State of New Jersey Common Pension Fund D grew its holdings in Blueprint Medicines Co. (NASDAQ:BPMC – Get Rating) by 10.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,858 shares of the biotechnology company’s stock after purchasing an additional 3,727 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.07% of Blueprint Medicines worth $2,482,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Alliancebernstein L.P. grew its holdings in Blueprint Medicines by 7.6% during the 4th quarter. Alliancebernstein L.P. now owns 1,500,745 shares of the biotechnology company’s stock valued at $160,745,000 after buying an additional 106,541 shares in the last quarter. Candriam Luxembourg S.C.A. grew its stake in Blueprint Medicines by 12.6% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 352,243 shares of the biotechnology company’s stock valued at $37,728,000 after acquiring an additional 39,293 shares in the last quarter. Pictet Asset Management SA grew its stake in Blueprint Medicines by 14.6% during the fourth quarter. Pictet Asset Management SA now owns 1,066,612 shares of the biotechnology company’s stock valued at $114,245,000 after acquiring an additional 135,596 shares in the last quarter. Capital Impact Advisors LLC purchased a new position in Blueprint Medicines during the fourth quarter valued at approximately $821,000. Finally, Nisa Investment Advisors LLC grew its stake in Blueprint Medicines by 43.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,368 shares of the biotechnology company’s stock valued at $260,000 after acquiring an additional 1,025 shares in the last quarter. 99.69% of the stock is owned by institutional investors.
Blueprint Medicines Stock Down 0.9 %
NASDAQ:BPMC opened at $50.60 on Tuesday. The company has a fifty day moving average of $53.64 and a 200 day moving average of $61.47. Blueprint Medicines Co. has a 52 week low of $43.46 and a 52 week high of $117.86. The firm has a market capitalization of $3.01 billion, a P/E ratio of -4.58 and a beta of 0.94.
Analysts Set New Price Targets
Several brokerages recently commented on BPMC. Robert W. Baird reduced their price objective on shares of Blueprint Medicines from $123.00 to $96.00 in a research note on Wednesday, May 4th. JMP Securities reiterated a “buy” rating and set a $152.00 target price on shares of Blueprint Medicines in a research report on Thursday, June 9th. StockNews.com upgraded shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Monday, May 9th. HC Wainwright reiterated a “buy” rating and set a $100.00 target price on shares of Blueprint Medicines in a research report on Friday, June 10th. Finally, Citigroup lowered shares of Blueprint Medicines from a “neutral” rating to a “sell” rating and dropped their target price for the company from $68.00 to $41.00 in a research report on Thursday, June 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $88.86.
Insider Activity at Blueprint Medicines
In related news, insider Percy H. Carter sold 1,908 shares of the company’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $59.76, for a total transaction of $114,022.08. Following the completion of the sale, the insider now directly owns 28,685 shares in the company, valued at approximately $1,714,215.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.34% of the stock is currently owned by company insiders.
About Blueprint Medicines
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 non-advanced SM and other mast cell disorders; and Fisogatinib, an orally available and potent inhibitor for the treatment of hepatocellular carcinoma.
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