Synovus Financial Corp Has $2.22 Million Stock Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Synovus Financial Corp raised its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 4.0% during the third quarter, Holdings Channel reports. The institutional investor owned 24,047 shares of the biotechnology company’s stock after buying an additional 922 shares during the quarter. Synovus Financial Corp’s holdings in Blueprint Medicines were worth $2,224,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BPMC. Hsbc Holdings PLC acquired a new stake in Blueprint Medicines in the second quarter worth about $1,060,000. Federated Hermes Inc. grew its position in shares of Blueprint Medicines by 27.8% during the 2nd quarter. Federated Hermes Inc. now owns 62,354 shares of the biotechnology company’s stock worth $6,721,000 after buying an additional 13,579 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Blueprint Medicines by 48.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 252,236 shares of the biotechnology company’s stock worth $23,332,000 after buying an additional 82,693 shares during the last quarter. Nicholas Investment Partners LP acquired a new position in Blueprint Medicines in the second quarter valued at approximately $4,377,000. Finally, Entropy Technologies LP bought a new position in Blueprint Medicines in the third quarter valued at approximately $999,000.

Analyst Upgrades and Downgrades

BPMC has been the subject of several recent research reports. UBS Group began coverage on shares of Blueprint Medicines in a research report on Thursday, October 24th. They set a “neutral” rating and a $88.00 target price for the company. Wells Fargo & Company cut their target price on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. JMP Securities restated a “market outperform” rating and set a $125.00 target price on shares of Blueprint Medicines in a research report on Monday, December 9th. Needham & Company LLC reiterated a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a research report on Friday, November 15th. Finally, HC Wainwright restated a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.11.

Insider Transactions at Blueprint Medicines

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $95.10, for a total transaction of $216,257.40. Following the sale, the chief operating officer now directly owns 71,657 shares of the company’s stock, valued at $6,814,580.70. The trade was a 3.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Kate Haviland sold 2,353 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $96.60, for a total transaction of $227,299.80. Following the transaction, the chief executive officer now owns 150,824 shares of the company’s stock, valued at approximately $14,569,598.40. This represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,260 shares of company stock valued at $768,057 over the last 90 days. 4.21% of the stock is owned by corporate insiders.

Blueprint Medicines Stock Performance

Shares of Blueprint Medicines stock opened at $93.19 on Monday. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. The firm has a market cap of $5.92 billion, a price-to-earnings ratio of -44.17 and a beta of 0.59. Blueprint Medicines Co. has a one year low of $72.24 and a one year high of $121.90. The stock’s 50-day moving average is $92.03 and its 200-day moving average is $97.47.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, beating the consensus estimate of ($0.97) by $0.08. The firm had revenue of $128.20 million for the quarter, compared to analysts’ expectations of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The business’s quarterly revenue was up 126.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($2.20) EPS. Equities analysts predict that Blueprint Medicines Co. will post -3.68 earnings per share for the current fiscal year.

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.