Principal Financial Group Inc. Decreases Stock Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Principal Financial Group Inc. reduced its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 81.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,038 shares of the biotechnology company’s stock after selling 47,153 shares during the quarter. Principal Financial Group Inc.’s holdings in Blueprint Medicines were worth $1,021,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Amalgamated Bank lifted its position in shares of Blueprint Medicines by 5.3% during the 2nd quarter. Amalgamated Bank now owns 2,154 shares of the biotechnology company’s stock valued at $232,000 after buying an additional 109 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Blueprint Medicines by 13.3% during the second quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $120,000 after purchasing an additional 131 shares during the last quarter. EFG Asset Management North America Corp. boosted its position in Blueprint Medicines by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 27,884 shares of the biotechnology company’s stock worth $3,008,000 after purchasing an additional 132 shares during the period. Pallas Capital Advisors LLC increased its stake in shares of Blueprint Medicines by 3.2% in the third quarter. Pallas Capital Advisors LLC now owns 5,657 shares of the biotechnology company’s stock worth $523,000 after purchasing an additional 176 shares in the last quarter. Finally, US Bancorp DE raised its position in shares of Blueprint Medicines by 5.2% in the first quarter. US Bancorp DE now owns 3,724 shares of the biotechnology company’s stock valued at $353,000 after purchasing an additional 183 shares during the period.

Insider Transactions at Blueprint Medicines

In other news, insider Fouad Namouni sold 3,633 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total transaction of $324,499.56. Following the completion of the transaction, the insider now directly owns 69,070 shares of the company’s stock, valued at approximately $6,169,332.40. This represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.21% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wells Fargo & Company cut their price objective on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and issued a $125.00 price target on shares of Blueprint Medicines in a research report on Monday, November 18th. Robert W. Baird increased their price objective on Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Baird R W raised Blueprint Medicines to a “strong-buy” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. initiated coverage on shares of Blueprint Medicines in a report on Thursday, November 14th. They issued an “overweight” rating and a $126.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Blueprint Medicines has a consensus rating of “Moderate Buy” and a consensus price target of $122.11.

Blueprint Medicines Stock Down 2.6 %

Shares of NASDAQ:BPMC opened at $94.15 on Friday. The stock has a market capitalization of $5.98 billion, a P/E ratio of -44.62 and a beta of 0.59. The stock’s 50-day moving average price is $90.36 and its 200-day moving average price is $98.53. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09. Blueprint Medicines Co. has a 12-month low of $66.61 and a 12-month high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.08. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The business had revenue of $128.20 million for the quarter, compared to analyst estimates of $127.56 million. During the same period last year, the company earned ($2.20) EPS. Blueprint Medicines’s revenue for the quarter was up 126.5% compared to the same quarter last year. On average, equities analysts anticipate that Blueprint Medicines Co. will post -3.68 earnings per share for the current 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.