Peregrine Capital Management LLC Has $8.51 Million Position in Blueprint Medicines Corporation (NASDAQ:BPMC)

Peregrine Capital Management LLC lessened its stake in shares of Blueprint Medicines Corporation (NASDAQ:BPMC - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,149 shares of the biotechnology company's stock after selling 2,663 shares during the period. Peregrine Capital Management LLC owned 0.15% of Blueprint Medicines worth $8,510,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Blueprint Medicines by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 6,774,884 shares of the biotechnology company's stock worth $590,905,000 after acquiring an additional 91,450 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Blueprint Medicines by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,679,089 shares of the biotechnology company's stock valued at $495,331,000 after purchasing an additional 291,822 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Blueprint Medicines by 8.0% in the fourth quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company's stock worth $373,421,000 after purchasing an additional 316,754 shares during the period. William Blair Investment Management LLC lifted its position in shares of Blueprint Medicines by 16.1% during the 4th quarter. William Blair Investment Management LLC now owns 1,944,695 shares of the biotechnology company's stock worth $169,616,000 after purchasing an additional 269,896 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Blueprint Medicines by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,490,101 shares of the biotechnology company's stock valued at $129,996,000 after purchasing an additional 9,914 shares during the period.

Blueprint Medicines Price Performance

Shares of BPMC traded up $0.07 during trading hours on Thursday, hitting $128.27. The stock had a trading volume of 1,350,246 shares, compared to its average volume of 1,319,979. Blueprint Medicines Corporation has a 52 week low of $73.04 and a 52 week high of $128.52. The stock has a market capitalization of $8.28 billion, a price-to-earnings ratio of -51.93 and a beta of 0.89. The company's fifty day moving average is $111.90 and its two-hundred day moving average is $99.97. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.80 and a quick ratio of 2.75.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its quarterly earnings data 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 27.70% and a negative return on equity of 64.60%. The business had revenue of $149.41 million during the quarter, compared to the consensus estimate of $158.31 million. During the same quarter in the previous year, the firm posted $1.40 EPS. The company's revenue for the quarter was up 55.5% compared to the same quarter last year. On average, analysts anticipate that Blueprint Medicines Corporation will post -1.28 EPS for the current year.

Insider Activity

In related news, Director Jeffrey W. Albers sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $101.14, for a total value of $505,700.00. Following the completion of the transaction, the director owned 146,630 shares in the company, valued at $14,830,158.20. The trade was a 3.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction on Monday, May 19th. The shares were 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 directly owned 64,718 shares of the company's stock, valued at $6,504,806.18. This trade represents a 3.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,300 shares of company stock valued at $1,249,453 over the last three months. 4.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BPMC has been the topic of several recent analyst reports. TD Cowen downgraded Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 3rd. JMP Securities reaffirmed a "market perform" rating on shares of Blueprint Medicines in a research report on Tuesday, June 3rd. Needham & Company LLC cut shares of Blueprint Medicines from a "buy" rating to a "hold" rating and set a $130.00 target price for the company. in a research note on Monday, June 2nd. Wells Fargo & Company lowered shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating and decreased their price target for the stock from $143.00 to $129.00 in a research report on Tuesday, June 17th. Finally, Wolfe Research downgraded shares of Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 3rd. Eighteen equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Blueprint Medicines presently has a consensus rating of "Hold" and an average target price of $128.06.

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.