Principal Financial Group Inc. Has $1.02 Million Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Principal Financial Group Inc. decreased its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 81.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,038 shares of the biotechnology company’s stock after selling 47,153 shares during the period. Principal Financial Group Inc.’s holdings in Blueprint Medicines were worth $1,021,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BPMC. Wellington Management Group LLP increased its stake in shares of Blueprint Medicines by 22.5% in the third quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company’s stock worth $366,726,000 after purchasing an additional 729,055 shares during the period. State Street Corp grew its holdings in Blueprint Medicines by 16.2% in the 3rd quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock valued at $255,827,000 after buying an additional 385,818 shares during the last quarter. Geode Capital Management LLC increased its position in Blueprint Medicines by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,480,187 shares of the biotechnology company’s stock worth $136,942,000 after buying an additional 20,703 shares during the period. American Century Companies Inc. lifted its holdings in shares of Blueprint Medicines by 4.2% during the second quarter. American Century Companies Inc. now owns 802,733 shares of the biotechnology company’s stock worth $86,519,000 after buying an additional 32,600 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of Blueprint Medicines by 540.0% in the second quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company’s stock valued at $67,646,000 after acquiring an additional 529,566 shares during the period.

Insider Buying and Selling

In other news, insider Ariel Hurley sold 1,819 shares of Blueprint Medicines stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $93.26, for a total value of $169,639.94. Following the completion of the sale, the insider now directly owns 14,967 shares of the company’s stock, valued at approximately $1,395,822.42. This trade represents a 10.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kate Haviland sold 2,353 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $96.60, for a total value of $227,299.80. Following the transaction, the chief executive officer now directly owns 150,824 shares in the company, valued at $14,569,598.40. This trade represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,720 shares of company stock worth $2,177,846 in the last quarter. Insiders own 4.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of Blueprint Medicines in a research note on Thursday, November 14th. They set an “overweight” rating and a $126.00 target price for the company. Wells Fargo & Company decreased their target price on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and issued a $125.00 price target on shares of Blueprint Medicines in a report on Monday, December 9th. StockNews.com raised Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Finally, Stephens reiterated an “overweight” rating and set a $140.00 price target on shares of Blueprint Medicines in a research note on Thursday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $123.33.

Blueprint Medicines Stock Performance

Shares of NASDAQ:BPMC opened at $88.35 on Friday. The business has a fifty day moving average of $93.04 and a 200-day moving average of $95.96. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32. Blueprint Medicines Co. has a twelve month low of $72.24 and a twelve month high of $121.90. The firm has a market cap of $5.61 billion, a PE ratio of -41.87 and a beta of 0.61.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, beating the consensus estimate of ($0.97) by $0.08. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The firm had revenue of $128.20 million during the quarter, compared to analysts’ expectations of $127.56 million. During the same quarter last year, the company posted ($2.20) EPS. The company’s quarterly revenue was up 126.5% compared to the same quarter last year. On average, equities research analysts predict that Blueprint Medicines Co. will post -3.68 EPS 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.