TimesSquare Capital Management LLC acquired a new stake in shares of Blueprint Medicines Corporation (NASDAQ:BPMC) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 560,000 shares of the biotechnology company’s stock, valued at approximately $28,375,000. TimesSquare Capital Management LLC owned approximately 1.68% of Blueprint Medicines Corporation at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BPMC. Teachers Advisors LLC grew its stake in Blueprint Medicines Corporation by 2.7% during the 4th quarter. Teachers Advisors LLC now owns 32,932 shares of the biotechnology company’s stock valued at $924,000 after acquiring an additional 881 shares in the last quarter. Nationwide Fund Advisors grew its stake in Blueprint Medicines Corporation by 76.0% during the 1st quarter. Nationwide Fund Advisors now owns 21,792 shares of the biotechnology company’s stock valued at $871,000 after acquiring an additional 9,410 shares in the last quarter. Wells Fargo & Company MN grew its stake in Blueprint Medicines Corporation by 40.2% during the 1st quarter. Wells Fargo & Company MN now owns 21,928 shares of the biotechnology company’s stock valued at $877,000 after acquiring an additional 6,286 shares in the last quarter. Henderson Group PLC purchased a new stake in Blueprint Medicines Corporation during the 1st quarter valued at about $1,200,000. Finally, Bank of New York Mellon Corp grew its stake in Blueprint Medicines Corporation by 29.0% during the 1st quarter. Bank of New York Mellon Corp now owns 120,568 shares of the biotechnology company’s stock valued at $4,822,000 after acquiring an additional 27,095 shares in the last quarter. 90.71% of the stock is owned by institutional investors.

In related news, insider Anthony L. Boral sold 5,000 shares of Blueprint Medicines Corporation stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $48.60, for a total value of $243,000.00. Following the completion of the sale, the insider now owns 5,000 shares in the company, valued at $243,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel Lynch sold 7,500 shares of Blueprint Medicines Corporation stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $55.06, for a total transaction of $412,950.00. Following the completion of the sale, the director now owns 211,842 shares of the company’s stock, valued at approximately $11,664,020.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 128,622 shares of company stock worth $6,484,605. Corporate insiders own 3.40% of the company’s stock.

Blueprint Medicines Corporation (BPMC) opened at 52.28 on Monday. The stock has a 50 day moving average of $50.44 and a 200 day moving average of $44.63. The firm’s market capitalization is $2.05 billion. Blueprint Medicines Corporation has a one year low of $25.08 and a one year high of $56.93.

Blueprint Medicines Corporation (NASDAQ:BPMC) last posted its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.86) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by $0.11. Blueprint Medicines Corporation had a negative return on equity of 45.58% and a negative net margin of 388.91%. The firm had revenue of $5.89 million for the quarter, compared to analyst estimates of $5.96 million. During the same period in the previous year, the firm posted ($0.70) earnings per share. The company’s revenue for the quarter was down 16.7% on a year-over-year basis. Analysts forecast that Blueprint Medicines Corporation will post ($3.59) earnings per share for the current year.

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Several brokerages recently issued reports on BPMC. Jefferies Group LLC reaffirmed a “buy” rating and set a $56.00 price objective on shares of Blueprint Medicines Corporation in a research note on Tuesday, September 5th. Wedbush reaffirmed an “outperform” rating and set a $66.00 price objective on shares of Blueprint Medicines Corporation in a research note on Tuesday, August 22nd. BidaskClub lowered shares of Blueprint Medicines Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 19th. Zacks Investment Research lowered shares of Blueprint Medicines Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Finally, Canaccord Genuity set a $56.00 target price on shares of Blueprint Medicines Corporation and gave the company a “buy” rating in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $49.77.

Blueprint Medicines Corporation Profile

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.

Institutional Ownership by Quarter for Blueprint Medicines Corporation (NASDAQ:BPMC)

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