Pathstone Holdings LLC Sells 2,085 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Pathstone Holdings LLC cut its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 9.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,131 shares of the biotechnology company’s stock after selling 2,085 shares during the quarter. Pathstone Holdings LLC’s holdings in Blueprint Medicines were worth $1,862,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hsbc Holdings PLC bought a new position in shares of Blueprint Medicines in the second quarter valued at $1,060,000. Comerica Bank lifted its holdings in Blueprint Medicines by 2,582.9% during the 1st quarter. Comerica Bank now owns 10,839 shares of the biotechnology company’s stock valued at $1,028,000 after purchasing an additional 10,435 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Blueprint Medicines by 27.8% during the 2nd quarter. Federated Hermes Inc. now owns 62,354 shares of the biotechnology company’s stock valued at $6,721,000 after purchasing an additional 13,579 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Blueprint Medicines by 82.8% during the 2nd 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, Nicholas Investment Partners LP acquired a new stake in Blueprint Medicines during the 2nd quarter valued at $4,377,000.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the business’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 transaction, the insider now directly owns 69,070 shares of the company’s stock, valued at approximately $6,169,332.40. The trade was a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.21% of the company’s stock.

Analyst Upgrades and Downgrades

BPMC has been the subject of several research reports. StockNews.com raised Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Baird R W raised Blueprint Medicines to a “strong-buy” rating in a report on Friday, August 2nd. Robert W. Baird raised their price target on Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Wedbush reaffirmed an “outperform” rating and set a $135.00 price target on shares of Blueprint Medicines in a report on Thursday, November 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $122.11.

Blueprint Medicines Stock Performance

NASDAQ:BPMC opened at $95.10 on Thursday. The stock has a market cap of $6.04 billion, a P/E ratio of -45.07 and a beta of 0.59. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09. The stock’s 50-day moving average is $90.67 and its 200-day moving average is $98.28. Blueprint Medicines Co. has a 1-year low of $67.00 and a 1-year high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.08. The company had revenue of $128.20 million for the quarter, compared to analysts’ expectations of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The business’s quarterly revenue was up 126.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($2.20) earnings per share. Equities research analysts anticipate that Blueprint Medicines Co. will post -3.68 earnings per share for the current 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.