Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Blueprint Medicines Corp (NASDAQ:BPMC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,600 shares of the biotechnology company’s stock, valued at approximately $140,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. BlueMountain Capital Management LLC bought a new position in Blueprint Medicines during the third quarter valued at about $140,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in shares of Blueprint Medicines by 24.2% in the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,000 shares of the biotechnology company’s stock valued at $107,000 after purchasing an additional 390 shares during the period. Pacer Advisors Inc. bought a new stake in shares of Blueprint Medicines in the 3rd quarter valued at approximately $286,000. PNC Financial Services Group Inc. grew its stake in shares of Blueprint Medicines by 16.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,255 shares of the biotechnology company’s stock valued at $229,000 after purchasing an additional 594 shares during the period. Finally, LPL Financial LLC bought a new stake in shares of Blueprint Medicines in the 3rd quarter valued at approximately $411,000.
In related news, insider Marion Dorsch sold 2,300 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $84.66, for a total transaction of $194,718.00. Following the sale, the insider now directly owns 2,300 shares in the company, valued at approximately $194,718. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey W. Albers sold 20,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $86.39, for a total value of $1,727,800.00. Following the sale, the chief executive officer now owns 48,961 shares in the company, valued at $4,229,740.79. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,359 shares of company stock worth $3,798,843. 3.15% of the stock is owned by corporate insiders.
Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Tuesday, February 26th. The biotechnology company reported ($1.83) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.68) by ($0.15). The business had revenue of $1.03 million for the quarter, compared to the consensus estimate of $1.77 million. Blueprint Medicines had a negative return on equity of 46.58% and a negative net margin of 531.53%. The firm’s revenue was down 36.7% on a year-over-year basis. During the same quarter last year, the company earned ($1.23) earnings per share. As a group, equities analysts expect that Blueprint Medicines Corp will post -7.27 earnings per share for the current year.
Several research firms have recently weighed in on BPMC. Morgan Stanley began coverage on Blueprint Medicines in a research note on Wednesday, April 3rd. They issued an “overweight” rating and a $112.00 price objective on the stock. BidaskClub lowered Blueprint Medicines from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 16th. Zacks Investment Research upgraded Blueprint Medicines from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research note on Tuesday. Cowen reiterated a “buy” rating on shares of Blueprint Medicines in a research note on Tuesday, February 26th. Finally, Wedbush reiterated an “outperform” rating on shares of Blueprint Medicines in a research note on Tuesday, February 26th. Nine equities research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average target price of $102.17.
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Blueprint Medicines Profile
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.
Read More: Compound Annual Growth Rate (CAGR)
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