Prudential Financial Inc. Increases Position in Blueprint Medicines Corporation (NASDAQ:BPMC)
Prudential Financial Inc. increased its stake in Blueprint Medicines Corporation (NASDAQ:BPMC) by 6.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,304 shares of the biotechnology company’s stock after buying an additional 984 shares during the period. Prudential Financial Inc. owned approximately 0.05% of Blueprint Medicines Corporation worth $692,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. State Street Corp increased its stake in Blueprint Medicines Corporation by 110.6% in the fourth quarter. State Street Corp now owns 681,891 shares of the biotechnology company’s stock valued at $19,125,000 after buying an additional 358,089 shares in the last quarter. Franklin Resources Inc. bought a new stake in Blueprint Medicines Corporation during the fourth quarter valued at about $5,610,000. Jennison Associates LLC acquired a new stake in shares of Blueprint Medicines Corporation during the first quarter worth about $5,998,000. Bank of New York Mellon Corp increased its stake in shares of Blueprint Medicines Corporation by 29.0% in the first quarter. Bank of New York Mellon Corp now owns 120,568 shares of the biotechnology company’s stock worth $4,822,000 after buying an additional 27,095 shares during the period. Finally, Swiss National Bank increased its stake in shares of Blueprint Medicines Corporation by 12.1% in the first quarter. Swiss National Bank now owns 46,300 shares of the biotechnology company’s stock worth $1,852,000 after buying an additional 5,000 shares during the period. Hedge funds and other institutional investors own 88.67% of the company’s stock.
Shares of Blueprint Medicines Corporation (NASDAQ BPMC) traded up 1.83% on Monday, hitting $49.55. The stock had a trading volume of 191,203 shares. The stock’s market cap is $1.65 billion. Blueprint Medicines Corporation has a 12 month low of $21.97 and a 12 month high of $56.81. The company has a 50 day moving average price of $50.35 and a 200-day moving average price of $41.89.
Blueprint Medicines Corporation (NASDAQ:BPMC) last announced its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by $0.11. The business had revenue of $5.89 million during the quarter, compared to analyst estimates of $5.96 million. Blueprint Medicines Corporation had a negative net margin of 388.91% and a negative return on equity of 45.58%. The company’s revenue for the quarter was down 16.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.70) EPS. On average, equities research analysts anticipate that Blueprint Medicines Corporation will post ($3.56) earnings per share for the current year.
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A number of equities research analysts recently issued reports on BPMC shares. Canaccord Genuity set a $52.00 price objective on Blueprint Medicines Corporation and gave the stock a “buy” rating in a research report on Tuesday, June 6th. Zacks Investment Research downgraded Blueprint Medicines Corporation from a “hold” rating to a “sell” rating in a research report on Friday. TheStreet downgraded Blueprint Medicines Corporation from a “c-” rating to a “d+” rating in a research report on Wednesday, May 3rd. Jefferies Group LLC raised their price target on Blueprint Medicines Corporation from $42.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, May 4th. Finally, Wedbush restated an “outperform” rating and set a $55.00 price target on shares of Blueprint Medicines Corporation in a research report on Tuesday, June 6th. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $47.90.
In related news, Director Daniel Lynch sold 32,500 shares of Blueprint Medicines Corporation stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $50.28, for a total value of $1,634,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey W. Albers sold 20,000 shares of Blueprint Medicines Corporation stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $50.47, for a total transaction of $1,009,400.00. Following the completion of the transaction, the chief executive officer now owns 47,920 shares of the company’s stock, valued at approximately $2,418,522.40. The disclosure for this sale can be found here. Insiders sold 73,622 shares of company stock valued at $3,771,405 in the last 90 days. Company insiders own 3.40% of the company’s stock.
About Blueprint Medicines Corporation
Blueprint Medicines Corporation is a biopharmaceutical company. The Company focuses on patients with genomically defined diseases driven by abnormal kinase activation. It focuses on crafting drug candidates that provide clinical responses to patients without adequate treatment options. It has developed a small molecule drug pipeline in cancer and a genetic disease.
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