Northern Trust Corp Acquires 726 Shares of Blueprint Medicines Corp (BPMC)
Northern Trust Corp increased its holdings in Blueprint Medicines Corp (NASDAQ:BPMC) by 0.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 497,135 shares of the biotechnology company’s stock after purchasing an additional 726 shares during the period. Northern Trust Corp’s holdings in Blueprint Medicines were worth $45,588,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Geode Capital Management LLC raised its position in Blueprint Medicines by 10.6% in the fourth quarter. Geode Capital Management LLC now owns 369,391 shares of the biotechnology company’s stock worth $27,855,000 after purchasing an additional 35,455 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Blueprint Medicines by 57.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,866 shares of the biotechnology company’s stock worth $141,000 after purchasing an additional 680 shares in the last quarter. Alkeon Capital Management LLC acquired a new position in Blueprint Medicines in the fourth quarter worth about $754,000. Bank of New York Mellon Corp raised its position in Blueprint Medicines by 10.2% in the fourth quarter. Bank of New York Mellon Corp now owns 193,937 shares of the biotechnology company’s stock worth $14,624,000 after purchasing an additional 17,908 shares in the last quarter. Finally, Virtus Fund Advisers LLC acquired a new position in Blueprint Medicines in the fourth quarter worth about $348,000. 97.64% of the stock is owned by hedge funds and other institutional investors.
In other news, Director George Demetri sold 5,492 shares of the stock in a transaction that occurred on Monday, March 19th. The shares were sold at an average price of $100.09, for a total transaction of $549,694.28. Following the sale, the director now directly owns 10,231 shares of the company’s stock, valued at $1,024,020.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Marion Dorsch sold 2,300 shares of the stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $100.07, for a total transaction of $230,161.00. Following the sale, the insider now directly owns 2,300 shares in the company, valued at $230,161. The disclosure for this sale can be found here. Insiders have sold 27,792 shares of company stock worth $2,357,855 over the last three months. 3.15% of the stock is owned by insiders.
Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Wednesday, May 2nd. The biotechnology company reported ($1.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.06) by ($0.23). The firm had revenue of $0.95 million for the quarter, compared to the consensus estimate of $2.82 million. Blueprint Medicines had a negative return on equity of 37.00% and a negative net margin of 1,068.27%. Blueprint Medicines’s quarterly revenue was down 83.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.84) earnings per share. equities analysts anticipate that Blueprint Medicines Corp will post -5.39 EPS for the current year.
BPMC has been the subject of several recent research reports. JMP Securities set a $109.00 price target on shares of Blueprint Medicines and gave the stock a “buy” rating in a research report on Monday, April 16th. Zacks Investment Research cut shares of Blueprint Medicines from a “hold” rating to a “sell” rating in a research note on Monday, May 7th. BidaskClub cut shares of Blueprint Medicines from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 29th. Cowen reaffirmed a “buy” rating on shares of Blueprint Medicines in a research note on Wednesday, February 21st. Finally, Wedbush upped their price objective on shares of Blueprint Medicines from $98.00 to $106.00 and gave the stock an “outperform” rating in a research note on Monday, April 16th. One analyst has rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $87.20.
Blueprint Medicines Profile
Blueprint Medicines Corporation, a biopharmaceutical company, 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 is in Phase I clinical trials that targets KIT Exon 17 mutant proteins and PDGFRa D842V mutations, that are drivers of cancer and proliferative disorders, including gastrointestinal stromal tumors and systemic mastocytosis; 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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