Blueprint Medicines Co. (NASDAQ:BPMC) Shares Sold by Arizona State Retirement System

Arizona State Retirement System decreased its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 6.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,111 shares of the biotechnology company’s stock after selling 1,106 shares during the quarter. Arizona State Retirement System’s holdings in Blueprint Medicines were worth $1,486,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BPMC. PNC Financial Services Group Inc. lifted its holdings in shares of Blueprint Medicines by 63.4% in the third quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock valued at $43,000 after buying an additional 329 shares during the period. Cutler Group LLC CA raised its position in shares of Blueprint Medicines by 1,685.7% during the third quarter. Cutler Group LLC CA now owns 1,000 shares of the biotechnology company’s stock worth $50,000 after purchasing an additional 944 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Blueprint Medicines during the fourth quarter worth $57,000. Dark Forest Capital Management LP acquired a new stake in shares of Blueprint Medicines during the first quarter worth $63,000. Finally, Compass Wealth Management LLC acquired a new stake in shares of Blueprint Medicines during the fourth quarter worth $69,000.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and set a $114.00 target price on shares of Blueprint Medicines in a research report on Wednesday. Stifel Nicolaus boosted their target price on Blueprint Medicines from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Raymond James boosted their target price on Blueprint Medicines from $85.00 to $100.00 and gave the stock a “strong-buy” rating in a research report on Friday, December 22nd. Wedbush reissued an “outperform” rating and set a $97.00 price target on shares of Blueprint Medicines in a research report on Monday, February 5th. Finally, Needham & Company LLC reissued a “buy” rating and set a $97.00 price target on shares of Blueprint Medicines in a research report on Monday, February 26th. Four investment analysts have rated the stock with a sell rating, two have assigned 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.com, Blueprint Medicines currently has an average rating of “Hold” and an average price target of $85.43.

Insiders Place Their Bets

In other news, Director Jeffrey W. Albers sold 25,000 shares of the company’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $81.91, for a total transaction of $2,047,750.00. Following the completion of the sale, the director now owns 176,050 shares in the company, valued at approximately $14,420,255.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Kate Haviland sold 12,464 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $90.69, for a total transaction of $1,130,360.16. Following the completion of the sale, the chief executive officer now owns 153,177 shares in the company, valued at approximately $13,891,622.13. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey W. Albers sold 25,000 shares of the company’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $81.91, for a total value of $2,047,750.00. Following the sale, the director now owns 176,050 shares of the company’s stock, valued at approximately $14,420,255.50. The disclosure for this sale can be found here. Insiders have sold a total of 117,289 shares of company stock valued at $10,361,913 in the last three months. Insiders own 3.88% of the company’s stock.

Blueprint Medicines Stock Performance

Shares of BPMC stock opened at $87.25 on Friday. The company has a debt-to-equity ratio of 1.60, a current ratio of 3.76 and a quick ratio of 3.66. Blueprint Medicines Co. has a fifty-two week low of $43.81 and a fifty-two week high of $101.00. The stock’s 50-day moving average is $88.58 and its two-hundred day moving average is $76.20. The firm has a market cap of $5.34 billion, a P/E ratio of -10.44 and a beta of 0.63.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, topping the consensus estimate of ($2.04) by $0.22. Blueprint Medicines had a negative return on equity of 191.56% and a negative net margin of 203.30%. The company had revenue of $71.96 million for the quarter, compared to analyst estimates of $67.34 million. During the same period in the prior year, the firm posted ($2.65) EPS. The business’s revenue was up 85.5% compared to the same quarter last year. Analysts predict that Blueprint Medicines Co. will post -5.42 earnings per share 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.