Victory Capital Management Inc. decreased its holdings in Blueprint Medicines Co. (NASDAQ:BPMC – Get Rating) by 98.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,203 shares of the biotechnology company's stock after selling 393,039 shares during the quarter. Victory Capital Management Inc.'s holdings in Blueprint Medicines were worth $420,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in BPMC. CWM LLC bought a new position in Blueprint Medicines in the 4th quarter valued at about $34,000. Exane Derivatives lifted its position in Blueprint Medicines by 45.8% in the 1st quarter. Exane Derivatives now owns 567 shares of the biotechnology company's stock valued at $36,000 after acquiring an additional 178 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in Blueprint Medicines by 414.2% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 617 shares of the biotechnology company's stock valued at $39,000 after acquiring an additional 497 shares in the last quarter. Covestor Ltd purchased a new stake in Blueprint Medicines in the 4th quarter valued at about $46,000. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Blueprint Medicines by 19.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 906 shares of the biotechnology company's stock valued at $97,000 after buying an additional 150 shares during the last quarter. Institutional investors own 99.69% of the company's stock.
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Blueprint Medicines Trading Up 8.7 %
Blueprint Medicines stock opened at $69.66 on Friday. Blueprint Medicines Co. has a 1-year low of $43.46 and a 1-year high of $117.86. The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of -5.87 and a beta of 0.94. The firm has a 50 day simple moving average of $56.37 and a 200 day simple moving average of $60.86.
Blueprint Medicines (NASDAQ:BPMC – Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The biotechnology company reported ($2.68) earnings per share for the quarter, missing analysts' consensus estimates of ($2.23) by ($0.45). Blueprint Medicines had a negative net
margin of 304.41% and a negative return on equity of 45.89%. The business had revenue of $36.55 million during the quarter, compared to analysts' expectations of $37.61 million. During the same quarter in the prior year, the firm posted ($1.86) earnings per share. The firm's quarterly revenue was up 33.9% on a year-over-year basis. On average, equities research analysts forecast that Blueprint Medicines Co. will post -9.18 EPS for the current year.
Insider Activity at Blueprint Medicines
In related news, SVP Christopher K. Murray sold 2,500 shares of Blueprint Medicines stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $60.44, for a total value of $151,100.00. Following the completion of the transaction, the senior vice president now directly owns 21,320 shares in the company, valued at approximately $1,288,580.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Blueprint Medicines news, insider Percy H. Carter sold 1,908 shares of the firm's stock in a transaction on Monday, June 6th. The shares were sold at an average price of $59.76, for a total value of $114,022.08. Following the completion of the transaction, the insider now directly owns 28,685 shares of the company's stock, valued at approximately $1,714,215.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Christopher K. Murray sold 2,500 shares of the firm's stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $60.44, for a total transaction of $151,100.00. Following the completion of the transaction, the senior vice president now directly owns 21,320 shares of the company's stock, valued at $1,288,580.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,408 shares of company stock worth $2,334,022. Corporate insiders own 3.42% of the company's stock.
Wall Street Analysts Forecast Growth
BPMC has been the subject of several analyst reports. JMP Securities reiterated a "buy" rating and issued a $152.00 price objective on shares of Blueprint Medicines in a research note on Thursday, June 9th. StockNews.com upgraded shares of Blueprint Medicines from a "sell" rating to a "hold" rating in a research note on Monday, May 9th. Robert W. Baird decreased their price objective on shares of Blueprint Medicines from $123.00 to $96.00 in a research note on Wednesday, May 4th. HC Wainwright decreased their price objective on shares of Blueprint Medicines from $100.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, Piper Sandler decreased their price objective on shares of Blueprint Medicines from $65.00 to $59.00 in a research note on Tuesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Blueprint Medicines has a consensus rating of "Moderate Buy" and an average target price of $90.27.
About Blueprint Medicines
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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 non-advanced SM and other mast cell disorders; and Fisogatinib, an orally available and potent inhibitor for the treatment of hepatocellular carcinoma.
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