Amalgamated Bank cut its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC – Free Report) by 13.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 8,470 shares of the biotechnology company’s stock after selling 1,310 shares during the quarter. Amalgamated Bank’s holdings in Blueprint Medicines were worth $381,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Strs Ohio lifted its holdings in shares of Blueprint Medicines by 15.8% during the 1st quarter. Strs Ohio now owns 2,200 shares of the biotechnology company’s stock valued at $98,000 after acquiring an additional 300 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Blueprint Medicines by 51.2% during the 4th quarter. Van ECK Associates Corp now owns 986 shares of the biotechnology company’s stock valued at $43,000 after acquiring an additional 334 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Blueprint Medicines by 2.5% during the 4th quarter. Principal Financial Group Inc. now owns 15,999 shares of the biotechnology company’s stock valued at $701,000 after acquiring an additional 393 shares in the last quarter. Captrust Financial Advisors lifted its holdings in shares of Blueprint Medicines by 2.5% during the 1st quarter. Captrust Financial Advisors now owns 16,206 shares of the biotechnology company’s stock valued at $1,035,000 after acquiring an additional 401 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Blueprint Medicines by 2.9% during the 1st quarter. Arizona State Retirement System now owns 17,336 shares of the biotechnology company’s stock valued at $780,000 after acquiring an additional 485 shares in the last quarter.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $65.00 target price on shares of Blueprint Medicines in a report on Wednesday, August 2nd. The Goldman Sachs Group cut their price objective on shares of Blueprint Medicines from $93.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, August 3rd. Morgan Stanley boosted their price objective on shares of Blueprint Medicines from $55.00 to $59.00 and gave the stock an “equal weight” rating in a report on Thursday, August 3rd. JMP Securities reiterated a “market outperform” rating and issued a $114.00 price objective on shares of Blueprint Medicines in a report on Monday. Finally, VNET Group reiterated a “maintains” rating on shares of Blueprint Medicines in a report on Friday, May 5th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Blueprint Medicines presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.76.
View Our Latest Stock Report on BPMC
Insiders Place Their Bets
In other Blueprint Medicines news, insider Percy H. Carter sold 2,307 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $52.06, for a total value of $120,102.42. Following the completion of the transaction, the insider now owns 38,117 shares in the company, valued at approximately $1,984,371.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.88% of the stock is owned by insiders.
Blueprint Medicines Price Performance
Shares of NASDAQ:BPMC opened at $47.14 on Tuesday. Blueprint Medicines Co. has a fifty-two week low of $37.82 and a fifty-two week high of $79.40. The company has a quick ratio of 4.70, a current ratio of 4.80 and a debt-to-equity ratio of 0.39. The company has a market cap of $2.86 billion, a PE ratio of -5.11 and a beta of 0.74. The firm has a 50-day simple moving average of $59.43 and a 200 day simple moving average of $51.62.
Blueprint Medicines (NASDAQ:BPMC – Get Free Report) last posted its earnings results on Wednesday, August 2nd. The biotechnology company reported ($2.19) EPS for the quarter, topping the consensus estimate of ($2.58) by $0.39. Blueprint Medicines had a negative net margin of 245.62% and a negative return on equity of 117.88%. The firm had revenue of $57.60 million during the quarter, compared to analysts’ expectations of $45.60 million. During the same quarter in the prior year, the firm earned ($2.68) EPS. Blueprint Medicines’s quarterly revenue was up 57.8% on a year-over-year basis. On average, sell-side analysts anticipate that Blueprint Medicines Co. will post -9.15 EPS for the current 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; and Fisogatinib.
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