Emerald Advisers LLC Sells 15,222 Shares of Blueprint Medicines Corporation (NASDAQ:BPMC)

Emerald Advisers LLC lessened its stake in shares of Blueprint Medicines Corporation (NASDAQ:BPMC - Free Report) by 3.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 401,644 shares of the biotechnology company's stock after selling 15,222 shares during the period. Blueprint Medicines accounts for about 1.6% of Emerald Advisers LLC's investment portfolio, making the stock its 14th biggest holding. Emerald Advisers LLC owned approximately 0.63% of Blueprint Medicines worth $35,550,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Fifth Third Bancorp grew its holdings in Blueprint Medicines by 4.7% during the first quarter. Fifth Third Bancorp now owns 3,221 shares of the biotechnology company's stock valued at $285,000 after purchasing an additional 146 shares during the period. Xponance Inc. grew its holdings in Blueprint Medicines by 5.0% during the first quarter. Xponance Inc. now owns 5,021 shares of the biotechnology company's stock valued at $444,000 after purchasing an additional 240 shares during the period. Sherbrooke Park Advisers LLC grew its holdings in Blueprint Medicines by 8.4% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 3,374 shares of the biotechnology company's stock valued at $294,000 after purchasing an additional 261 shares during the period. Summit Investment Advisors Inc. boosted its stake in shares of Blueprint Medicines by 4.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,652 shares of the biotechnology company's stock worth $580,000 after acquiring an additional 283 shares during the period. Finally, GF Fund Management CO. LTD. grew its position in shares of Blueprint Medicines by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 1,626 shares of the biotechnology company's stock worth $144,000 after purchasing an additional 292 shares in the last quarter.

Insiders Place Their Bets

In other news, Director Jeffrey W. Albers sold 5,000 shares of the stock in a transaction that occurred 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 sale, the director directly owned 146,630 shares in the company, valued at approximately $14,830,158.20. This represents a 3.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Christina Rossi sold 2,274 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $100.51, for a total value of $228,559.74. Following the completion of the sale, the chief operating officer owned 64,718 shares in the company, valued at approximately $6,504,806.18. The trade was a 3.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,351 shares of company stock valued at $1,384,244. Corporate insiders own 4.21% of the company's stock.

Analyst Upgrades and Downgrades

BPMC has been the subject of several recent analyst reports. Wedbush downgraded Blueprint Medicines from an "outperform" rating to a "neutral" rating and upped their price target for the stock from $128.00 to $129.00 in a research note on Monday, June 2nd. Wells Fargo & Company cut shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating and reduced their price objective for the company from $143.00 to $129.00 in a research report on Tuesday, June 17th. Morgan Stanley lifted their price objective on shares of Blueprint Medicines from $102.00 to $129.00 and gave the company an "equal weight" rating in a research report on Thursday, June 5th. 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 report on Monday, June 2nd. Finally, Scotiabank cut shares of Blueprint Medicines from a "strong-buy" rating to a "sector perform" rating and set a $135.00 price objective on the stock. in a research report on Monday, June 2nd. Eighteen analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $128.25.

Blueprint Medicines Trading Up 0.0%

BPMC stock traded up $0.06 during midday trading on Monday, reaching $129.36. 6,668,890 shares of the company traded hands, compared to its average volume of 1,406,335. Blueprint Medicines Corporation has a 52-week low of $73.04 and a 52-week high of $129.49. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.75 and a current ratio of 2.80. The business has a 50 day moving average of $117.02 and a 200-day moving average of $101.90. The firm has a market capitalization of $8.35 billion, a price-to-earnings ratio of -52.37 and a beta of 0.89.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.32). Blueprint Medicines had a negative return on equity of 64.60% and a negative net margin of 27.70%. The business had revenue of $149.41 million during the quarter, compared to analysts' expectations of $158.31 million. During the same quarter in the previous year, the company posted $1.40 earnings per share. The company's quarterly revenue was up 55.5% compared to the same quarter last year. As a group, sell-side analysts expect that Blueprint Medicines Corporation will post -1.28 earnings per share for the current fiscal 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.