Bank of America Corp DE raised its stake in Blueprint Medicines Corporation (NASDAQ:BPMC) by 105.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,090 shares of the biotechnology company’s stock after buying an additional 4,144 shares during the period. Bank of America Corp DE’s holdings in Blueprint Medicines Corporation were worth $324,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Trexquant Investment LP acquired a new stake in Blueprint Medicines Corporation during the first quarter valued at about $230,000. Parametric Portfolio Associates LLC acquired a new stake in Blueprint Medicines Corporation during the first quarter valued at about $375,000. TD Asset Management Inc. boosted its stake in Blueprint Medicines Corporation by 141.6% in the first quarter. TD Asset Management Inc. now owns 41,654 shares of the biotechnology company’s stock valued at $1,666,000 after buying an additional 24,415 shares in the last quarter. UBS Asset Management Americas Inc. acquired a new stake in Blueprint Medicines Corporation during the first quarter valued at about $201,000. Finally, Swiss National Bank boosted its stake in Blueprint Medicines Corporation by 12.1% in the first quarter. Swiss National Bank now owns 46,300 shares of the biotechnology company’s stock valued at $1,852,000 after buying an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 90.71% of the company’s stock.

Shares of Blueprint Medicines Corporation (NASDAQ BPMC) traded up 0.89% during trading on Wednesday, reaching $53.43. The company had a trading volume of 77,889 shares. Blueprint Medicines Corporation has a 52 week low of $25.08 and a 52 week high of $56.81. The stock’s 50-day moving average price is $50.46 and its 200-day moving average price is $43.46. The company’s market capitalization is $2.09 billion.

Blueprint Medicines Corporation (NASDAQ:BPMC) last announced its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.86) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.75) by $0.11. The company had revenue of $5.89 million during the quarter, compared to analyst estimates of $5.96 million. Blueprint Medicines Corporation had a negative net margin of 388.91% and a negative return on equity of 45.58%. The firm’s revenue for the quarter was down 16.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.70) EPS. On average, equities analysts expect that Blueprint Medicines Corporation will post ($3.59) EPS for the current fiscal year.

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Several analysts recently issued reports on the company. Zacks Investment Research upgraded Blueprint Medicines Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. BidaskClub upgraded Blueprint Medicines Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Canaccord Genuity set a $56.00 target price on Blueprint Medicines Corporation and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC increased their target price on Blueprint Medicines Corporation from $42.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, May 4th. Finally, Wedbush reiterated an “outperform” rating and set a $66.00 target price on shares of Blueprint Medicines Corporation in a research report on Tuesday, August 22nd. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $49.27.

In other Blueprint Medicines Corporation news, CEO Jeffrey W. Albers sold 20,000 shares of Blueprint Medicines Corporation stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $50.47, for a total value of $1,009,400.00. Following the transaction, the chief executive officer now owns 47,920 shares in the company, valued at approximately $2,418,522.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daniel Lynch sold 32,500 shares of Blueprint Medicines Corporation stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $50.28, for a total transaction of $1,634,100.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 128,622 shares of company stock worth $6,484,605. 3.40% of the stock is owned by company insiders.

About Blueprint Medicines Corporation

Blueprint Medicines Corporation is a biopharmaceutical company. The Company focuses on patients with genomically defined diseases driven by abnormal kinase activation. It focuses on crafting drug candidates that provide clinical responses to patients without adequate treatment options. It has developed a small molecule drug pipeline in cancer and a genetic disease.

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Institutional Ownership by Quarter for Blueprint Medicines Corporation (NASDAQ:BPMC)

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