Fmr LLC Sells 2,269,092 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Fmr LLC lessened its holdings in Blueprint Medicines Co. (NASDAQ:BPMC) by 50.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,247,679 shares of the biotechnology company’s stock after selling 2,269,092 shares during the quarter. Fmr LLC’s holdings in Blueprint Medicines were worth $196,043,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of BPMC. R Squared Ltd bought a new position in Blueprint Medicines in the fourth quarter worth approximately $51,000. Headlands Technologies LLC bought a new position in shares of Blueprint Medicines during the 4th quarter worth $65,000. Asset Management One Co. Ltd. purchased a new position in shares of Blueprint Medicines during the fourth quarter valued at $88,000. Van ECK Associates Corp raised its holdings in shares of Blueprint Medicines by 48.2% in the fourth quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $97,000 after acquiring an additional 363 shares in the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in shares of Blueprint Medicines in the fourth quarter valued at about $131,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a research report on Friday, February 14th. JMP Securities restated a “market outperform” rating and set a $125.00 target price on shares of Blueprint Medicines in a report on Friday, February 14th. Wolfe Research began coverage on Blueprint Medicines in a research report on Tuesday, March 18th. They issued an “outperform” rating for the company. Piper Sandler upped their price objective on Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Finally, Stephens reiterated an “overweight” rating and issued a $140.00 target price on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $124.95.

Insider Activity at Blueprint Medicines

In other news, CEO Kate Haviland sold 1,446 shares of Blueprint Medicines stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total value of $159,407.04. Following the completion of the sale, the chief executive officer now owns 149,378 shares of the company’s stock, valued at $16,467,430.72. The trade was a 0.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Christina Rossi sold 2,274 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $110.14, for a total value of $250,458.36. Following the sale, the chief operating officer now directly owns 67,109 shares of the company’s stock, valued at approximately $7,391,385.26. This trade represents a 3.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,608 shares of company stock valued at $3,319,587. Insiders own 4.21% of the company’s stock.

Blueprint Medicines Trading Up 0.7 %

NASDAQ BPMC opened at $80.84 on Friday. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $5.17 billion, a P/E ratio of -74.85 and a beta of 0.75. Blueprint Medicines Co. has a 52-week low of $73.04 and a 52-week high of $121.90. The firm has a 50-day moving average price of $90.91 and a 200 day moving average price of $93.51.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. Equities research analysts expect that Blueprint Medicines Co. will post -1.28 EPS for the current year.

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.