Blueprint Medicines Corp (NASDAQ:BPMC) rose 7.2% during mid-day trading on Thursday . The company traded as high as $82.76 and last traded at $82.30. Approximately 795,355 shares traded hands during trading, an increase of 84% from the average daily volume of 432,731 shares. The stock had previously closed at $76.76.
Several research firms have weighed in on BPMC. Zacks Investment Research cut Blueprint Medicines from a “hold” rating to a “sell” rating in a research note on Tuesday, January 15th. BidaskClub upgraded Blueprint Medicines from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 31st. Morgan Stanley began coverage on Blueprint Medicines in a research note on Wednesday, April 3rd. They set an “overweight” rating and a $112.00 target price for the company. ValuEngine upgraded Blueprint Medicines from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, Wedbush restated an “outperform” rating on shares of Blueprint Medicines in a research note on Tuesday, February 26th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $102.17.
The company has a debt-to-equity ratio of 0.03, a current ratio of 8.29 and a quick ratio of 8.29. The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of -15.52 and a beta of 1.53.
In other news, COO Kate Haviland sold 21,644 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $85.05, for a total value of $1,840,822.20. Following the completion of the transaction, the chief operating officer now directly owns 20,018 shares in the company, valued at approximately $1,702,530.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey W. Albers sold 20,000 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $86.39, for a total value of $1,727,800.00. Following the completion of the transaction, the chief executive officer now owns 48,961 shares of the company’s stock, valued at $4,229,740.79. The disclosure for this sale can be found here. Insiders sold a total of 44,359 shares of company stock valued at $3,798,843 over the last quarter. 3.15% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Advisor Group Inc. lifted its stake in shares of Blueprint Medicines by 101.6% in the 1st quarter. Advisor Group Inc. now owns 379 shares of the biotechnology company’s stock valued at $30,000 after acquiring an additional 191 shares during the last quarter. US Bancorp DE lifted its stake in shares of Blueprint Medicines by 42.7% in the 1st quarter. US Bancorp DE now owns 668 shares of the biotechnology company’s stock valued at $53,000 after acquiring an additional 200 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in shares of Blueprint Medicines by 24.2% in the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,000 shares of the biotechnology company’s stock valued at $107,000 after acquiring an additional 390 shares during the last quarter. NumerixS Investment Technologies Inc bought a new position in shares of Blueprint Medicines in the 1st quarter valued at $30,000. Finally, Partner Investment Management L.P. lifted its stake in shares of Blueprint Medicines by 3.2% in the 4th quarter. Partner Investment Management L.P. now owns 15,932 shares of the biotechnology company’s stock valued at $859,000 after acquiring an additional 495 shares during the last quarter. Institutional investors own 93.69% of the company’s stock.
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About Blueprint Medicines (NASDAQ:BPMC)
Blueprint Medicines Corporation 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 completed Phase I clinical trials that targets PDGFRA Exon 18 mutant GIST and KIT-driven GIST; 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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