Comerica Bank Grows Stake in Blueprint Medicines Corp (BPMC)
Comerica Bank raised its position in Blueprint Medicines Corp (NASDAQ:BPMC) by 20.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,617 shares of the biotechnology company’s stock after purchasing an additional 2,180 shares during the quarter. Comerica Bank’s holdings in Blueprint Medicines were worth $878,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. BlueMountain Capital Management LLC acquired a new stake in shares of Blueprint Medicines in the third quarter valued at about $140,000. Fernwood Investment Management LLC acquired a new stake in shares of Blueprint Medicines in the third quarter valued at about $210,000. Pacer Advisors Inc. acquired a new stake in shares of Blueprint Medicines in the third quarter valued at about $286,000. LPL Financial LLC acquired a new stake in shares of Blueprint Medicines in the third quarter valued at about $411,000. Finally, Algert Global LLC acquired a new stake in shares of Blueprint Medicines in the third quarter valued at about $447,000.
In other Blueprint Medicines news, insider Marion Dorsch sold 2,300 shares of the firm’s 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 completion of the sale, the insider now owns 2,300 shares in the company, valued at approximately $194,718. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Kate Haviland sold 21,644 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $85.05, for a total value of $1,840,822.20. Following the sale, the chief operating officer now owns 20,018 shares of the company’s stock, valued at approximately $1,702,530.90. The disclosure for this sale can be found here. 3.15% of the stock is owned by company insiders.
Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Tuesday, February 26th. The biotechnology company reported ($1.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.76) by ($0.07). Blueprint Medicines had a negative net margin of 531.53% and a negative return on equity of 46.58%. The business had revenue of $1.03 million for the quarter, compared to analyst estimates of $1.77 million. During the same quarter last year, the business earned ($1.23) EPS. Blueprint Medicines’s revenue for the quarter was down 36.7% compared to the same quarter last year. Equities analysts predict that Blueprint Medicines Corp will post -7.7 earnings per share for the current year.
A number of equities research analysts have recently issued reports on BPMC shares. Cowen reiterated a “buy” rating on shares of Blueprint Medicines in a research note on Thursday, November 15th. BidaskClub upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Tuesday, November 27th. ValuEngine lowered Blueprint Medicines from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 2nd. Zacks Investment Research lowered Blueprint Medicines from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. Finally, Wedbush reiterated an “outperform” rating and issued a $103.00 target price on shares of Blueprint Medicines in a research note on Monday, January 7th. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. Blueprint Medicines presently has an average rating of “Buy” and a consensus price target of $103.25.
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Blueprint Medicines Company Profile
Blueprint Medicines Corporation, a biopharmaceutical company, 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 is in Phase I clinical trials that targets KIT Exon 17 mutant proteins and PDGFRa D842V mutations, that are drivers of cancer and proliferative disorders, including gastrointestinal stromal tumors and systemic mastocytosis; 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.
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