California State Teachers Retirement System decreased its holdings in Blueprint Medicines Corp (NASDAQ:BPMC) by 2.2% in the first quarter, Holdings Channel reports. The fund owned 63,310 shares of the biotechnology company’s stock after selling 1,408 shares during the period. California State Teachers Retirement System’s holdings in Blueprint Medicines were worth $5,068,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Partner Fund Management L.P. increased its holdings in shares of Blueprint Medicines by 2.1% during the 4th quarter. Partner Fund Management L.P. now owns 1,470,436 shares of the biotechnology company’s stock worth $79,271,000 after buying an additional 30,398 shares during the last quarter. Hillhouse Capital Advisors Ltd. acquired a new stake in shares of Blueprint Medicines during the 4th quarter worth approximately $77,142,000. Norges Bank acquired a new stake in shares of Blueprint Medicines during the 4th quarter worth approximately $42,705,000. Eagle Asset Management Inc. increased its holdings in shares of Blueprint Medicines by 0.3% during the 1st quarter. Eagle Asset Management Inc. now owns 763,908 shares of the biotechnology company’s stock worth $61,150,000 after buying an additional 2,639 shares during the last quarter. Finally, Artal Group S.A. increased its holdings in shares of Blueprint Medicines by 20.0% during the 4th quarter. Artal Group S.A. now owns 600,000 shares of the biotechnology company’s stock worth $32,346,000 after buying an additional 100,000 shares during the last quarter. Institutional investors and hedge funds own 97.46% of the company’s stock.
In related news, insider Ariel Hurley sold 415 shares of Blueprint Medicines stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $85.55, for a total value of $35,503.25. Following the completion of the sale, the insider now owns 415 shares in the company, valued at approximately $35,503.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey W. Albers sold 20,000 shares of Blueprint Medicines stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $86.39, for a total transaction of $1,727,800.00. Following the completion of the sale, the chief executive officer now owns 48,961 shares of the company’s stock, valued at approximately $4,229,740.79. The disclosure for this sale can be found here. 3.15% of the stock is currently owned by company insiders.
Blueprint Medicines stock opened at $86.19 on Thursday. Blueprint Medicines Corp has a fifty-two week low of $44.58 and a fifty-two week high of $91.80. The company has a current ratio of 6.59, a quick ratio of 6.59 and a debt-to-equity ratio of 0.27.
Blueprint Medicines (NASDAQ:BPMC) last posted its earnings results on Thursday, May 9th. The biotechnology company reported ($1.98) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.83) by ($0.15). Blueprint Medicines had a negative net margin of 603.88% and a negative return on equity of 59.26%. The company had revenue of $0.73 million during the quarter, compared to analyst estimates of $1.38 million. During the same quarter last year, the business posted ($1.29) EPS. The firm’s revenue for the quarter was down 23.2% on a year-over-year basis. On average, analysts anticipate that Blueprint Medicines Corp will post -7.76 EPS for the current year.
BPMC has been the subject of a number of recent analyst reports. BidaskClub downgraded shares of Blueprint Medicines from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Morgan Stanley initiated coverage on shares of Blueprint Medicines in a report on Wednesday, April 3rd. They set an “overweight” rating and a $112.00 price target for the company. Cowen restated a “buy” rating on shares of Blueprint Medicines in a report on Sunday, June 2nd. ValuEngine upgraded shares of Blueprint Medicines from a “buy” rating to a “strong-buy” rating in a report on Friday, May 10th. Finally, Goldman Sachs Group restated a “buy” rating and set a $125.00 price target on shares of Blueprint Medicines in a report on Thursday, May 23rd. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $105.83.
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About Blueprint Medicines
Blueprint Medicines Corporation develops drugs of small molecule kinase inhibitors that target genomic drivers in various cancers and a rare genetic disease. Its lead drug candidates include avapritinib, which completed Phase I clinical trials that targets PDGFRA Exon 18 mutant GIST and KIT-driven GIST; and BLU-554, which is in Phase I clinical trials an orally available, potent, and irreversible inhibitor of the kinase FGFR4 that is activated in a defined subset of patients with hepatocellular carcinoma.
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