Comerica Bank Purchases 10,551 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Comerica Bank lifted its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 411.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,115 shares of the biotechnology company’s stock after buying 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.

Several other large investors have also made changes to their positions in BPMC. R Squared Ltd bought a new stake in shares of Blueprint Medicines in the 4th quarter valued at approximately $51,000. Headlands Technologies LLC bought a new stake in shares of Blueprint Medicines in the 4th quarter valued at approximately $65,000. Thematics Asset Management bought a new stake in Blueprint Medicines during the fourth quarter worth approximately $72,000. Covestor Ltd grew its holdings in Blueprint Medicines by 62.7% during the fourth quarter. Covestor Ltd now owns 973 shares of the biotechnology company’s stock valued at $85,000 after purchasing an additional 375 shares during the last quarter. Finally, Asset Management One Co. Ltd. acquired a new position in Blueprint Medicines during the fourth quarter valued at approximately $88,000.

Analysts Set New Price Targets

Several brokerages have commented on BPMC. Needham & Company LLC lowered their price target on Blueprint Medicines from $133.00 to $130.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Piper Sandler increased their price target on Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Morgan Stanley began coverage on Blueprint Medicines in a report on Thursday, March 20th. They set an “equal weight” rating and a $100.00 price target on the stock. Wolfe Research began coverage on Blueprint Medicines in a report on Tuesday, March 18th. They set an “outperform” rating on the stock. Finally, Wedbush reiterated an “outperform” rating and set a $128.00 price target on shares of Blueprint Medicines in a report on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Blueprint Medicines presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.56.

Blueprint Medicines Stock Down 1.0%

Shares of BPMC stock opened at $97.74 on Monday. The stock has a market cap of $6.31 billion, a P/E ratio of -90.50 and a beta of 0.83. Blueprint Medicines Co. has a one year low of $73.04 and a one year high of $121.90. The stock has a fifty day moving average price of $88.49 and a 200 day moving average price of $93.88. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80.

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

Insider Activity

In other news, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $101.75, for a total transaction of $231,379.50. Following the transaction, the chief operating officer now owns 66,992 shares in the company, valued at $6,816,436. The trade was a 3.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ariel Hurley sold 3,203 shares of Blueprint Medicines stock in a transaction dated Monday, March 3rd. The shares were 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 trade represents a 14.92% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,503 shares of company stock worth $1,027,931. 4.21% of the stock is owned by corporate insiders.

Blueprint Medicines Company 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.