DnB Asset Management AS Lowers Stake in Blueprint Medicines Co. (NASDAQ:BPMC)

DnB Asset Management AS lessened its holdings in Blueprint Medicines Co. (NASDAQ:BPMC) by 18.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,145 shares of the biotechnology company’s stock after selling 1,568 shares during the period. DnB Asset Management AS’s holdings in Blueprint Medicines were worth $623,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of BPMC. Empirical Asset Management LLC acquired a new position in shares of Blueprint Medicines during the 4th quarter worth approximately $2,348,000. Stephens Inc. AR purchased a new stake in Blueprint Medicines in the 4th quarter worth $321,000. Bank of New York Mellon Corp lifted its holdings in Blueprint Medicines by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 303,432 shares of the biotechnology company’s stock valued at $26,465,000 after purchasing an additional 7,101 shares in the last quarter. KBC Group NV grew its position in shares of Blueprint Medicines by 63.9% in the fourth quarter. KBC Group NV now owns 2,625 shares of the biotechnology company’s stock valued at $229,000 after purchasing an additional 1,023 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Blueprint Medicines during the fourth quarter worth about $21,104,000.

Blueprint Medicines Price Performance

Shares of NASDAQ:BPMC opened at $90.01 on Thursday. Blueprint Medicines Co. has a 52 week low of $80.68 and a 52 week high of $121.90. The company has a 50-day moving average price of $96.75 and a 200 day moving average price of $94.02. The company has a market cap of $5.75 billion, a P/E ratio of -83.34 and a beta of 0.75. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly 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 net margin of 13.19% and a negative return on equity of 77.49%. Research analysts predict that Blueprint Medicines Co. will post -1.28 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BPMC. Jefferies Financial Group assumed coverage on shares of Blueprint Medicines in a research note on Monday, March 17th. They issued a “buy” rating and a $135.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on Blueprint Medicines from $126.00 to $129.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Scotiabank started coverage on Blueprint Medicines in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $150.00 price objective for the company. Stephens reaffirmed an “overweight” rating and set a $140.00 target price on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Finally, Wedbush reiterated an “outperform” rating and issued a $128.00 target price on shares of Blueprint Medicines in a research report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Blueprint Medicines presently has an average rating of “Moderate Buy” and a consensus target price of $124.95.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, CEO Kate Haviland sold 1,446 shares of the company’s 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 sale, the chief executive officer now owns 149,378 shares of the company’s stock, valued at approximately $16,467,430.72. This represents a 0.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction on Monday, March 24th. The stock was sold at an average price of $95.02, for a total value of $216,075.48. Following the transaction, the chief operating officer now directly owns 69,266 shares of the company’s stock, valued at $6,581,655.32. This trade represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,608 shares of company stock valued at $3,319,587. 4.21% of the stock is owned by company 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.