Van ECK Associates Corp Reduces Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Van ECK Associates Corp decreased its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 32.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 753 shares of the biotechnology company’s stock after selling 363 shares during the period. Van ECK Associates Corp’s holdings in Blueprint Medicines were worth $64,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Amalgamated Bank grew its position in shares of Blueprint Medicines by 5.3% in the second quarter. Amalgamated Bank now owns 2,154 shares of the biotechnology company’s stock valued at $232,000 after purchasing an additional 109 shares during the period. EFG Asset Management North America Corp. grew its position in shares of Blueprint Medicines by 0.5% in the second quarter. EFG Asset Management North America Corp. now owns 27,884 shares of the biotechnology company’s stock valued at $3,008,000 after purchasing an additional 132 shares during the period. Pallas Capital Advisors LLC grew its position in shares of Blueprint Medicines by 3.2% in the third quarter. Pallas Capital Advisors LLC now owns 5,657 shares of the biotechnology company’s stock valued at $523,000 after purchasing an additional 176 shares during the period. US Bancorp DE grew its position 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 valued at $353,000 after purchasing an additional 183 shares during the period. Finally, Clarus Wealth Advisors grew its position in shares of Blueprint Medicines by 8.6% in the third quarter. Clarus Wealth Advisors now owns 2,590 shares of the biotechnology company’s stock valued at $231,000 after purchasing an additional 206 shares during the period.

Insider Buying and Selling

In related news, insider Fouad Namouni sold 3,633 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total value of $324,499.56. Following the transaction, the insider now owns 69,070 shares in the company, valued at approximately $6,169,332.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 4.21% of the company’s stock.

Wall Street Analyst Weigh In

BPMC has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research report on Thursday, October 31st. UBS Group assumed coverage on Blueprint Medicines in a research report on Thursday, October 24th. They issued a “neutral” rating and a $88.00 price objective for the company. Robert W. Baird boosted their price target on Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Wells Fargo & Company lowered their price target on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Finally, Needham & Company LLC reissued a “buy” rating and set a $133.00 price target on shares of Blueprint Medicines in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Blueprint Medicines currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.39.

Blueprint Medicines Trading Up 0.3 %

Shares of BPMC opened at $96.88 on Thursday. The stock’s 50-day moving average is $89.46 and its two-hundred day moving average is $98.91. The stock has a market cap of $6.15 billion, a PE ratio of -45.91 and a beta of 0.59. Blueprint Medicines Co. has a 12 month low of $61.10 and a 12 month high of $121.90. 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 released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) 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 analysts’ expectations of $127.56 million. During the same quarter in the previous year, the firm posted ($2.20) earnings per share. The company’s revenue was up 126.5% compared to the same quarter last year. Equities analysts forecast that Blueprint Medicines Co. will post -3.61 earnings per share for the current fiscal year.

Blueprint Medicines Company 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.