Emerald Mutual Fund Advisers Trust Sells 37,486 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Emerald Mutual Fund Advisers Trust reduced its holdings in Blueprint Medicines Co. (NASDAQ:BPMC) by 11.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 278,333 shares of the biotechnology company’s stock after selling 37,486 shares during the quarter. Blueprint Medicines comprises approximately 1.6% of Emerald Mutual Fund Advisers Trust’s investment portfolio, making the stock its 10th biggest holding. Emerald Mutual Fund Advisers Trust’s holdings in Blueprint Medicines were worth $29,999,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Gilbert & Cook Inc. grew its holdings in Blueprint Medicines by 8.5% in the 4th quarter. Gilbert & Cook Inc. now owns 4,846 shares of the biotechnology company’s stock valued at $447,000 after buying an additional 380 shares during the period. Van ECK Associates Corp grew its holdings in Blueprint Medicines by 28.4% in the fourth quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock valued at $80,000 after purchasing an additional 193 shares during the period. Victory Capital Management Inc. increased its position in Blueprint Medicines by 1,906.0% during the fourth quarter. Victory Capital Management Inc. now owns 131,050 shares of the biotechnology company’s stock worth $12,088,000 after purchasing an additional 124,517 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Blueprint Medicines by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 476,063 shares of the biotechnology company’s stock worth $43,912,000 after purchasing an additional 7,646 shares during the period. Finally, Calton & Associates Inc. acquired a new position in shares of Blueprint Medicines in the 4th quarter valued at $224,000.

Blueprint Medicines Stock Performance

Blueprint Medicines stock opened at $86.43 on Friday. Blueprint Medicines Co. has a 52 week low of $43.89 and a 52 week high of $121.90. The company has a current ratio of 3.71, a quick ratio of 3.65 and a debt-to-equity ratio of 1.06. The stock has a market cap of $5.41 billion, a P/E ratio of -17.97 and a beta of 0.58. The stock has a 50 day moving average of $102.87 and a 200-day moving average of $99.35.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.29) by $0.49. Blueprint Medicines had a negative return on equity of 157.30% and a negative net margin of 56.64%. The business had revenue of $138.20 million for the quarter, compared to analyst estimates of $104.02 million. The business’s revenue was up 139.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($2.19) EPS. On average, analysts expect that Blueprint Medicines Co. will post -3.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Debra Durso-Bumpus sold 74,034 shares of Blueprint Medicines stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $104.19, for a total value of $7,713,602.46. Following the completion of the transaction, the insider now directly owns 43,763 shares of the company’s stock, valued at approximately $4,559,666.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Debra Durso-Bumpus sold 74,034 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $104.19, for a total value of $7,713,602.46. Following the sale, the insider now owns 43,763 shares of the company’s stock, valued at approximately $4,559,666.97. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Philina Lee sold 41,913 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $93.19, for a total value of $3,905,872.47. Following the transaction, the insider now owns 34,729 shares of the company’s stock, valued at approximately $3,236,395.51. The disclosure for this sale can be found here. Over the last three months, insiders have sold 128,947 shares of company stock valued at $13,065,852. Company insiders own 4.21% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on BPMC shares. Robert W. Baird increased their target price on Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Morgan Stanley lifted their price objective on Blueprint Medicines from $110.00 to $115.00 and gave the company an “equal weight” rating in a research note on Friday, July 12th. Barclays increased their target price on shares of Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 price target on shares of Blueprint Medicines in a research report on Thursday, August 1st. Finally, Guggenheim raised their target price on shares of Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Blueprint Medicines currently has a consensus rating of “Moderate Buy” and an average target price of $120.00.

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.