Blueprint Medicines Co. (NASDAQ:BPMC) Shares Sold by Comerica Bank

Comerica Bank reduced its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMCGet Rating) by 42.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 72,614 shares of the biotechnology company’s stock after selling 53,860 shares during the quarter. Comerica Bank owned approximately 0.12% of Blueprint Medicines worth $3,517,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in BPMC. Nisa Investment Advisors LLC boosted its position in shares of Blueprint Medicines by 50.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 684 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 230 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in shares of Blueprint Medicines during the 3rd quarter worth about $37,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Blueprint Medicines by 717.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 850 shares of the biotechnology company’s stock worth $43,000 after acquiring an additional 746 shares in the last quarter. Van ECK Associates Corp acquired a new position in shares of Blueprint Medicines during the 3rd quarter worth about $43,000. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of Blueprint Medicines by 113.5% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,317 shares of the biotechnology company’s stock worth $67,000 after acquiring an additional 700 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BPMC shares. HC Wainwright reduced their target price on Blueprint Medicines from $80.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, November 2nd. SVB Leerink reduced their target price on Blueprint Medicines from $57.00 to $52.00 and set a “market perform” rating for the company in a report on Wednesday, November 2nd. Wells Fargo & Company raised Blueprint Medicines from an “underweight” rating to an “equal weight” rating and set a $41.00 target price for the company in a report on Monday, January 2nd. Jefferies Financial Group reduced their target price on Blueprint Medicines from $84.00 to $80.00 in a report on Wednesday, November 2nd. Finally, StockNews.com started coverage on Blueprint Medicines in a report on Wednesday, October 12th. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $80.00.

Blueprint Medicines Stock Performance

Shares of BPMC stock opened at $47.85 on Monday. The company has a market cap of $2.86 billion, a price-to-earnings ratio of -3.95 and a beta of 0.64. The stock has a 50 day simple moving average of $45.08 and a 200-day simple moving average of $55.35. Blueprint Medicines Co. has a 12-month low of $40.78 and a 12-month high of $85.67. The company has a current ratio of 6.99, a quick ratio of 6.79 and a debt-to-equity ratio of 0.19.

Blueprint Medicines (NASDAQ:BPMCGet Rating) last issued its earnings results on Tuesday, November 1st. The biotechnology company reported ($2.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.51) by $0.28. The business had revenue of $65.98 million during the quarter, compared to the consensus estimate of $43.49 million. Blueprint Medicines had a negative return on equity of 56.45% and a negative net margin of 263.54%. On average, equities analysts forecast that Blueprint Medicines Co. will post -9.38 EPS for the current year.

Insider Transactions at Blueprint Medicines

In other news, CEO Kate Haviland purchased 1,100 shares of the stock in a transaction that occurred on Thursday, November 3rd. The shares were acquired at an average price of $43.98 per share, for a total transaction of $48,378.00. Following the acquisition, the chief executive officer now directly owns 92,281 shares in the company, valued at approximately $4,058,518.38. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Kate Haviland purchased 1,100 shares of the stock in a transaction that occurred on Thursday, November 3rd. The shares were acquired at an average price of $43.98 per share, for a total transaction of $48,378.00. Following the acquisition, the chief executive officer now directly owns 92,281 shares in the company, valued at approximately $4,058,518.38. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey W. Albers sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $50.09, for a total value of $1,001,800.00. Following the completion of the sale, the director now owns 183,243 shares in the company, valued at approximately $9,178,641.87. The disclosure for this sale can be found here. Company insiders own 3.42% of the company’s stock.

Blueprint Medicines Profile

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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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Institutional Ownership by Quarter for Blueprint Medicines (NASDAQ:BPMC)

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