Blueprint Medicines Co. (NASDAQ:BPMC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 7.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,191 shares of the biotechnology company’s stock after selling 4,479 shares during the quarter. Principal Financial Group Inc.’s holdings in Blueprint Medicines were worth $6,272,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Blueprint Medicines by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company’s stock valued at $598,564,000 after purchasing an additional 195,007 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Blueprint Medicines by 15.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,250,823 shares of the biotechnology company’s stock worth $592,954,000 after buying an additional 821,868 shares during the last quarter. Brown Advisory Inc. raised its position in shares of Blueprint Medicines by 6.1% during the 4th quarter. Brown Advisory Inc. now owns 679,920 shares of the biotechnology company’s stock valued at $62,716,000 after buying an additional 38,881 shares during the period. Norges Bank acquired a new position in Blueprint Medicines in the fourth quarter valued at approximately $55,893,000. Finally, Charles Schwab Investment Management Inc. grew its position in Blueprint Medicines by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 476,063 shares of the biotechnology company’s stock worth $43,912,000 after acquiring an additional 7,646 shares during the period.

Wall Street Analysts Forecast Growth

BPMC has been the topic of a number of research analyst reports. JMP Securities restated a “market outperform” rating and issued a $125.00 target price on shares of Blueprint Medicines in a research report on Friday, June 7th. Baird R W raised shares of Blueprint Medicines to a “strong-buy” rating in a research report on Friday, August 2nd. Oppenheimer lifted their price target on shares of Blueprint Medicines from $114.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Morgan Stanley upped their price objective on shares of Blueprint Medicines from $110.00 to $115.00 and gave the stock an “equal weight” rating in a report on Friday, July 12th. Finally, Guggenheim lifted their target price on shares of Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Blueprint Medicines currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.00.

Blueprint Medicines Stock Up 0.1 %

Blueprint Medicines stock opened at $86.55 on Tuesday. Blueprint Medicines Co. has a twelve month low of $43.89 and a twelve month high of $121.90. The stock’s fifty day simple moving average is $102.42 and its 200-day simple moving average is $99.44. The company has a current ratio of 3.71, a quick ratio of 3.65 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $5.48 billion, a P/E ratio of -17.99 and a beta of 0.58.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.49. Blueprint Medicines had a negative return on equity of 157.30% and a negative net margin of 56.64%. The business had revenue of $138.20 million for the quarter, compared to analyst estimates of $104.02 million. During the same quarter in the prior year, the company earned ($2.19) earnings per share. The company’s revenue was up 139.9% on a year-over-year basis. As a group, equities analysts expect that Blueprint Medicines Co. will post -3.99 earnings per share for the current fiscal year.

Insider Transactions at Blueprint Medicines

In related news, insider Debra Durso-Bumpus sold 74,034 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $104.19, for a total value of $7,713,602.46. Following the transaction, the insider now owns 43,763 shares of the company’s stock, valued at $4,559,666.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Debra Durso-Bumpus sold 74,034 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $104.19, for a total value of $7,713,602.46. Following the transaction, the insider now owns 43,763 shares of the company’s stock, valued at $4,559,666.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Philina Lee sold 41,913 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $93.19, for a total value of $3,905,872.47. Following the completion of the transaction, the insider now directly owns 34,729 shares in the company, valued at approximately $3,236,395.51. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 128,947 shares of company stock valued at $13,065,852. 4.21% of the stock is currently owned by company insiders.

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.