Hsbc Holdings PLC Cuts Stake in Blueprint Medicines Co. (NASDAQ:BPMC)

Hsbc Holdings PLC decreased its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 37.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,019 shares of the biotechnology company's stock after selling 11,795 shares during the quarter. Hsbc Holdings PLC's holdings in Blueprint Medicines were worth $1,734,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cerity Partners LLC bought a new position in Blueprint Medicines in the 4th quarter valued at about $291,000. Empirical Asset Management LLC bought a new position in Blueprint Medicines during the 4th quarter worth $2,348,000. Stephens Inc. AR acquired a new stake in shares of Blueprint Medicines during the fourth quarter worth $321,000. Bank of New York Mellon Corp boosted its position in shares of Blueprint Medicines by 2.4% in the fourth 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 during the period. Finally, KBC Group NV increased its position in Blueprint Medicines by 63.9% during the fourth quarter. KBC Group NV now owns 2,625 shares of the biotechnology company's stock worth $229,000 after acquiring an additional 1,023 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BPMC shares. Jefferies Financial Group initiated coverage on shares of Blueprint Medicines in a report on Monday, March 17th. They issued a "buy" rating and a $135.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of Blueprint Medicines from $126.00 to $129.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Wolfe Research started coverage on shares of Blueprint Medicines in a research note on Tuesday, March 18th. They issued an "outperform" rating on the stock. Wedbush reiterated an "outperform" rating and set a $128.00 price objective on shares of Blueprint Medicines in a research report on Thursday, May 1st. Finally, StockNews.com upgraded shares of Blueprint Medicines from a "sell" rating to a "hold" rating in a research report on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $126.56.

Blueprint Medicines Stock Up 0.5 %

Shares of BPMC traded up $0.51 during trading hours on Wednesday, hitting $99.67. The stock had a trading volume of 153,830 shares, compared to its average volume of 774,687. Blueprint Medicines Co. has a 1-year low of $73.04 and a 1-year high of $121.90. The firm has a market capitalization of $6.37 billion, a P/E ratio of -92.25 and a beta of 0.83. The firm has a 50 day simple moving average of $88.07 and a 200-day simple moving average of $93.53. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80.

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 the consensus estimate of ($0.42) by ($0.32). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. The business had revenue of $149.41 million for the quarter, compared to the consensus estimate of $158.31 million. During the same period in the previous year, the firm earned $1.40 earnings per share. The company's revenue was up 55.5% on a year-over-year basis. Sell-side analysts predict that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.

Insider Transactions at Blueprint Medicines

In related news, insider Ariel Hurley sold 3,203 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.62, for a total transaction of $296,661.86. Following the transaction, the insider now directly owns 18,270 shares in the company, valued at approximately $1,692,167.40. The trade was a 14.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Christina Rossi sold 2,274 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $95.02, for a total transaction of $216,075.48. Following the completion of the sale, the chief operating officer now owns 69,266 shares of the company's stock, valued at approximately $6,581,655.32. This trade represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.21% of the company's stock.

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.