Blueprint Medicines Co. (NASDAQ:BPMC) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc trimmed its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 15.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 275,424 shares of the biotechnology company's stock after selling 50,722 shares during the period. Ensign Peak Advisors Inc owned approximately 0.43% of Blueprint Medicines worth $24,022,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in BPMC. R Squared Ltd bought a new position in Blueprint Medicines in the 4th quarter worth $51,000. Headlands Technologies LLC purchased a new stake in Blueprint Medicines during the 4th quarter valued at approximately $65,000. Thematics Asset Management purchased a new stake in Blueprint Medicines during the 4th quarter valued at approximately $72,000. Covestor Ltd lifted its holdings in shares of Blueprint Medicines by 62.7% in the fourth quarter. Covestor Ltd now owns 973 shares of the biotechnology company's stock worth $85,000 after buying an additional 375 shares in the last quarter. Finally, Asset Management One Co. Ltd. bought a new position in shares of Blueprint Medicines during the fourth quarter worth $88,000.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, insider Ariel Hurley sold 2,752 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $103.13, for a total transaction of $283,813.76. Following the completion of the transaction, the insider now directly owns 16,944 shares in the company, valued at approximately $1,747,434.72. This represents a 13.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Christina Rossi sold 2,274 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $101.75, for a total transaction of $231,379.50. Following the transaction, the chief operating officer now owns 66,992 shares of the company's stock, valued at $6,816,436. This represents a 3.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,503 shares of company stock worth $1,027,931 in the last three months. Company insiders own 4.21% of the company's stock.

Analyst Upgrades and Downgrades

BPMC has been the subject of several research reports. StockNews.com raised shares of Blueprint Medicines from a "sell" rating to a "hold" rating in a report on Friday, May 2nd. Wolfe Research began coverage on shares of Blueprint Medicines in a research report on Tuesday, March 18th. They set an "outperform" rating for the company. JMP Securities reiterated a "market outperform" rating and set a $125.00 price objective on shares of Blueprint Medicines in a research report on Friday, February 14th. Piper Sandler raised their target price on shares of Blueprint Medicines from $109.00 to $119.00 and gave the stock a "neutral" rating in a report on Monday, January 27th. Finally, Jefferies Financial Group assumed coverage on Blueprint Medicines in a research report on Monday, March 17th. They set a "buy" rating and a $135.00 target price for the company. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $126.56.

Blueprint Medicines Stock Performance

BPMC traded down $1.89 during midday trading on Wednesday, hitting $97.51. 420,457 shares of the company were exchanged, compared to its average volume of 780,706. Blueprint Medicines Co. has a 1-year low of $73.04 and a 1-year high of $121.90. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of -90.29 and a beta of 0.83. The company's 50 day simple moving average is $88.91 and its 200 day simple moving average is $94.05.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share (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 analyst estimates of $158.31 million. During the same quarter in the prior year, the firm earned $1.40 earnings per share. The business's revenue for the quarter was up 55.5% on a year-over-year basis. As a group, sell-side analysts predict that Blueprint Medicines Co. will post -1.28 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.