Peregrine Capital Management LLC Acquires 1,761 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Peregrine Capital Management LLC raised its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 1.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,812 shares of the biotechnology company’s stock after purchasing an additional 1,761 shares during the period. Peregrine Capital Management LLC owned 0.16% of Blueprint Medicines worth $8,618,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BPMC. Venturi Wealth Management LLC purchased a new stake in Blueprint Medicines in the fourth quarter worth $131,000. Truist Financial Corp bought a new position in Blueprint Medicines in the 4th quarter worth $221,000. Principal Financial Group Inc. lifted its position in shares of Blueprint Medicines by 46.6% in the 4th quarter. Principal Financial Group Inc. now owns 16,183 shares of the biotechnology company’s stock worth $1,411,000 after purchasing an additional 5,145 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in shares of Blueprint Medicines by 12.2% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 25,626 shares of the biotechnology company’s stock valued at $2,235,000 after purchasing an additional 2,780 shares in the last quarter. Finally, Asset Management One Co. Ltd. purchased a new position in shares of Blueprint Medicines during the fourth quarter valued at about $88,000.

Analysts Set New Price Targets

BPMC has been the topic of several research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $133.00 price objective on shares of Blueprint Medicines in a research report on Thursday, February 13th. Wedbush restated an “outperform” rating and set a $128.00 price target (up from $124.00) on shares of Blueprint Medicines in a research report on Thursday, February 13th. JPMorgan Chase & Co. increased their price objective on Blueprint Medicines from $126.00 to $129.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. HC Wainwright restated a “buy” rating and set a $135.00 target price on shares of Blueprint Medicines in a report on Friday. Finally, Piper Sandler increased their price target on shares of Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Blueprint Medicines has an average rating of “Moderate Buy” and an average price target of $123.83.

Blueprint Medicines Stock Performance

Shares of NASDAQ BPMC opened at $93.94 on Tuesday. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09. Blueprint Medicines Co. has a 12-month low of $77.57 and a 12-month high of $121.90. The firm has a market capitalization of $5.97 billion, a price-to-earnings ratio of -44.52 and a beta of 0.62. The firm has a 50 day moving average of $99.60 and a 200 day moving average of $94.43.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. On average, research analysts anticipate that Blueprint Medicines Co. will post -3.63 earnings per share for the current year.

Insiders Place Their Bets

In other Blueprint Medicines news, CEO Kate Haviland sold 1,446 shares of Blueprint Medicines stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $110.24, for a total transaction of $159,407.04. Following the transaction, the chief executive officer now owns 149,378 shares of the company’s stock, valued at $16,467,430.72. The trade was a 0.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ariel Hurley sold 1,819 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $93.26, for a total transaction of $169,639.94. Following the completion of the sale, the insider now directly owns 14,967 shares of the company’s stock, valued at approximately $1,395,822.42. This trade represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,851 shares of company stock worth $4,984,696 over the last quarter. 4.21% of the stock is currently owned by corporate insiders.

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.