Blueprint Medicines Co. (NASDAQ:BPMC) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC lowered its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 13.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,565 shares of the biotechnology company’s stock after selling 550 shares during the quarter. NewEdge Wealth LLC’s holdings in Blueprint Medicines were worth $329,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BPMC. Price T Rowe Associates Inc. MD increased its stake in shares of Blueprint Medicines by 15.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,948,434 shares of the biotechnology company’s stock valued at $222,631,000 after acquiring an additional 649,144 shares during the last quarter. Norges Bank purchased a new stake in shares of Blueprint Medicines during the 4th quarter worth about $27,778,000. Polar Capital Holdings Plc grew its holdings in shares of Blueprint Medicines by 108.0% during the 3rd quarter. Polar Capital Holdings Plc now owns 1,040,000 shares of the biotechnology company’s stock worth $52,229,000 after purchasing an additional 540,000 shares during the period. State Street Corp grew its holdings in shares of Blueprint Medicines by 30.9% during the 1st quarter. State Street Corp now owns 2,266,894 shares of the biotechnology company’s stock worth $144,809,000 after purchasing an additional 535,424 shares during the period. Finally, Marshall Wace LLP purchased a new stake in shares of Blueprint Medicines during the 4th quarter worth about $23,195,000.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Raymond James boosted their target price on Blueprint Medicines from $85.00 to $100.00 and gave the stock a “strong-buy” rating in a report on Friday, December 22nd. Needham & Company LLC restated a “buy” rating and issued a $97.00 price target on shares of Blueprint Medicines in a report on Monday, February 26th. Stifel Nicolaus upped their price target on Blueprint Medicines from $95.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. JMP Securities reiterated a “market outperform” rating and set a $114.00 target price on shares of Blueprint Medicines in a research note on Wednesday, April 10th. Finally, Citigroup increased their target price on Blueprint Medicines from $54.00 to $65.00 and gave the company a “sell” rating in a research note on Friday, February 16th. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $85.43.

Blueprint Medicines Price Performance

Shares of NASDAQ BPMC opened at $88.38 on Thursday. Blueprint Medicines Co. has a 1-year low of $43.89 and a 1-year high of $101.00. The company has a debt-to-equity ratio of 1.60, a current ratio of 3.76 and a quick ratio of 3.66. The business’s fifty day moving average price is $89.22 and its two-hundred day moving average price is $76.96. The firm has a market capitalization of $5.41 billion, a PE ratio of -10.57 and a beta of 0.63.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, topping the consensus estimate of ($2.04) by $0.22. Blueprint Medicines had a negative return on equity of 191.56% and a negative net margin of 203.30%. The firm had revenue of $71.96 million for the quarter, compared to analyst estimates of $67.34 million. During the same period last year, the company earned ($2.65) earnings per share. The firm’s revenue for the quarter was up 85.5% on a year-over-year basis. On average, research analysts expect that Blueprint Medicines Co. will post -5.42 EPS for the current year.

Insiders Place Their Bets

In other news, Director Jeffrey W. Albers sold 25,000 shares of the firm’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $81.91, for a total transaction of $2,047,750.00. Following the transaction, the director now directly owns 176,050 shares of the company’s stock, valued at $14,420,255.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Kate Haviland sold 12,464 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $90.69, for a total transaction of $1,130,360.16. Following the transaction, the chief executive officer now directly owns 153,177 shares of the company’s stock, valued at $13,891,622.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey W. Albers sold 25,000 shares of the firm’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $81.91, for a total value of $2,047,750.00. Following the transaction, the director now directly owns 176,050 shares in the company, valued at $14,420,255.50. The disclosure for this sale can be found here. Insiders have sold 117,289 shares of company stock valued at $10,361,913 over the last three months. Company insiders own 3.88% of the company’s stock.

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.