Blueprint Medicines Co. (NASDAQ:BPMC) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 28.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 190,361 shares of the biotechnology company’s stock after selling 74,634 shares during the quarter. Victory Capital Management Inc.’s holdings in Blueprint Medicines were worth $17,608,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Entropy Technologies LP purchased a new stake in shares of Blueprint Medicines during the third quarter worth approximately $999,000. Covestor Ltd raised its stake in shares of Blueprint Medicines by 206.7% during the third quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 403 shares during the last quarter. M&G PLC purchased a new stake in shares of Blueprint Medicines during the third quarter worth approximately $9,101,000. Emerald Advisers LLC raised its stake in shares of Blueprint Medicines by 10.2% during the third quarter. Emerald Advisers LLC now owns 375,866 shares of the biotechnology company’s stock worth $34,768,000 after purchasing an additional 34,666 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust raised its stake in shares of Blueprint Medicines by 3.7% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 288,540 shares of the biotechnology company’s stock worth $26,690,000 after purchasing an additional 10,207 shares during the last quarter.

Blueprint Medicines Stock Up 4.9 %

Blueprint Medicines stock opened at $94.60 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32. The firm has a market capitalization of $6.01 billion, a price-to-earnings ratio of -44.83 and a beta of 0.59. Blueprint Medicines Co. has a fifty-two week low of $63.50 and a fifty-two week high of $121.90. The stock’s fifty day moving average is $89.84 and its two-hundred day moving average is $98.73.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.08. The business had revenue of $128.20 million for the quarter, compared to analyst estimates of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The business’s revenue for the quarter was up 126.5% compared to the same quarter last year. During the same quarter last year, the company earned ($2.20) earnings per share. Analysts predict that Blueprint Medicines Co. will post -3.61 EPS for the current fiscal year.

Analysts Set New Price Targets

BPMC has been the subject of several analyst reports. Wells Fargo & Company cut their price target on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. UBS Group began coverage on Blueprint Medicines in a research note on Thursday, October 24th. They set a “neutral” rating and a $88.00 price target for the company. StockNews.com upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research report on Friday, November 15th. Finally, JPMorgan Chase & Co. began coverage on Blueprint Medicines in a research report on Thursday, November 14th. They issued an “overweight” rating and a $126.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Blueprint Medicines has a consensus rating of “Moderate Buy” and an average target price of $122.11.

Insider Activity at Blueprint Medicines

In related news, insider Fouad Namouni sold 3,633 shares of the 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 sale, the insider now owns 69,070 shares of the company’s stock, valued at $6,169,332.40. This trade represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.21% of the company’s stock.

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.