Principal Financial Group Inc. Boosts Stock Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Principal Financial Group Inc. lifted its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 331.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,670 shares of the biotechnology company’s stock after purchasing an additional 48,160 shares during the period. Principal Financial Group Inc. owned 0.10% of Blueprint Medicines worth $5,945,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Compass Wealth Management LLC bought a new position in Blueprint Medicines in the fourth quarter worth about $69,000. Van ECK Associates Corp increased its stake in shares of Blueprint Medicines by 28.4% during the fourth quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock valued at $80,000 after purchasing an additional 193 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Blueprint Medicines during the fourth quarter valued at approximately $95,000. Allspring Global Investments Holdings LLC bought a new position in shares of Blueprint Medicines during the first quarter valued at approximately $218,000. Finally, Calton & Associates Inc. bought a new position in shares of Blueprint Medicines during the fourth quarter valued at approximately $224,000.

Blueprint Medicines Trading Up 0.5 %

Shares of BPMC stock traded up $0.55 during trading hours on Friday, reaching $109.58. 63,637 shares of the stock were exchanged, compared to its average volume of 706,049. Blueprint Medicines Co. has a 12-month low of $43.89 and a 12-month high of $111.89. The company has a current ratio of 3.76, a quick ratio of 3.61 and a debt-to-equity ratio of 0.67. The company’s 50-day moving average price is $104.71 and its 200-day moving average price is $93.30. The firm has a market capitalization of $6.86 billion, a price-to-earnings ratio of -22.67 and a beta of 0.63.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported ($1.32) EPS for the quarter, topping analysts’ consensus estimates of ($1.64) by $0.32. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 193.48%. The firm had revenue of $96.12 million during the quarter, compared to analysts’ expectations of $82.58 million. As a group, equities analysts anticipate that Blueprint Medicines Co. will post -5.15 earnings per share for the current year.

Insider Buying and Selling at Blueprint Medicines

In other news, insider Debra Durso-Bumpus sold 74,034 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $104.19, for a total value of $7,713,602.46. Following the completion of the sale, the insider now owns 43,763 shares of the company’s stock, valued at approximately $4,559,666.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Ariel Hurley sold 1,834 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $103.88, for a total transaction of $190,515.92. Following the completion of the transaction, the insider now owns 14,913 shares in the company, valued at approximately $1,549,162.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Debra Durso-Bumpus sold 74,034 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $104.19, for a total transaction of $7,713,602.46. Following the transaction, the insider now owns 43,763 shares of the company’s stock, valued at approximately $4,559,666.97. The disclosure for this sale can be found here. Insiders sold a total of 129,231 shares of company stock valued at $13,547,878 in the last three months. Company insiders own 4.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Leerink Partnrs raised shares of Blueprint Medicines from an “underperform” rating to a “market perform” rating in a research note on Monday, May 6th. Needham & Company LLC reissued a “buy” rating and set a $130.00 price target on shares of Blueprint Medicines in a research report on Friday, June 28th. Stephens initiated coverage on shares of Blueprint Medicines in a research report on Tuesday, May 14th. They set an “overweight” rating and a $140.00 price target for the company. Barclays raised their price target on shares of Blueprint Medicines from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Finally, SVB Leerink raised shares of Blueprint Medicines from an “underperform” rating to a “market perform” rating and raised their price target for the company from $50.00 to $97.00 in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $110.20.

Blueprint Medicines 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.