Blueprint Medicines Co. (NASDAQ:BPMC) Stake Lowered by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust decreased its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 11.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 278,333 shares of the biotechnology company’s stock after selling 37,486 shares during the quarter. Blueprint Medicines makes up approximately 1.6% of Emerald Mutual Fund Advisers Trust’s portfolio, making the stock its 10th biggest position. Emerald Mutual Fund Advisers Trust owned approximately 0.44% of Blueprint Medicines worth $29,999,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BPMC. Gilbert & Cook Inc. lifted its position in shares of Blueprint Medicines by 8.5% during the 4th quarter. Gilbert & Cook Inc. now owns 4,846 shares of the biotechnology company’s stock worth $447,000 after buying an additional 380 shares during the last quarter. Van ECK Associates Corp boosted its stake 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 acquiring an additional 193 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of 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. increased its position in shares of 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 in the last quarter. Finally, Calton & Associates Inc. purchased a new stake in shares of Blueprint Medicines in the 4th quarter valued at about $224,000.

Insiders Place Their Bets

In other news, insider Philina Lee sold 41,913 shares of the 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 sale, the insider now directly owns 34,729 shares in the company, valued at $3,236,395.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Philina Lee sold 41,913 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $93.19, for a total value of $3,905,872.47. Following the sale, the insider now directly owns 34,729 shares in the company, valued at $3,236,395.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Debra Durso-Bumpus sold 3,850 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $111.20, for a total value of $428,120.00. Following the sale, the insider now directly owns 43,763 shares in the company, valued at approximately $4,866,445.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 128,947 shares of company stock worth $13,065,852. Insiders own 4.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BPMC. Guggenheim raised their price target on Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and issued a $130.00 price objective on shares of Blueprint Medicines in a research note on Thursday, August 1st. Morgan Stanley increased their target price on shares of Blueprint Medicines from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Friday, July 12th. JMP Securities reiterated a “market outperform” rating and issued a $125.00 target price on shares of Blueprint Medicines in a research note on Friday, June 7th. Finally, Robert W. Baird upped their price target on Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $120.00.

Blueprint Medicines Stock Performance

NASDAQ BPMC opened at $86.43 on Friday. The business has a 50 day moving average price of $102.87 and a 200 day moving average price of $99.35. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.71 and a quick ratio of 3.65. The company has a market capitalization of $5.41 billion, a P/E ratio of -17.97 and a beta of 0.58. Blueprint Medicines Co. has a 1-year low of $43.89 and a 1-year high of $121.90.

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