NewEdge Wealth LLC Has $329,000 Stake in Blueprint Medicines Co. (NASDAQ:BPMC)

NewEdge Wealth LLC reduced its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 13.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,565 shares of the biotechnology company’s stock after selling 550 shares during the quarter. NewEdge Wealth LLC’s holdings in Blueprint Medicines were worth $329,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Compass Wealth Management LLC acquired a new position in shares of Blueprint Medicines during the fourth quarter worth about $69,000. PNC Financial Services Group Inc. boosted its position in shares of Blueprint Medicines by 63.4% during the third quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock worth $43,000 after buying an additional 329 shares during the period. Cutler Group LLC CA boosted 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 buying an additional 944 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Blueprint Medicines during the second quarter worth about $69,000. Finally, Dark Forest Capital Management LP acquired a new position in shares of Blueprint Medicines during the first quarter worth about $63,000.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Raymond James upped their price objective 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. Needham & Company LLC reiterated a “buy” rating and set a $97.00 target price on shares of Blueprint Medicines in a report on Monday, February 26th. Citigroup upped their target price on Blueprint Medicines from $54.00 to $65.00 and gave the stock a “sell” rating in a report on Friday, February 16th. JMP Securities reiterated a “market outperform” rating and set a $114.00 target price on shares of Blueprint Medicines in a report on Wednesday, April 10th. Finally, Wedbush reiterated an “outperform” rating and set a $97.00 target price on shares of Blueprint Medicines in a report on Monday, February 5th. Four analysts have rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Blueprint Medicines currently has an average rating of “Hold” and a consensus target price of $85.43.

Blueprint Medicines Price Performance

NASDAQ:BPMC opened at $88.38 on Thursday. The company has a quick ratio of 3.66, a current ratio of 3.76 and a debt-to-equity ratio of 1.60. The stock’s 50 day moving average price is $89.22 and its two-hundred day moving average price is $76.96. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of -10.57 and a beta of 0.63. Blueprint Medicines Co. has a 12-month low of $43.89 and a 12-month high of $101.00.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.04) by $0.22. The company had revenue of $71.96 million for the quarter, compared to analyst estimates of $67.34 million. Blueprint Medicines had a negative return on equity of 191.56% and a negative net margin of 203.30%. The firm’s quarterly revenue was up 85.5% compared to the same quarter last year. During the same quarter last year, the company earned ($2.65) earnings per share. On average, analysts anticipate that Blueprint Medicines Co. will post -5.42 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Christina Rossi sold 6,070 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $90.69, for a total transaction of $550,488.30. Following the sale, the chief operating officer now owns 64,306 shares of the company’s stock, valued at $5,831,911.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Blueprint Medicines news, COO Christina Rossi sold 6,070 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $90.69, for a total value of $550,488.30. Following the sale, the chief operating officer now owns 64,306 shares of the company’s stock, valued at approximately $5,831,911.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Michael Landsittel sold 5,000 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $95.00, for a total value of $475,000.00. Following the completion of the transaction, the chief financial officer now owns 47,286 shares of the company’s stock, valued at $4,492,170. The disclosure for this sale can be found here. Insiders have sold 117,289 shares of company stock valued at $10,361,913 over the last 90 days. 3.88% of the stock is owned by corporate insiders.

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.