Morgan Stanley Increases Position in Blueprint Medicines Corporation (BPMC)

Morgan Stanley raised its position in shares of Blueprint Medicines Corporation (NASDAQ:BPMC) by 16.1% during the first quarter, Holdings Channel reports. The fund owned 109,668 shares of the biotechnology company’s stock after buying an additional 15,175 shares during the period. Morgan Stanley’s holdings in Blueprint Medicines Corporation were worth $4,386,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. UBS Asset Management Americas Inc. acquired a new stake in shares of Blueprint Medicines Corporation during the first quarter worth approximately $201,000. Trexquant Investment LP acquired a new stake in shares of Blueprint Medicines Corporation during the first quarter worth approximately $230,000. Legal & General Group Plc boosted its stake in shares of Blueprint Medicines Corporation by 31.8% in the first quarter. Legal & General Group Plc now owns 5,884 shares of the biotechnology company’s stock worth $235,000 after buying an additional 1,419 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of Blueprint Medicines Corporation during the fourth quarter worth approximately $289,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Blueprint Medicines Corporation during the fourth quarter worth approximately $305,000. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Blueprint Medicines Corporation (NASDAQ:BPMC) traded down 1.81% during trading on Friday, hitting $46.11. 304,564 shares of the stock traded hands. The company’s market cap is $1.80 billion. The firm’s 50-day moving average price is $51.90 and its 200-day moving average price is $42.60. Blueprint Medicines Corporation has a 52 week low of $23.71 and a 52 week high of $56.81.

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

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Several equities research analysts have issued reports on the stock. Cowen and Company reaffirmed a “buy” rating on shares of Blueprint Medicines Corporation in a research note on Tuesday, June 6th. Zacks Investment Research cut shares of Blueprint Medicines Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, April 18th. BidaskClub raised shares of Blueprint Medicines Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Wedbush reaffirmed an “outperform” rating and set a $55.00 price target on shares of Blueprint Medicines Corporation in a research note on Tuesday, June 6th. Finally, Jefferies Group LLC raised their price target on shares of Blueprint Medicines Corporation from $42.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has given a strong buy rating to the company. Blueprint Medicines Corporation currently has a consensus rating of “Buy” and an average price target of $47.90.

In other news, insider Anthony L. Boral sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $48.60, for a total transaction of $243,000.00. Following the sale, the insider now owns 5,000 shares of the company’s stock, valued at $243,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey W. Albers sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $50.47, for a total value of $1,009,400.00. Following the sale, the chief executive officer now directly owns 47,920 shares in the company, valued at approximately $2,418,522.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 128,622 shares of company stock worth $6,484,605. 3.40% of the stock is owned by company insiders.

Blueprint Medicines Corporation Company 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.

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

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