E Fund Management Co. Ltd. Lowers Stake in Blueprint Medicines Co. (NASDAQ:BPMC)

E Fund Management Co. Ltd. cut its stake in Blueprint Medicines Co. (NASDAQ:BPMC) by 24.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,493 shares of the biotechnology company’s stock after selling 2,072 shares during the period. E Fund Management Co. Ltd.’s holdings in Blueprint Medicines were worth $599,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in BPMC. Bank of New York Mellon Corp grew its stake in Blueprint Medicines by 1.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 266,744 shares of the biotechnology company’s stock worth $13,396,000 after acquiring an additional 4,127 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Blueprint Medicines by 9.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,055 shares of the biotechnology company’s stock valued at $605,000 after acquiring an additional 1,052 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Blueprint Medicines by 4.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,269 shares of the biotechnology company’s stock valued at $1,872,000 after purchasing an additional 1,417 shares during the period. Emerald Mutual Fund Advisers Trust grew its stake in Blueprint Medicines by 12.3% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 464,321 shares of the biotechnology company’s stock worth $23,318,000 after purchasing an additional 50,994 shares in the last quarter. Finally, TD Asset Management Inc raised its position in Blueprint Medicines by 65.2% during the 3rd quarter. TD Asset Management Inc now owns 316,304 shares of the biotechnology company’s stock valued at $15,885,000 after purchasing an additional 124,792 shares in the last quarter.

Analyst Ratings Changes

A number of research firms have recently issued reports on BPMC. Citigroup increased their price target on Blueprint Medicines from $65.00 to $76.00 and gave the stock a “sell” rating in a research report on Friday, May 3rd. JMP Securities raised their target price on shares of Blueprint Medicines from $114.00 to $125.00 and gave the company a “market outperform” rating in a research report on Friday, May 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $97.00 price target on shares of Blueprint Medicines in a research report on Thursday, May 2nd. Piper Sandler increased their price objective on shares of Blueprint Medicines from $78.00 to $104.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Finally, The Goldman Sachs Group boosted their price objective on shares of Blueprint Medicines from $121.00 to $168.00 and gave the stock a “buy” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $100.31.

Insider Activity

In related news, insider Christopher K. Murray sold 621 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $93.65, for a total value of $58,156.65. Following the completion of the transaction, the insider now owns 36,374 shares in the company, valued at approximately $3,406,425.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Christopher K. Murray sold 621 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $93.65, for a total value of $58,156.65. Following the transaction, the insider now owns 36,374 shares in the company, valued at approximately $3,406,425.10. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeffrey W. Albers sold 25,073 shares of Blueprint Medicines stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $87.28, for a total transaction of $2,188,371.44. Following the sale, the director now owns 176,050 shares of the company’s stock, valued at $15,365,644. The disclosure for this sale can be found here. Insiders have sold 104,123 shares of company stock valued at $9,554,679 over the last ninety days. 3.88% of the stock is currently owned by insiders.

Blueprint Medicines Stock Up 0.2 %

NASDAQ BPMC traded up $0.23 during trading on Wednesday, hitting $108.78. The company’s stock had a trading volume of 478,483 shares, compared to its average volume of 774,819. Blueprint Medicines Co. has a fifty-two week low of $43.89 and a fifty-two week high of $110.93. The company has a market cap of $6.66 billion, a PE ratio of -22.62 and a beta of 0.65. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.76 and a quick ratio of 3.61. The business’s 50 day simple moving average is $92.44 and its 200-day simple moving average is $82.00.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) EPS for the quarter, topping analysts’ consensus estimates of ($2.04) by $0.22. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 193.48%. The company had revenue of $71.96 million during the quarter, compared to analysts’ expectations of $67.34 million. During the same period last year, the business earned ($2.65) EPS. Blueprint Medicines’s revenue for the quarter was up 85.5% on a year-over-year basis. On average, equities analysts anticipate that Blueprint Medicines Co. will post -5.38 EPS for the current fiscal 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.