ProShare Advisors LLC Trims Stock Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

ProShare Advisors LLC lessened its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 21.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,012 shares of the biotechnology company’s stock after selling 3,206 shares during the quarter. ProShare Advisors LLC’s holdings in Blueprint Medicines were worth $1,295,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Amalgamated Bank raised its holdings in shares of Blueprint Medicines by 5.3% during the second quarter. Amalgamated Bank now owns 2,154 shares of the biotechnology company’s stock worth $232,000 after purchasing an additional 109 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Blueprint Medicines by 13.3% during the 2nd quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $120,000 after buying an additional 131 shares during the last quarter. EFG Asset Management North America Corp. lifted its holdings in shares of Blueprint Medicines by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 27,884 shares of the biotechnology company’s stock valued at $3,008,000 after buying an additional 132 shares during the period. US Bancorp DE boosted its stake in shares of Blueprint Medicines by 5.2% in the first quarter. US Bancorp DE now owns 3,724 shares of the biotechnology company’s stock worth $353,000 after buying an additional 183 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Blueprint Medicines by 1.7% during the fourth quarter. Principal Financial Group Inc. now owns 14,510 shares of the biotechnology company’s stock worth $1,338,000 after acquiring an additional 247 shares during the period.

Wall Street Analyst Weigh In

BPMC has been the topic of several recent research reports. Robert W. Baird upped their price objective on Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and set a $130.00 price target on shares of Blueprint Medicines in a research report on Thursday, August 1st. Guggenheim upped their price objective on shares of Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Barclays raised their target price on Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Finally, Morgan Stanley upped their price target on Blueprint Medicines from $110.00 to $115.00 and gave the stock an “equal weight” rating in a report on Friday, July 12th. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $120.00.

Insiders Place Their Bets

In other Blueprint Medicines news, insider Debra Durso-Bumpus sold 8,817 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $111.29, for a total value of $981,243.93. Following the completion of the sale, the insider now directly owns 43,763 shares of the company’s stock, valued at approximately $4,870,384.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Blueprint Medicines news, insider Philina Lee sold 41,913 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 34,729 shares in the company, valued at approximately $3,236,395.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Debra Durso-Bumpus sold 8,817 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $111.29, for a total transaction of $981,243.93. Following the sale, the insider now owns 43,763 shares of the company’s stock, valued at approximately $4,870,384.27. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,580 shares of company stock valued at $5,315,236. Insiders own 4.21% of the company’s stock.

Blueprint Medicines Price Performance

Shares of NASDAQ BPMC opened at $92.55 on Friday. The firm has a 50-day simple moving average of $95.09 and a 200-day simple moving average of $98.99. The company has a quick ratio of 3.65, a current ratio of 3.71 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of -19.24 and a beta of 0.58. Blueprint Medicines Co. has a 52 week low of $43.89 and a 52 week high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results 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. The business had revenue of $138.20 million for the quarter, compared to analyst estimates of $104.02 million. Blueprint Medicines had a negative net margin of 56.64% and a negative return on equity of 157.30%. The business’s revenue was up 139.9% on a year-over-year basis. During the same period last year, the company posted ($2.19) EPS. On average, equities analysts predict that Blueprint Medicines Co. will post -3.99 earnings per share for the current fiscal year.

Blueprint Medicines 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.