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

Bellevue Group AG reduced its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 37.3% during the third quarter, HoldingsChannel.com reports. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. American Century Companies Inc. increased its holdings in Blueprint Medicines by 4.2% during the second quarter. American Century Companies Inc. now owns 802,733 shares of the biotechnology company’s stock valued at $86,519,000 after buying an additional 32,600 shares during the last quarter. Millennium Management LLC grew its position in shares of Blueprint Medicines by 540.0% during the 2nd quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company’s stock valued at $67,646,000 after acquiring an additional 529,566 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Blueprint Medicines by 9.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 597,232 shares of the biotechnology company’s stock worth $55,244,000 after purchasing an additional 50,736 shares in the last quarter. Hood River Capital Management LLC raised its holdings in Blueprint Medicines by 7.0% in the 2nd quarter. Hood River Capital Management LLC now owns 502,820 shares of the biotechnology company’s stock worth $54,194,000 after purchasing an additional 32,694 shares during the period. Finally, 1832 Asset Management L.P. lifted its position in Blueprint Medicines by 200,159.4% during the second quarter. 1832 Asset Management L.P. now owns 502,651 shares of the biotechnology company’s stock valued at $54,176,000 after purchasing an additional 502,400 shares in the last quarter.

Insider Transactions at Blueprint Medicines

In other news, insider Fouad Namouni sold 3,633 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total value of $324,499.56. Following the completion of the sale, the insider now directly owns 69,070 shares of the company’s stock, valued at $6,169,332.40. This trade represents a 5.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 4.21% of the company’s stock.

Analysts Set New Price Targets

BPMC has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price target on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. HC Wainwright reissued a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a report on Friday, November 15th. UBS Group started coverage on shares of Blueprint Medicines in a research note on Thursday, October 24th. They set a “neutral” rating and a $88.00 target price on the stock. Wedbush reiterated an “outperform” rating and issued a $135.00 price target on shares of Blueprint Medicines in a research report on Thursday, November 14th. Finally, StockNews.com raised shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $122.11.

Blueprint Medicines Stock Performance

NASDAQ BPMC opened at $96.38 on Monday. The stock has a market capitalization of $6.12 billion, a PE ratio of -45.68 and a beta of 0.59. Blueprint Medicines Co. has a 1-year low of $68.28 and a 1-year high of $121.90. The business has a 50 day simple moving average of $90.97 and a two-hundred day simple moving average of $98.10. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27.

Blueprint Medicines (NASDAQ:BPMC) last posted its earnings results 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 firm had revenue of $128.20 million during the quarter, compared to analyst estimates of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. Blueprint Medicines’s revenue for the quarter was up 126.5% compared to the same quarter last year. During the same period last year, the firm posted ($2.20) earnings per share. On average, research analysts predict that Blueprint Medicines Co. will post -3.68 EPS for the current fiscal year.

Blueprint Medicines Company 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.