Boston Private Wealth LLC lifted its stake in Blueprint Medicines Co. (NASDAQ:BPMC) by 14.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,589 shares of the biotechnology company’s stock after purchasing an additional 1,089 shares during the quarter. Boston Private Wealth LLC’s holdings in Blueprint Medicines were worth $835,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Baillie Gifford & Co. bought a new stake in shares of Blueprint Medicines in the 1st quarter worth approximately $41,000. Neo Ivy Capital Management bought a new stake in shares of Blueprint Medicines in the 4th quarter worth approximately $48,000. Banque Cantonale Vaudoise bought a new stake in shares of Blueprint Medicines in the 1st quarter worth approximately $59,000. Lazard Asset Management LLC bought a new position in Blueprint Medicines in the 4th quarter valued at approximately $92,000. Finally, CIBC Asset Management Inc bought a new position in Blueprint Medicines in the 4th quarter valued at approximately $216,000. 99.11% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Jeffrey W. Albers sold 25,000 shares of the company’s stock in a transaction on Wednesday, May 12th. The stock was sold at an average price of $92.69, for a total value of $2,317,250.00. Following the completion of the sale, the chief executive officer now directly owns 179,948 shares in the company, valued at approximately $16,679,380.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.81% of the company’s stock.
Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data on Wednesday, April 28th. The biotechnology company reported ($1.72) EPS for the quarter, topping the consensus estimate of ($1.80) by $0.08. Blueprint Medicines had a return on equity of 27.25% and a net margin of 40.18%. On average, equities research analysts expect that Blueprint Medicines Co. will post -6.66 EPS for the current year.
Several equities analysts recently issued reports on BPMC shares. Barclays upped their price objective on Blueprint Medicines from $90.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday, February 18th. Credit Suisse Group started coverage on Blueprint Medicines in a research report on Tuesday, March 30th. They issued a “neutral” rating and a $100.00 price objective on the stock. Morgan Stanley lowered their price objective on Blueprint Medicines from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday, April 30th. HC Wainwright reaffirmed a “buy” rating on shares of Blueprint Medicines in a research report on Thursday, February 18th. Finally, Wedbush increased their price target on Blueprint Medicines from $119.00 to $136.00 and gave the company an “outperform” rating in a report on Tuesday, April 13th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $112.87.
About Blueprint Medicines
Blueprint Medicines Corporation, a precision therapy company, develops medicines for people with cancer and hematologic disorders, and multiple programs for genomically defined cancers, systemic mastocytosis, and cancer immunotherapy in the United States and Europe. The company is developing avapritinib 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, which is in Phase 1b/2 trials for the treatment of advanced hepatocellular carcinoma.
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