State of New Jersey Common Pension Fund D Sells 13,058 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

State of New Jersey Common Pension Fund D cut its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 25.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,619 shares of the biotechnology company's stock after selling 13,058 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.06% of Blueprint Medicines worth $3,470,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Xponance Inc. purchased a new stake in Blueprint Medicines in the fourth quarter valued at approximately $378,000. Federated Hermes Inc. purchased a new stake in Blueprint Medicines in the fourth quarter valued at approximately $2,218,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Blueprint Medicines by 10.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,369 shares of the biotechnology company's stock valued at $1,233,000 after purchasing an additional 1,314 shares during the period. Strs Ohio grew its holdings in Blueprint Medicines by 94.3% in the fourth quarter. Strs Ohio now owns 6,800 shares of the biotechnology company's stock valued at $627,000 after purchasing an additional 3,300 shares during the period. Finally, Mutual of America Capital Management LLC grew its holdings in Blueprint Medicines by 16.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 36,602 shares of the biotechnology company's stock valued at $3,376,000 after purchasing an additional 5,204 shares during the period.

Blueprint Medicines Stock Up 2.5 %

Shares of NASDAQ BPMC traded up $2.27 during trading on Friday, reaching $93.00. 725,963 shares of the stock were exchanged, compared to its average volume of 583,126. The business's 50-day moving average price is $90.79 and its 200 day moving average price is $79.00. Blueprint Medicines Co. has a twelve month low of $43.89 and a twelve month high of $101.00. The company has a quick ratio of 3.66, a current ratio of 3.76 and a debt-to-equity ratio of 1.60. The company has a market capitalization of $5.69 billion, a price-to-earnings ratio of -11.12 and a beta of 0.63.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.04) by $0.22. The firm had revenue of $71.96 million for the quarter, compared to analysts' expectations of $67.34 million. Blueprint Medicines had a negative net margin of 203.30% and a negative return on equity of 191.56%. The firm's quarterly revenue was up 85.5% on a year-over-year basis. During the same period in the prior year, the company posted ($2.65) earnings per share. As a group, equities analysts forecast that Blueprint Medicines Co. will post -5.41 EPS for the current fiscal year.

Insider Activity at Blueprint Medicines

In related news, EVP Tracey L. Mccain sold 5,194 shares of the company'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 $471,043.86. Following the sale, the executive vice president now directly owns 60,498 shares of the company's stock, valued at $5,486,563.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Tracey L. Mccain sold 5,194 shares of the company'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 $471,043.86. Following the sale, the executive vice president now directly owns 60,498 shares of the company's stock, valued at $5,486,563.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $500,000.00. Following the sale, the insider now owns 24,495 shares of the company's stock, valued at approximately $2,449,500. The disclosure for this sale can be found here. Insiders have sold 92,289 shares of company stock valued at $8,314,163 over the last ninety days. Corporate insiders own 3.88% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. JMP Securities restated a "market outperform" rating and issued a $114.00 target price on shares of Blueprint Medicines in a report on Wednesday, April 10th. Barclays lifted their price target on shares of Blueprint Medicines from $58.00 to $70.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 13th. Needham & Company LLC reaffirmed a "buy" rating and set a $97.00 price target on shares of Blueprint Medicines in a research report on Friday. Stifel Nicolaus lifted their price target on shares of Blueprint Medicines from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Friday. Finally, HC Wainwright reaffirmed a "buy" rating and set a $125.00 price target on shares of Blueprint Medicines in a research report on Friday. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $91.57.

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.