Renaissance Technologies LLC Decreases Stock Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Renaissance Technologies LLC lessened its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 27.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 126,300 shares of the biotechnology company’s stock after selling 48,200 shares during the period. Renaissance Technologies LLC’s holdings in Blueprint Medicines were worth $11,016,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Blueprint Medicines by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 6,774,884 shares of the biotechnology company’s stock valued at $590,905,000 after purchasing an additional 91,450 shares during the period. Wellington Management Group LLP grew its position in shares of Blueprint Medicines by 8.0% in the 4th quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company’s stock worth $373,421,000 after buying an additional 316,754 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of Blueprint Medicines by 16.1% during the fourth quarter. William Blair Investment Management LLC now owns 1,944,695 shares of the biotechnology company’s stock valued at $169,616,000 after buying an additional 269,896 shares during the period. Geode Capital Management LLC raised its holdings in shares of Blueprint Medicines by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,490,101 shares of the biotechnology company’s stock valued at $129,996,000 after acquiring an additional 9,914 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its stake in Blueprint Medicines by 1.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,183,682 shares of the biotechnology company’s stock worth $103,241,000 after buying an additional 17,175 shares in the last quarter.

Insider Transactions at Blueprint Medicines

In related news, COO Christina Rossi sold 2,274 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $110.14, for a total transaction of $250,458.36. Following the sale, the chief operating officer now directly owns 67,109 shares of the company’s stock, valued at approximately $7,391,385.26. This represents a 3.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 transaction of $159,407.04. Following the sale, the chief executive officer now directly owns 149,378 shares in the company, valued at $16,467,430.72. This trade represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,358 shares of company stock worth $2,583,187 in the last three months. Company insiders own 4.21% of the company’s stock.

Blueprint Medicines Price Performance

Shares of NASDAQ:BPMC opened at $82.11 on Thursday. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15. The company has a 50-day moving average price of $89.33 and a 200 day moving average price of $93.31. The company has a market cap of $5.25 billion, a P/E ratio of -76.03 and a beta of 0.75. Blueprint Medicines Co. has a 52 week low of $73.04 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 13.19% and a negative return on equity of 77.49%. Research analysts predict that Blueprint Medicines Co. will post -1.28 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on BPMC shares. Piper Sandler increased their target price on Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. JMP Securities reiterated a “market outperform” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a research note on Friday, February 14th. Needham & Company LLC reiterated a “buy” rating and set a $133.00 price target on shares of Blueprint Medicines in a research note on Tuesday, April 8th. Morgan Stanley started coverage on Blueprint Medicines in a research report on Thursday, March 20th. They set an “equal weight” rating and a $100.00 target price on the stock. Finally, Stephens reissued an “overweight” rating and issued a $140.00 target price on shares of Blueprint Medicines in a report on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $124.95.

Blueprint Medicines 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.