Russell Investments Group Ltd. Purchases 16,874 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Russell Investments Group Ltd. increased its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 15.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 125,902 shares of the biotechnology company’s stock after purchasing an additional 16,874 shares during the quarter. Russell Investments Group Ltd.’s holdings in Blueprint Medicines were worth $10,981,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. R Squared Ltd acquired a new position in shares of Blueprint Medicines in the fourth quarter valued at $51,000. Headlands Technologies LLC acquired a new position in Blueprint Medicines in the 4th quarter valued at about $65,000. Asset Management One Co. Ltd. bought a new position in Blueprint Medicines in the 4th quarter valued at about $88,000. Van ECK Associates Corp raised its holdings in Blueprint Medicines by 48.2% in the 4th quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $97,000 after acquiring an additional 363 shares during the period. Finally, Venturi Wealth Management LLC acquired a new stake in Blueprint Medicines during the fourth quarter worth approximately $131,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BPMC shares. Scotiabank began coverage on Blueprint Medicines in a research note on Friday, March 7th. They set a “sector outperform” rating and a $150.00 target price on the stock. Jefferies Financial Group started coverage on Blueprint Medicines in a report on Monday, March 17th. They set a “buy” rating and a $135.00 target price for the company. Piper Sandler boosted their target price on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $133.00 price target on shares of Blueprint Medicines in a research report on Tuesday. Finally, Stephens reiterated an “overweight” rating and issued a $140.00 price objective on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $124.95.

Insider Transactions at Blueprint Medicines

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $110.14, for a total value of $250,458.36. Following the completion of the transaction, the chief operating officer now directly owns 67,109 shares in the company, valued at approximately $7,391,385.26. This represents a 3.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ariel Hurley sold 2,250 shares of Blueprint Medicines stock in a transaction on Monday, January 13th. The stock was sold at an average price of $100.00, for a total transaction of $225,000.00. Following the transaction, the insider now owns 14,967 shares in the company, valued at approximately $1,496,700. This trade represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,608 shares of company stock worth $3,319,587. Corporate insiders own 4.21% of the company’s stock.

Blueprint Medicines Stock Up 0.7 %

Shares of NASDAQ BPMC opened at $80.84 on Friday. The stock has a 50-day moving average price of $90.91 and a two-hundred day moving average price of $93.51. Blueprint Medicines Co. has a 12 month low of $73.04 and a 12 month high of $121.90. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. The company has a market cap of $5.17 billion, a price-to-earnings ratio of -74.85 and a beta of 0.75.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (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%. As a group, analysts forecast that Blueprint Medicines Co. will post -1.28 earnings per share for the current fiscal year.

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 indolent SM, and other mast cell disorders.