Blueprint Medicines Co. (NASDAQ:BPMC) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in Blueprint Medicines Co. (NASDAQ:BPMC) by 8.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,484 shares of the biotechnology company’s stock after selling 227 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Blueprint Medicines were worth $157,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Bessemer Group Inc. bought a new stake in shares of Blueprint Medicines in the 1st quarter worth approximately $36,000. Lazard Asset Management LLC bought a new stake in shares of Blueprint Medicines in the 4th quarter worth approximately $57,000. Dark Forest Capital Management LP bought a new stake in shares of Blueprint Medicines in the 1st quarter worth approximately $63,000. Nisa Investment Advisors LLC raised its holdings in shares of Blueprint Medicines by 158.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,605 shares of the biotechnology company’s stock worth $72,000 after purchasing an additional 983 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of Blueprint Medicines by 24.9% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,682 shares of the biotechnology company’s stock worth $76,000 after purchasing an additional 335 shares in the last quarter.

Insiders Place Their Bets

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 3,881 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $60.02, for a total value of $232,937.62. Following the completion of the sale, the director now directly owns 176,050 shares of the company’s stock, valued at $10,566,521. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Jeffrey W. Albers sold 3,881 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $60.02, for a total transaction of $232,937.62. Following the completion of the sale, the director now directly owns 176,050 shares of the company’s stock, valued at approximately $10,566,521. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Fouad Namouni sold 3,769 shares of the firm’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $48.06, for a total transaction of $181,138.14. Following the completion of the transaction, the insider now owns 62,080 shares in the company, valued at $2,983,564.80. The disclosure for this sale can be found here. Insiders sold 26,633 shares of company stock valued at $1,384,881 over the last ninety days. Corporate insiders own 3.88% of the company’s stock.

Blueprint Medicines Stock Up 0.0 %

Blueprint Medicines stock opened at $58.86 on Tuesday. The firm has a market cap of $3.58 billion, a PE ratio of -6.40 and a beta of 0.62. The company has a debt-to-equity ratio of 1.03, a quick ratio of 4.01 and a current ratio of 4.09. The firm’s 50 day moving average price is $51.77 and its two-hundred day moving average price is $54.62. Blueprint Medicines Co. has a twelve month low of $37.82 and a twelve month high of $68.00.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Thursday, October 26th. The biotechnology company reported ($2.20) earnings per share for the quarter, beating the consensus estimate of ($2.39) by $0.19. The firm had revenue of $56.57 million for the quarter, compared to analyst estimates of $50.66 million. Blueprint Medicines had a negative net margin of 256.57% and a negative return on equity of 153.79%. The company’s revenue for the quarter was down 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($2.23) EPS. On average, research analysts predict that Blueprint Medicines Co. will post -8.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BPMC has been the topic of a number of research reports. Barclays boosted their target price on shares of Blueprint Medicines from $46.00 to $58.00 and gave the stock an “equal weight” rating in a report on Friday, October 27th. StockNews.com started coverage on shares of Blueprint Medicines in a report on Thursday, October 5th. They issued a “sell” rating on the stock. Oppenheimer upgraded shares of Blueprint Medicines from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a report on Friday, October 27th. HC Wainwright restated a “buy” rating and set a $85.00 price target on shares of Blueprint Medicines in a report on Thursday, August 3rd. Finally, Morgan Stanley boosted their price target on shares of Blueprint Medicines from $59.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, October 27th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $75.43.

About Blueprint Medicines

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; and Fisogatinib.