Blueprint Medicines Co. (NASDAQ:BPMC) Holdings Trimmed by Eagle Asset Management Inc.

Eagle Asset Management Inc. lowered its holdings in Blueprint Medicines Co. (NASDAQ:BPMC) by 18.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 154,652 shares of the biotechnology company’s stock after selling 34,215 shares during the period. Eagle Asset Management Inc. owned approximately 0.24% of Blueprint Medicines worth $15,594,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in Blueprint Medicines by 9.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 597,232 shares of the biotechnology company’s stock valued at $55,244,000 after purchasing an additional 50,736 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Blueprint Medicines by 48.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 252,236 shares of the biotechnology company’s stock valued at $23,332,000 after acquiring an additional 82,693 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Blueprint Medicines in the third quarter worth $1,712,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Blueprint Medicines during the third quarter worth $6,465,000. Finally, Advisors Asset Management Inc. raised its holdings in shares of Blueprint Medicines by 17.6% during the third quarter. Advisors Asset Management Inc. now owns 5,054 shares of the biotechnology company’s stock worth $467,000 after acquiring an additional 756 shares in the last quarter.

Wall Street Analysts Forecast Growth

BPMC has been the subject of a number of recent research reports. Wells Fargo & Company cut their price target on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. JMP Securities restated a “market outperform” rating and set a $125.00 price target on shares of Blueprint Medicines in a research note on Monday, November 18th. Wedbush reissued an “outperform” rating and set a $135.00 target price on shares of Blueprint Medicines in a research report on Thursday, November 14th. Guggenheim boosted their price target on Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Robert W. Baird raised their price objective on Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Blueprint Medicines currently has a consensus rating of “Moderate Buy” and an average price target of $122.11.

Blueprint Medicines Price Performance

Blueprint Medicines stock opened at $94.15 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. The business has a 50 day simple moving average of $90.36 and a 200 day simple moving average of $98.53. Blueprint Medicines Co. has a one year low of $66.61 and a one year high of $121.90. The company has a market capitalization of $5.98 billion, a PE ratio of -44.62 and a beta of 0.59.

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

Insider Activity

In related news, insider Fouad Namouni sold 3,633 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total transaction of $324,499.56. Following the completion of the sale, the insider now directly owns 69,070 shares of the company’s stock, valued at $6,169,332.40. This trade represents a 5.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.21% of the stock is currently owned by corporate insiders.

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.