Mirae Asset Global Investments Co. Ltd. Cuts Stock Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in Blueprint Medicines Co. (NASDAQ:BPMC) by 7.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,117 shares of the biotechnology company’s stock after selling 174 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Blueprint Medicines were worth $189,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in BPMC. CWM LLC lifted its holdings in Blueprint Medicines by 69.2% in the 3rd quarter. CWM LLC now owns 1,870 shares of the biotechnology company’s stock worth $173,000 after purchasing an additional 765 shares in the last quarter. Creative Planning lifted its holdings in shares of Blueprint Medicines by 6.8% in the third quarter. Creative Planning now owns 13,194 shares of the biotechnology company’s stock worth $1,220,000 after buying an additional 843 shares in the last quarter. NBC Securities Inc. grew its stake in Blueprint Medicines by 748.9% during the third quarter. NBC Securities Inc. now owns 2,725 shares of the biotechnology company’s stock valued at $252,000 after acquiring an additional 2,404 shares in the last quarter. Teamwork Financial Advisors LLC bought a new stake in Blueprint Medicines in the 3rd quarter valued at $250,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Blueprint Medicines by 40.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,206 shares of the biotechnology company’s stock worth $297,000 after purchasing an additional 927 shares in the last quarter.

Insiders Place Their Bets

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 15,000 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $89.77, for a total value of $1,346,550.00. Following the completion of the sale, the director now directly owns 157,557 shares in the company, valued at approximately $14,143,891.89. This represents a 8.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kate Haviland sold 1,446 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total value of $159,407.04. Following the transaction, the chief executive officer now directly owns 149,378 shares in the company, valued at $16,467,430.72. The trade was a 0.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,851 shares of company stock worth $4,984,696 in the last three months. Corporate insiders own 4.21% of the company’s stock.

Blueprint Medicines Price Performance

BPMC opened at $95.19 on Friday. The business has a fifty day moving average of $99.65 and a 200 day moving average of $94.77. The stock has a market cap of $6.05 billion, a P/E ratio of -45.11 and a beta of 0.62. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09. Blueprint Medicines Co. has a 52-week low of $72.24 and a 52-week high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.11). Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. As a group, sell-side analysts anticipate that Blueprint Medicines Co. will post -3.63 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BPMC shares. Piper Sandler raised their price objective on Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Stephens reaffirmed an “overweight” rating and issued a $140.00 price objective on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Wells Fargo & Company lowered their target price 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. JMP Securities restated a “market outperform” rating and issued a $125.00 price target on shares of Blueprint Medicines in a research report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Blueprint Medicines from $126.00 to $129.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $123.83.

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.