Peregrine Capital Management LLC Has $8.47 Million Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Peregrine Capital Management LLC reduced its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 37.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,773 shares of the biotechnology company's stock after selling 54,890 shares during the period. Peregrine Capital Management LLC owned 0.15% of Blueprint Medicines worth $8,465,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Blueprint Medicines by 0.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,414 shares of the biotechnology company's stock worth $3,451,000 after purchasing an additional 145 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Blueprint Medicines by 353.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,032 shares of the biotechnology company's stock worth $649,000 after acquiring an additional 5,482 shares during the period. Clarus Wealth Advisors purchased a new stake in Blueprint Medicines in the 4th quarter worth approximately $306,000. Clear Harbor Asset Management LLC purchased a new stake in Blueprint Medicines in the 4th quarter worth approximately $286,000. Finally, Assenagon Asset Management S.A. grew its stake in Blueprint Medicines by 2,788.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 269,658 shares of the biotechnology company's stock worth $24,873,000 after acquiring an additional 260,321 shares during the period.

Insider Buying and Selling

In other Blueprint Medicines news, COO Christina Rossi sold 6,070 shares of the business's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $90.69, for a total value of $550,488.30. Following the transaction, the chief operating officer now owns 64,306 shares in the company, valued at approximately $5,831,911.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Blueprint Medicines news, insider Christopher K. Murray sold 5,000 shares of the business's stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $100.00, for a total value of $500,000.00. Following the transaction, the insider now owns 24,495 shares in the company, valued at approximately $2,449,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Christina Rossi sold 6,070 shares of the business's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $90.69, for a total transaction of $550,488.30. Following the completion of the transaction, the chief operating officer now owns 64,306 shares in the company, valued at approximately $5,831,911.14. The disclosure for this sale can be found here. In the last three months, insiders sold 117,289 shares of company stock valued at $10,361,913. Company insiders own 3.88% of the company's stock.

Blueprint Medicines Stock Down 1.9 %

Blueprint Medicines stock traded down $1.71 during trading on Wednesday, reaching $90.49. 569,818 shares of the company's stock were exchanged, compared to its average volume of 784,724. The company's 50-day moving average is $88.18 and its two-hundred day moving average is $75.64. The company has a debt-to-equity ratio of 1.60, a quick ratio of 3.66 and a current ratio of 3.76. Blueprint Medicines Co. has a 52-week low of $42.26 and a 52-week high of $101.00. The firm has a market cap of $5.54 billion, a price-to-earnings ratio of -10.82 and a beta of 0.63.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, topping analysts' consensus estimates of ($2.04) by $0.22. Blueprint Medicines had a negative net margin of 203.30% and a negative return on equity of 191.56%. The firm had revenue of $71.96 million during the quarter, compared to analysts' expectations of $67.34 million. During the same period in the prior year, the company earned ($2.65) EPS. The firm's revenue was up 85.5% on a year-over-year basis. On average, analysts predict that Blueprint Medicines Co. will post -5.42 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on BPMC shares. Wedbush reaffirmed an "outperform" rating and issued a $97.00 target price on shares of Blueprint Medicines in a research note on Monday, February 5th. Citigroup lifted their target price on shares of Blueprint Medicines from $54.00 to $65.00 and gave the stock a "sell" rating in a research note on Friday, February 16th. JMP Securities reaffirmed a "market outperform" rating and issued a $114.00 target price on shares of Blueprint Medicines in a research note on Wednesday. Barclays lifted their target price on shares of Blueprint Medicines from $58.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 13th. Finally, Wells Fargo & Company lifted their target price on shares of Blueprint Medicines from $86.00 to $115.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 19th. Four analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Blueprint Medicines presently has an average rating of "Hold" and an average price target of $85.43.

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.