Bailard Inc. Trims Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Bailard Inc. cut its stake in Blueprint Medicines Co. (NASDAQ:BPMCGet Rating) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 97,916 shares of the biotechnology company’s stock after selling 1,023 shares during the quarter. Bailard Inc. owned about 0.17% of Blueprint Medicines worth $10,488,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP grew its position in Blueprint Medicines by 58.7% during the third quarter. Wellington Management Group LLP now owns 3,199,041 shares of the biotechnology company’s stock worth $328,893,000 after buying an additional 1,182,979 shares in the last quarter. William Blair Investment Management LLC grew its position in Blueprint Medicines by 65.8% during the third quarter. William Blair Investment Management LLC now owns 1,717,164 shares of the biotechnology company’s stock worth $176,542,000 after buying an additional 681,246 shares in the last quarter. JPMorgan Chase & Co. grew its position in Blueprint Medicines by 8.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,644,161 shares of the biotechnology company’s stock worth $176,106,000 after buying an additional 126,350 shares in the last quarter. Macquarie Group Ltd. grew its position in Blueprint Medicines by 11.6% during the third quarter. Macquarie Group Ltd. now owns 1,295,418 shares of the biotechnology company’s stock worth $133,182,000 after buying an additional 134,967 shares in the last quarter. Finally, Pictet Asset Management SA grew its position in Blueprint Medicines by 14.6% during the fourth quarter. Pictet Asset Management SA now owns 1,066,612 shares of the biotechnology company’s stock worth $114,245,000 after buying an additional 135,596 shares in the last quarter. Institutional investors own 99.69% of the company’s stock.

BPMC traded up $0.92 during midday trading on Friday, reaching $54.95. 944,105 shares of the company’s stock traded hands, compared to its average volume of 576,005. The firm has a fifty day moving average of $62.61 and a two-hundred day moving average of $80.98. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of -4.97 and a beta of 0.96. Blueprint Medicines Co. has a 52 week low of $50.96 and a 52 week high of $117.86.

Blueprint Medicines (NASDAQ:BPMCGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The biotechnology company reported ($1.79) EPS for the quarter, beating analysts’ consensus estimates of ($1.80) by $0.01. Blueprint Medicines had a negative return on equity of 35.24% and a negative net margin of 293.97%. The business had revenue of $62.70 million during the quarter, compared to analyst estimates of $39.98 million. During the same quarter in the prior year, the company posted ($1.72) EPS. Blueprint Medicines’s quarterly revenue was up 190.3% compared to the same quarter last year. As a group, equities analysts predict that Blueprint Medicines Co. will post -8.13 earnings per share for the current fiscal year.

In related news, CEO Jeffrey W. Albers sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 6th. The stock was sold at an average price of $70.11, for a total value of $350,550.00. Following the sale, the chief executive officer now owns 183,243 shares in the company, valued at approximately $12,847,166.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ariel Hurley sold 2,339 shares of the company’s stock in a transaction that occurred on Thursday, March 10th. The stock was sold at an average price of $57.15, for a total value of $133,673.85. The disclosure for this sale can be found here. Insiders have sold a total of 10,575 shares of company stock worth $677,614 in the last quarter. Company insiders own 3.34% of the company’s stock.

Several equities analysts recently commented on BPMC shares. Wedbush restated an “outperform” rating and set a $126.00 target price on shares of Blueprint Medicines in a research report on Monday, February 28th. JMP Securities reiterated a “buy” rating and issued a $152.00 price objective on shares of Blueprint Medicines in a report on Monday, April 11th. Robert W. Baird cut their price objective on Blueprint Medicines from $123.00 to $96.00 in a report on Wednesday, May 4th. HC Wainwright cut their price objective on Blueprint Medicines from $135.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, February 17th. Finally, SVB Leerink cut their price objective on Blueprint Medicines from $93.00 to $82.00 and set a “market perform” rating for the company in a report on Thursday, February 17th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Blueprint Medicines has an average rating of “Buy” and an average price target of $104.00.

Blueprint Medicines Company Profile (Get Rating)

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 non-advanced SM and other mast cell disorders; and Fisogatinib, an orally available and potent inhibitor for the treatment of hepatocellular carcinoma.

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Institutional Ownership by Quarter for Blueprint Medicines (NASDAQ:BPMC)

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