Teacher Retirement System of Texas Raises Stock Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Teacher Retirement System of Texas lifted its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 25.7% in the fourth quarter, Holdings Channel reports. The firm owned 18,760 shares of the biotechnology company’s stock after buying an additional 3,840 shares during the period. Teacher Retirement System of Texas’ holdings in Blueprint Medicines were worth $1,636,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of BPMC. Wellington Management Group LLP raised its position in Blueprint Medicines by 22.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company’s stock valued at $366,726,000 after purchasing an additional 729,055 shares in the last quarter. State Street Corp raised its holdings in shares of Blueprint Medicines by 16.2% in the third quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock valued at $255,827,000 after acquiring an additional 385,818 shares in the last quarter. William Blair Investment Management LLC lifted its stake in Blueprint Medicines by 16.1% in the fourth quarter. William Blair Investment Management LLC now owns 1,944,695 shares of the biotechnology company’s stock worth $169,616,000 after acquiring an additional 269,896 shares during the period. Geode Capital Management LLC lifted its stake in Blueprint Medicines by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,480,187 shares of the biotechnology company’s stock worth $136,942,000 after acquiring an additional 20,703 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Blueprint Medicines by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 604,397 shares of the biotechnology company’s stock worth $52,716,000 after acquiring an additional 7,165 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BPMC shares. Morgan Stanley initiated coverage on shares of Blueprint Medicines in a report on Thursday, March 20th. They issued an “equal weight” rating and a $100.00 price target for the company. Piper Sandler boosted their price objective on shares of Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Scotiabank initiated coverage on Blueprint Medicines in a research report on Friday, March 7th. They set a “sector outperform” rating and a $150.00 target price on the stock. Wedbush reiterated an “outperform” rating and issued a $128.00 price target on shares of Blueprint Medicines in a report on Friday, February 28th. Finally, Guggenheim restated a “buy” rating on shares of Blueprint Medicines in a research note on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Blueprint Medicines has an average rating of “Moderate Buy” and a consensus target price of $124.95.

Blueprint Medicines Price Performance

Shares of BPMC opened at $89.73 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80. The company’s fifty day moving average price is $98.55 and its 200-day moving average price is $93.92. Blueprint Medicines Co. has a 1-year low of $80.68 and a 1-year high of $121.90. The firm has a market capitalization of $5.73 billion, a PE ratio of -83.08 and a beta of 0.58.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. On average, equities research analysts predict that Blueprint Medicines Co. will post -1.28 EPS for the current year.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 5,000 shares of Blueprint Medicines stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $102.28, for a total transaction of $511,400.00. Following the completion of the sale, the director now directly owns 157,557 shares in the company, valued at approximately $16,114,929.96. The trade was a 3.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Kate Haviland sold 1,446 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $110.24, for a total transaction of $159,407.04. Following the completion of the sale, the chief executive officer now directly owns 149,378 shares in the company, valued at $16,467,430.72. This trade represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,608 shares of company stock worth $3,319,587 over the last quarter. Insiders own 4.21% of the company’s stock.

Blueprint Medicines Company Profile

Blueprint Medicines Corporation, a precision therapy company, develops medicines for genomically defined cancers and blood disorders in the United States and internationally. The company is developing AYVAKIT for the treatment of systemic mastocytosis (SM) and gastrointestinal stromal tumors; BLU-263, an orally available, potent, and KIT inhibitor for the treatment of indolent SM, and other mast cell disorders.