Teacher Retirement System of Texas Grows Stock Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Teacher Retirement System of Texas lifted its holdings in Blueprint Medicines Co. (NASDAQ:BPMC) by 25.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,760 shares of the biotechnology company’s stock after purchasing an additional 3,840 shares during the period. Teacher Retirement System of Texas’ holdings in Blueprint Medicines were worth $1,636,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Blueprint Medicines in the third quarter worth about $475,000. Advisors Asset Management Inc. increased its holdings in Blueprint Medicines by 17.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 5,054 shares of the biotechnology company’s stock worth $467,000 after acquiring an additional 756 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Blueprint Medicines by 9.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 597,232 shares of the biotechnology company’s stock worth $55,244,000 after acquiring an additional 50,736 shares during the period. Citigroup Inc. lifted its holdings in Blueprint Medicines by 19.3% during the third quarter. Citigroup Inc. now owns 143,441 shares of the biotechnology company’s stock valued at $13,268,000 after purchasing an additional 23,189 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Blueprint Medicines in the third quarter worth approximately $108,000.

Blueprint Medicines Stock Performance

NASDAQ:BPMC opened at $89.73 on Friday. The firm has a market capitalization of $5.73 billion, a PE ratio of -83.08 and a beta of 0.58. The stock’s fifty day moving average is $98.55 and its 200 day moving average is $93.92. Blueprint Medicines Co. has a fifty-two week low of $80.68 and a fifty-two week high of $121.90. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. On average, sell-side analysts anticipate that Blueprint Medicines Co. will post -1.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BPMC has been the topic of several recent analyst reports. Piper Sandler raised their price objective 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. Wolfe Research started coverage on Blueprint Medicines in a research report on Tuesday, March 18th. They issued an “outperform” rating on the stock. StockNews.com lowered Blueprint Medicines from a “hold” rating to a “sell” rating in a research note on Monday, March 3rd. Morgan Stanley assumed coverage on Blueprint Medicines in a research note on Thursday, March 20th. They set an “equal weight” rating and a $100.00 target price on the stock. Finally, JMP Securities restated a “market outperform” rating and issued a $125.00 price target on shares of Blueprint Medicines in a research note on Friday, February 14th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Blueprint Medicines currently has a consensus rating of “Moderate Buy” and an average target price of $124.95.

Insider Buying and Selling

In other news, Director Jeffrey W. Albers sold 15,161 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $109.53, for a total transaction of $1,660,584.33. Following the transaction, the director now owns 152,396 shares of the company’s stock, valued at approximately $16,691,933.88. This represents a 9.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ariel Hurley sold 2,250 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $100.00, for a total value of $225,000.00. Following the sale, the insider now directly owns 14,967 shares of the company’s stock, valued at $1,496,700. This represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,608 shares of company stock valued at $3,319,587 in the last ninety days. 4.21% of the stock is owned by company insiders.

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.