State of New Jersey Common Pension Fund D Has $2.11 Million Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 5.6% in the third quarter, HoldingsChannel reports. The firm owned 22,846 shares of the biotechnology company’s stock after selling 1,356 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Blueprint Medicines were worth $2,113,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Hsbc Holdings PLC bought a new position in shares of Blueprint Medicines in the second quarter valued at about $1,060,000. Comerica Bank raised its stake in shares of Blueprint Medicines by 2,582.9% in the first quarter. Comerica Bank now owns 10,839 shares of the biotechnology company’s stock worth $1,028,000 after acquiring an additional 10,435 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Blueprint Medicines by 27.8% during the second quarter. Federated Hermes Inc. now owns 62,354 shares of the biotechnology company’s stock worth $6,721,000 after purchasing an additional 13,579 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Blueprint Medicines by 82.8% during the second quarter. SG Americas Securities LLC now owns 21,684 shares of the biotechnology company’s stock valued at $2,337,000 after purchasing an additional 9,819 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Blueprint Medicines by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company’s stock worth $598,564,000 after purchasing an additional 195,007 shares during the last quarter.

Blueprint Medicines Price Performance

NASDAQ BPMC opened at $95.65 on Friday. Blueprint Medicines Co. has a 12-month low of $62.56 and a 12-month high of $121.90. The firm’s 50 day moving average is $89.55 and its 200-day moving average is $98.89. The company has a market capitalization of $6.08 billion, a PE ratio of -45.33 and a beta of 0.59. 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 (NASDAQ:BPMC) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.08. The company had revenue of $128.20 million during the quarter, compared to the consensus estimate of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The company’s quarterly revenue was up 126.5% on a year-over-year basis. During the same period in the prior year, the business posted ($2.20) EPS. Equities research analysts anticipate that Blueprint Medicines Co. will post -3.61 earnings per share for the current fiscal year.

Insider Activity at Blueprint Medicines

In other news, insider Fouad Namouni sold 3,633 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total value of $324,499.56. Following the completion of the sale, the insider now directly owns 69,070 shares of the company’s stock, valued at $6,169,332.40. This trade represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.21% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Baird R W upgraded Blueprint Medicines to a “strong-buy” rating in a research report on Friday, August 2nd. Guggenheim lifted their price objective on Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. UBS Group assumed coverage on shares of Blueprint Medicines in a research report on Thursday, October 24th. They set a “neutral” rating and a $88.00 target price on the stock. JPMorgan Chase & Co. started coverage on shares of Blueprint Medicines in a research note on Thursday. They set an “overweight” rating and a $126.00 price target for the company. Finally, Barclays raised their price objective on shares of Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $122.00.

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.