Handelsinvest Investeringsforvaltning Sells 2,012 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Handelsinvest Investeringsforvaltning lowered its holdings in Blueprint Medicines Co. (NASDAQ:BPMC) by 34.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,876 shares of the biotechnology company’s stock after selling 2,012 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Blueprint Medicines were worth $368,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its stake 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 buying an additional 145 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Blueprint Medicines by 28.4% during the 4th quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock worth $80,000 after buying an additional 193 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Blueprint Medicines by 1.7% during the 4th quarter. Principal Financial Group Inc. now owns 14,510 shares of the biotechnology company’s stock worth $1,338,000 after buying an additional 247 shares during the last quarter. Diversified Trust Co lifted its stake in shares of Blueprint Medicines by 2.9% during the 3rd quarter. Diversified Trust Co now owns 11,219 shares of the biotechnology company’s stock worth $563,000 after buying an additional 318 shares during the last quarter. Finally, Gilbert & Cook Inc. lifted its stake in shares of Blueprint Medicines by 8.5% during the 4th quarter. Gilbert & Cook Inc. now owns 4,846 shares of the biotechnology company’s stock worth $447,000 after buying an additional 380 shares during the last quarter.

Analyst Ratings Changes

BPMC has been the subject of several analyst reports. StockNews.com upgraded shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Piper Sandler lifted their price objective on shares of Blueprint Medicines from $78.00 to $104.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. JMP Securities reiterated a “market outperform” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a research note on Friday, June 7th. Stephens initiated coverage on shares of Blueprint Medicines in a research note on Tuesday, May 14th. They issued an “overweight” rating and a $140.00 price objective for the company. Finally, Stifel Nicolaus lifted their price objective on shares of Blueprint Medicines from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Blueprint Medicines presently has a consensus rating of “Moderate Buy” and an average target price of $110.20.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, insider Ariel Hurley sold 1,834 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $103.88, for a total transaction of $190,515.92. Following the sale, the insider now directly owns 14,913 shares of the company’s stock, valued at approximately $1,549,162.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Blueprint Medicines news, insider Ariel Hurley sold 1,834 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $103.88, for a total transaction of $190,515.92. Following the sale, the insider now directly owns 14,913 shares of the company’s stock, valued at approximately $1,549,162.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Debra Durso-Bumpus sold 74,034 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $104.19, for a total transaction of $7,713,602.46. Following the sale, the insider now directly owns 43,763 shares in the company, valued at $4,559,666.97. The disclosure for this sale can be found here. In the last three months, insiders have sold 129,231 shares of company stock valued at $13,547,878. 4.21% of the stock is owned by insiders.

Blueprint Medicines Trading Down 1.2 %

Shares of Blueprint Medicines stock opened at $109.03 on Thursday. The firm has a market capitalization of $6.83 billion, a PE ratio of -22.67 and a beta of 0.63. The company has a current ratio of 3.76, a quick ratio of 3.61 and a debt-to-equity ratio of 0.67. The firm’s 50 day moving average is $104.34 and its 200 day moving average is $93.19. Blueprint Medicines Co. has a 1 year low of $43.89 and a 1 year high of $111.89.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported ($1.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.64) by $0.32. The company had revenue of $96.12 million for the quarter, compared to analyst estimates of $82.58 million. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 193.48%. Equities research analysts forecast that Blueprint Medicines Co. will post -5.15 earnings per share for the current fiscal year.

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.