Van ECK Associates Corp Reduces Stake in Blueprint Medicines Co. (NASDAQ:BPMC)

Van ECK Associates Corp lowered its holdings in Blueprint Medicines Co. (NASDAQ:BPMC) by 32.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 753 shares of the biotechnology company’s stock after selling 363 shares during the quarter. Van ECK Associates Corp’s holdings in Blueprint Medicines were worth $64,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Emerald Mutual Fund Advisers Trust increased its holdings in shares of Blueprint Medicines by 3.7% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 288,540 shares of the biotechnology company’s stock valued at $26,690,000 after acquiring an additional 10,207 shares during the last quarter. US Bancorp DE grew its stake in Blueprint Medicines by 147.6% during the 3rd quarter. US Bancorp DE now owns 11,971 shares of the biotechnology company’s stock worth $1,107,000 after buying an additional 7,137 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Blueprint Medicines by 65.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 12,183 shares of the biotechnology company’s stock worth $1,127,000 after buying an additional 4,828 shares during the last quarter. Pallas Capital Advisors LLC grew its stake in Blueprint Medicines by 3.2% during the 3rd quarter. Pallas Capital Advisors LLC now owns 5,657 shares of the biotechnology company’s stock worth $523,000 after buying an additional 176 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Blueprint Medicines by 22.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,291 shares of the biotechnology company’s stock worth $212,000 after buying an additional 422 shares during the last quarter.

Blueprint Medicines Stock Performance

Shares of BPMC stock opened at $96.88 on Thursday. The stock has a fifty day moving average price of $89.46 and a 200 day moving average price of $98.91. The stock has a market cap of $6.15 billion, a PE ratio of -45.91 and a beta of 0.59. Blueprint Medicines Co. has a 1 year low of $61.10 and a 1 year high of $121.90. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.08. The firm had revenue of $128.20 million during the quarter, compared to analysts’ expectations of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. Blueprint Medicines’s revenue was up 126.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($2.20) earnings per share. Sell-side analysts forecast that Blueprint Medicines Co. will post -3.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BPMC has been the topic of a number of research reports. HC Wainwright restated a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a research note on Thursday, October 31st. Barclays raised their price target on Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Robert W. Baird lifted their target price on Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. StockNews.com upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Baird R W upgraded Blueprint Medicines to a “strong-buy” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $120.39.

Insiders Place Their Bets

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total transaction of $324,499.56. Following the completion of the transaction, the insider now owns 69,070 shares of the company’s stock, valued at approximately $6,169,332.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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.