American Century Companies Inc. lowered its holdings in Blueprint Medicines Co. (NASDAQ:BPMC – Free Report) by 0.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 614,721 shares of the biotechnology company’s stock after selling 1,571 shares during the period. American Century Companies Inc. owned approximately 1.02% of Blueprint Medicines worth $26,649,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the business. Raymond James & Associates boosted its stake in shares of Blueprint Medicines by 18.6% in the first quarter. Raymond James & Associates now owns 31,565 shares of the biotechnology company’s stock valued at $2,016,000 after purchasing an additional 4,945 shares during the period. US Bancorp DE boosted its stake in Blueprint Medicines by 11.4% during the 1st quarter. US Bancorp DE now owns 7,234 shares of the biotechnology company’s stock valued at $463,000 after acquiring an additional 743 shares during the last quarter. MetLife Investment Management LLC boosted its stake in Blueprint Medicines by 53.9% during the 1st quarter. MetLife Investment Management LLC now owns 31,782 shares of the biotechnology company’s stock valued at $2,030,000 after acquiring an additional 11,131 shares during the last quarter. Rhumbline Advisers boosted its stake in Blueprint Medicines by 1.5% during the 1st quarter. Rhumbline Advisers now owns 63,434 shares of the biotechnology company’s stock valued at $4,052,000 after acquiring an additional 924 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in Blueprint Medicines by 0.9% during the 1st quarter. BlackRock Inc. now owns 5,383,138 shares of the biotechnology company’s stock valued at $343,876,000 after acquiring an additional 46,264 shares during the last quarter.
Blueprint Medicines Trading Down 0.4 %
NASDAQ:BPMC opened at $48.85 on Wednesday. The company has a quick ratio of 4.70, a current ratio of 4.80 and a debt-to-equity ratio of 0.39. Blueprint Medicines Co. has a 1-year low of $37.82 and a 1-year high of $79.40. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of -5.30 and a beta of 0.74. The stock has a fifty day simple moving average of $56.48 and a 200 day simple moving average of $51.98.
Analysts Set New Price Targets
A number of research analysts have commented on BPMC shares. Morgan Stanley increased their price objective on shares of Blueprint Medicines from $55.00 to $59.00 and gave the company an “equal weight” rating in a research note on Thursday, August 3rd. The Goldman Sachs Group reduced their price target on shares of Blueprint Medicines from $93.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, August 3rd. Barclays raised their price target on shares of Blueprint Medicines from $44.00 to $46.00 in a research report on Tuesday, May 23rd. Wells Fargo & Company upgraded shares of Blueprint Medicines from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $55.00 to $82.00 in a research report on Monday, July 31st. Finally, SVB Leerink cut shares of Blueprint Medicines from a “market perform” rating to an “underperform” rating in a research report on Monday, June 5th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $77.82.
Check Out Our Latest Research Report on BPMC
Insider Buying and Selling
In related news, insider Percy H. Carter sold 2,307 shares of the stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $52.06, for a total value of $120,102.42. Following the completion of the sale, the insider now directly owns 38,117 shares of the company’s stock, valued at approximately $1,984,371.02. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Percy H. Carter sold 2,307 shares of the firm’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $52.06, for a total transaction of $120,102.42. Following the completion of the sale, the insider now directly owns 38,117 shares of the company’s stock, valued at approximately $1,984,371.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey W. Albers sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $50.16, for a total value of $501,600.00. Following the sale, the director now directly owns 176,050 shares of the company’s stock, valued at $8,830,668. The disclosure for this sale can be found here. Company insiders own 3.88% of the company’s stock.
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; and Fisogatinib.
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