Bank of America Corp DE Decreases Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Bank of America Corp DE decreased its position in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 4.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 395,031 shares of the biotechnology company's stock after selling 16,424 shares during the period. Bank of America Corp DE owned approximately 0.62% of Blueprint Medicines worth $34,455,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Ameriprise Financial Inc. lifted its position in shares of Blueprint Medicines by 4.2% during the 4th quarter. Ameriprise Financial Inc. now owns 338,115 shares of the biotechnology company's stock valued at $29,489,000 after acquiring an additional 13,501 shares during the period. Algert Global LLC increased its stake in Blueprint Medicines by 21.6% in the fourth quarter. Algert Global LLC now owns 112,172 shares of the biotechnology company's stock valued at $9,784,000 after purchasing an additional 19,936 shares in the last quarter. Alkeon Capital Management LLC raised its holdings in shares of Blueprint Medicines by 11.4% during the fourth quarter. Alkeon Capital Management LLC now owns 800,628 shares of the biotechnology company's stock valued at $69,831,000 after purchasing an additional 81,700 shares during the period. Comerica Bank boosted its position in shares of Blueprint Medicines by 411.5% during the 4th quarter. Comerica Bank now owns 13,115 shares of the biotechnology company's stock worth $1,144,000 after purchasing an additional 10,551 shares in the last quarter. Finally, PDT Partners LLC bought a new position in shares of Blueprint Medicines during the 4th quarter worth about $270,000.

Insider Activity

In related news, insider Ariel Hurley sold 2,752 shares of Blueprint Medicines stock in a transaction on Monday, May 5th. The stock was sold at an average price of $103.13, for a total transaction of $283,813.76. Following the sale, the insider now directly owns 16,944 shares in the company, valued at approximately $1,747,434.72. This trade represents a 13.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Christina Rossi sold 2,274 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $101.75, for a total value of $231,379.50. Following the completion of the transaction, the chief operating officer now owns 66,992 shares of the company's stock, valued at $6,816,436. This trade represents a 3.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,777 shares of company stock valued at $1,256,490 over the last three months. Corporate insiders own 4.21% of the company's stock.

Blueprint Medicines Stock Down 0.9%

Shares of BPMC traded down $0.89 during trading hours on Thursday, reaching $100.63. 27,960 shares of the stock traded hands, compared to its average volume of 777,337. Blueprint Medicines Co. has a 52 week low of $73.04 and a 52 week high of $121.90. The company has a market cap of $6.50 billion, a price-to-earnings ratio of -93.49 and a beta of 0.83. The stock has a fifty day simple moving average of $90.37 and a 200 day simple moving average of $94.58. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The biotechnology company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.32). Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. The firm had revenue of $149.41 million during the quarter, compared to analysts' expectations of $158.31 million. During the same quarter last year, the business posted $1.40 EPS. The company's quarterly revenue was up 55.5% on a year-over-year basis. On average, equities analysts forecast that Blueprint Medicines Co. will post -1.28 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on BPMC shares. Needham & Company LLC decreased their target price on Blueprint Medicines from $133.00 to $130.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Morgan Stanley started coverage on Blueprint Medicines in a research note on Thursday, March 20th. They issued an "equal weight" rating and a $100.00 price objective for the company. JMP Securities reaffirmed a "market outperform" rating and set a $125.00 target price on shares of Blueprint Medicines in a research report on Friday, February 14th. Scotiabank started coverage on Blueprint Medicines in a report on Friday, March 7th. They issued a "sector outperform" rating and a $150.00 target price on the stock. Finally, Jefferies Financial Group began coverage on shares of Blueprint Medicines in a research report on Monday, March 17th. They issued a "buy" rating and a $135.00 price target for the company. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Blueprint Medicines has a consensus rating of "Moderate Buy" and an average price target of $126.56.

Blueprint Medicines Company 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.