Bellevue Group AG Decreases Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Bellevue Group AG trimmed its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 37.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,200 shares of the biotechnology company’s stock after selling 1,900 shares during the period. Bellevue Group AG’s holdings in Blueprint Medicines were worth $296,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Edgestream Partners L.P. boosted its holdings in Blueprint Medicines by 443.7% during the 3rd quarter. Edgestream Partners L.P. now owns 56,123 shares of the biotechnology company’s stock valued at $5,191,000 after acquiring an additional 45,800 shares during the period. Eventide Asset Management LLC lifted its position in Blueprint Medicines by 50.5% in the third quarter. Eventide Asset Management LLC now owns 348,704 shares of the biotechnology company’s stock valued at $32,255,000 after purchasing an additional 117,019 shares during the last quarter. Verition Fund Management LLC boosted its stake in shares of Blueprint Medicines by 77.5% during the third quarter. Verition Fund Management LLC now owns 9,759 shares of the biotechnology company’s stock valued at $903,000 after purchasing an additional 4,260 shares during the period. Captrust Financial Advisors grew its holdings in shares of Blueprint Medicines by 3.4% in the third quarter. Captrust Financial Advisors now owns 17,904 shares of the biotechnology company’s stock worth $1,656,000 after purchasing an additional 582 shares during the last quarter. Finally, Martingale Asset Management L P increased its stake in shares of Blueprint Medicines by 7.6% in the third quarter. Martingale Asset Management L P now owns 15,603 shares of the biotechnology company’s stock worth $1,443,000 after buying an additional 1,098 shares during the period.

Insider Activity

In other news, insider Fouad Namouni sold 3,633 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total value of $324,499.56. Following the transaction, the insider now owns 69,070 shares in the company, valued at approximately $6,169,332.40. This represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 4.21% of the company’s stock.

Wall Street Analysts Forecast Growth

BPMC has been the subject of several analyst reports. JPMorgan Chase & Co. began coverage on shares of Blueprint Medicines in a research report on Thursday, November 14th. They set an “overweight” rating and a $126.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $135.00 target price on shares of Blueprint Medicines in a report on Friday, November 15th. 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. UBS Group began coverage on Blueprint Medicines in a research report on Thursday, October 24th. They set a “neutral” rating and a $88.00 price target for the company. Finally, JMP Securities reiterated a “market outperform” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating, seven have assigned 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $122.11.

Blueprint Medicines Price Performance

Shares of NASDAQ BPMC opened at $96.38 on Monday. The company has a 50 day simple moving average of $90.97 and a two-hundred day simple moving average of $98.10. Blueprint Medicines Co. has a fifty-two week low of $68.28 and a fifty-two week high of $121.90. The company has a market capitalization of $6.12 billion, a price-to-earnings ratio of -45.68 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.08. The company had revenue of $128.20 million during the quarter, compared to analyst estimates of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The firm’s revenue for the quarter was up 126.5% on a year-over-year basis. During the same quarter last year, the company earned ($2.20) EPS. Analysts expect that Blueprint Medicines Co. will post -3.68 EPS 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.