Assenagon Asset Management S.A. Cuts Stock Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Assenagon Asset Management S.A. cut its stake in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 21.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,270 shares of the biotechnology company's stock after selling 21,083 shares during the period. Assenagon Asset Management S.A. owned about 0.12% of Blueprint Medicines worth $6,751,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Cerity Partners LLC bought a new position in Blueprint Medicines in the fourth quarter worth approximately $291,000. Stephens Inc. AR purchased a new stake in Blueprint Medicines during the fourth quarter worth $321,000. Bank of New York Mellon Corp boosted its position in Blueprint Medicines by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 303,432 shares of the biotechnology company's stock valued at $26,465,000 after acquiring an additional 7,101 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Blueprint Medicines in the 4th quarter valued at $21,104,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Blueprint Medicines by 31.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,650 shares of the biotechnology company's stock worth $144,000 after acquiring an additional 399 shares in the last quarter.

Insider Buying and Selling at Blueprint Medicines

In related news, insider Ariel Hurley sold 2,752 shares of Blueprint Medicines stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $103.13, for a total value of $283,813.76. Following the completion of the sale, the insider now owns 16,944 shares in the company, valued at approximately $1,747,434.72. This trade represents a 13.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey W. Albers sold 5,000 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $101.14, for a total value of $505,700.00. Following the transaction, the director now owns 146,630 shares in the company, valued at $14,830,158.20. This trade represents a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,574 shares of company stock worth $1,465,528 over the last three months. Insiders own 4.21% of the company's stock.

Analyst Ratings Changes

BPMC has been the topic of several analyst reports. Citizens Jmp lowered Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 3rd. Citigroup raised shares of Blueprint Medicines from a "strong sell" rating to a "hold" rating and lifted their price objective for the stock from $83.00 to $129.00 in a research report on Wednesday, June 4th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $129.00 price objective (down previously from $130.00) on shares of Blueprint Medicines in a research note on Monday, June 2nd. 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 target price for the company. Finally, TD Cowen downgraded Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 3rd. Seventeen investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $129.35.

Blueprint Medicines Trading Up 0.0%

Shares of NASDAQ BPMC traded up $0.04 during midday trading on Monday, reaching $128.00. 2,386,394 shares of the stock were exchanged, compared to its average volume of 1,209,048. Blueprint Medicines Co. has a twelve month low of $73.04 and a twelve month high of $128.38. The stock has a market capitalization of $8.27 billion, a P/E ratio of -118.52 and a beta of 0.84. The company has a 50 day simple moving average of $100.02 and a 200 day simple moving average of $97.05. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) EPS for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.32). The business had revenue of $149.41 million during the quarter, compared to analysts' expectations of $158.31 million. Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. Blueprint Medicines's revenue for the quarter was up 55.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.40 EPS. As a group, equities analysts expect that Blueprint Medicines Co. will post -1.28 earnings per share 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.