Novo Holdings A S Has $18.86 Million Stake in Blueprint Medicines Co. (NASDAQ:BPMC)

Novo Holdings A S reduced its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 51.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 175,000 shares of the biotechnology company’s stock after selling 183,626 shares during the period. Novo Holdings A S’s holdings in Blueprint Medicines were worth $18,862,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Triad Wealth Partners LLC purchased a new position in shares of Blueprint Medicines during the second quarter valued at $27,000. Covestor Ltd grew its stake in Blueprint Medicines by 9,700.0% during the 1st quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 291 shares in the last quarter. Headlands Technologies LLC grew its stake in Blueprint Medicines by 105.2% during the 1st quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock valued at $63,000 after acquiring an additional 342 shares in the last quarter. Natixis acquired a new position in shares of Blueprint Medicines in the 1st quarter valued at about $73,000. Finally, CWM LLC lifted its position in shares of Blueprint Medicines by 114.6% in the second 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.

Insider Transactions at Blueprint Medicines

In related news, insider Debra Durso-Bumpus sold 8,817 shares of the 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 completion of the sale, the insider now owns 43,763 shares in the company, valued at approximately $4,870,384.27. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Debra Durso-Bumpus sold 8,817 shares of the company’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 completion of the transaction, the insider now directly owns 43,763 shares in the company, valued at $4,870,384.27. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Philina Lee sold 41,913 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 34,729 shares of the company’s stock, valued at $3,236,395.51. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,580 shares of company stock worth $5,315,236. Company insiders own 4.21% of the company’s stock.

Blueprint Medicines Trading Up 3.9 %

NASDAQ:BPMC opened at $92.55 on Monday. The company’s 50 day moving average is $95.09 and its 200-day moving average is $99.05. The company has a quick ratio of 3.65, a current ratio of 3.71 and a debt-to-equity ratio of 1.06. Blueprint Medicines Co. has a 12 month low of $43.89 and a 12 month high of $121.90. The firm has a market cap of $5.80 billion, a price-to-earnings ratio of -19.24 and a beta of 0.58.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) EPS for the quarter, topping the consensus estimate of ($1.29) by $0.49. Blueprint Medicines had a negative net margin of 56.64% and a negative return on equity of 157.30%. The firm had revenue of $138.20 million for the quarter, compared to the consensus estimate of $104.02 million. During the same quarter last year, the firm posted ($2.19) EPS. The business’s quarterly revenue was up 139.9% on a year-over-year basis. Equities analysts anticipate that Blueprint Medicines Co. will post -3.99 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on BPMC. Guggenheim boosted their price objective on shares of Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Robert W. Baird boosted their price target on shares of Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Morgan Stanley upped their price target on shares of Blueprint Medicines from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Friday, July 12th. Oppenheimer lifted their price objective on Blueprint Medicines from $114.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Finally, Baird R W upgraded Blueprint Medicines to a “strong-buy” rating in a research note on Friday, August 2nd. 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.00.

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.