investment Management LLC lifted its holdings in Blueprint Medicines by 16.1% in the fourth quarter. William Blair Investment Management LLC now owns 1,944,695 shares of the biotechnology company’s stock worth $169,616,000 after purchasing an additional 269,896 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Blueprint Medicines by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,490,101 shares of the biotechnology company’s stock worth $129,996,000 after purchasing an additional 9,914 shares during the period.

Analyst Ratings Changes

Several research firms recently weighed in on BPMC. Scotiabank began coverage on shares of Blueprint Medicines in a report on Friday, March 7th. They issued a “sector outperform” rating and a $150.00 price objective for the company. Jefferies Financial Group began coverage on shares of Blueprint Medicines in a report on Monday, March 17th. They issued a “buy” rating and a $135.00 price objective for the company. Morgan Stanley began coverage on shares of Blueprint Medicines in a report on Thursday, March 20th. They issued an “equal weight” rating and a $100.00 price objective for the company. JMP Securities reaffirmed a “market outperform” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a report on Friday, February 14th. Finally, Piper Sandler upped their price target on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Five research analysts have rated the stock with a hold rating, thirteen 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 currently has an average rating of “Moderate Buy” and a consensus price target of $126.56.

Insider Activity

In other news, insider Ariel Hurley sold 3,203 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.62, for a total value of $296,661.86. Following the transaction, the insider now owns 18,270 shares in the company, valued at $1,692,167.40. This represents a 14.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Christina Rossi sold 2,274 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $101.75, for a total value of $231,379.50. Following the completion of the transaction, the chief operating officer now owns 66,992 shares in the company, valued at $6,816,436. This represents a 3.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,503 shares of company stock worth $1,027,931 in the last 90 days. Company insiders own 4.21% of the company’s stock.

Blueprint Medicines Price Performance

NASDAQ BPMC opened at $97.74 on Monday. The stock’s 50-day moving average price is $88.49 and its two-hundred day moving average price is $93.88. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. The company has a market cap of $6.31 billion, a PE ratio of -90.50 and a beta of 0.83. Blueprint Medicines Co. has a 1 year low of $73.04 and a 1 year high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.32). The company had revenue of $149.41 million for the quarter, compared to analyst estimates of $158.31 million. Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. Blueprint Medicines’s quarterly revenue was up 55.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.40 EPS. On average, analysts predict that Blueprint Medicines Co. will post -1.28 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.