Pathstone Holdings LLC Reduces Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Pathstone Holdings LLC lessened its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 9.4% during the third quarter, Holdings Channel reports. The institutional investor owned 20,131 shares of the biotechnology company’s stock after selling 2,085 shares during the quarter. Pathstone Holdings LLC’s holdings in Blueprint Medicines were worth $1,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in BPMC. Triad Wealth Partners LLC purchased a new stake in Blueprint Medicines during the 2nd quarter worth about $27,000. Covestor Ltd lifted its holdings in Blueprint Medicines by 206.7% during the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 403 shares in the last quarter. CWM LLC lifted its holdings in Blueprint Medicines by 114.6% during the 2nd quarter. CWM LLC now owns 1,105 shares of the biotechnology company’s stock worth $119,000 after purchasing an additional 590 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Blueprint Medicines by 13.3% during the 2nd quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock worth $120,000 after purchasing an additional 131 shares in the last quarter. Finally, Values First Advisors Inc. purchased a new stake in Blueprint Medicines during the 3rd quarter worth about $122,000.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BPMC. UBS Group began coverage on Blueprint Medicines in a report on Thursday, October 24th. They set a “neutral” rating and a $88.00 price objective on the stock. JMP Securities reissued a “market outperform” rating and set a $125.00 price objective on shares of Blueprint Medicines in a report on Monday, November 18th. HC Wainwright reaffirmed a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a report on Friday, November 15th. Guggenheim raised their price target on Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Robert W. Baird raised their price target on Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, Blueprint Medicines has a consensus rating of “Moderate Buy” and a consensus price target of $122.11.

Insider Buying and Selling

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

Blueprint Medicines Price Performance

BPMC opened at $95.10 on Thursday. The stock’s 50 day simple moving average is $90.67 and its 200 day simple moving average is $98.28. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. Blueprint Medicines Co. has a 1 year low of $67.00 and a 1 year high of $121.90. The firm has a market cap of $6.04 billion, a price-to-earnings ratio of -45.07 and a beta of 0.59.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results 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. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The business had revenue of $128.20 million for the quarter, compared to analyst estimates of $127.56 million. During the same period last year, the company earned ($2.20) EPS. Blueprint Medicines’s revenue for the quarter was up 126.5% compared to the same quarter last year. As a group, analysts predict that Blueprint Medicines Co. will post -3.68 earnings per share for the current 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.