Blueprint Medicines Co. (NASDAQ:BPMC) Stake Lessened by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 1.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,613 shares of the biotechnology company’s stock after selling 179 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Blueprint Medicines were worth $1,259,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Triad Wealth Partners LLC purchased a new position in Blueprint Medicines during the 2nd quarter valued at about $27,000. Covestor Ltd boosted its holdings 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 period. CWM LLC grew its position in Blueprint Medicines by 114.6% during the second quarter. CWM LLC now owns 1,105 shares of the biotechnology company’s stock valued at $119,000 after purchasing an additional 590 shares in the last quarter. Van ECK Associates Corp increased its stake in Blueprint Medicines by 13.3% in 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 period. Finally, Quantbot Technologies LP purchased a new stake in Blueprint Medicines in the 3rd quarter worth approximately $108,000.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on BPMC shares. Wedbush reaffirmed an “outperform” rating and issued a $135.00 price target on shares of Blueprint Medicines in a research note on Thursday, November 14th. StockNews.com raised Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. JMP Securities reiterated a “market outperform” rating and set a $125.00 price target on shares of Blueprint Medicines in a report on Monday, November 18th. JPMorgan Chase & Co. assumed coverage on Blueprint Medicines in a report on Thursday, November 14th. They issued an “overweight” rating and a $126.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Blueprint Medicines has an average rating of “Moderate Buy” and a consensus target price of $122.11.

Insider Activity

In other Blueprint Medicines news, CEO Kate Haviland sold 2,353 shares of Blueprint Medicines stock in a transaction on Friday, November 29th. The stock was sold at an average price of $96.60, for a total value of $227,299.80. Following the completion of the transaction, the chief executive officer now owns 150,824 shares in the company, valued at approximately $14,569,598.40. The trade was a 1.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $324,499.56. Following the sale, the insider now owns 69,070 shares in the company, valued at $6,169,332.40. The trade was a 5.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,260 shares of company stock worth $768,057. Insiders own 4.21% of the company’s stock.

Blueprint Medicines Price Performance

Shares of BPMC stock opened at $95.08 on Friday. The stock’s fifty day simple moving average is $91.43 and its 200 day simple moving average is $97.91. Blueprint Medicines Co. has a one year low of $70.89 and a one year high of $121.90. The firm has a market cap of $6.04 billion, a price-to-earnings ratio of -45.74 and a beta of 0.59. 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 (NASDAQ:BPMC) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.08. The business had revenue of $128.20 million during the quarter, compared to analysts’ expectations of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The firm’s revenue for the quarter was up 126.5% on a year-over-year basis. During the same quarter last year, the company posted ($2.20) EPS. On average, analysts expect that Blueprint Medicines Co. will post -3.68 earnings per share 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.