Prime Capital Investment Advisors LLC Cuts Stake in Blueprint Medicines Co. (NASDAQ:BPMC)

Prime Capital Investment Advisors LLC lessened its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 65.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,464 shares of the biotechnology company’s stock after selling 6,476 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Blueprint Medicines were worth $320,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BPMC. Hsbc Holdings PLC purchased a new stake in Blueprint Medicines in the 2nd quarter valued at approximately $1,060,000. Comerica Bank boosted 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 valued at $1,028,000 after buying an additional 10,435 shares in the last quarter. Federated Hermes Inc. grew its holdings in 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 acquiring an additional 13,579 shares during the period. SG Americas Securities LLC raised its position in Blueprint Medicines by 82.8% in the second quarter. SG Americas Securities LLC now owns 21,684 shares of the biotechnology company’s stock worth $2,337,000 after acquiring an additional 9,819 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Blueprint Medicines by 3.2% in the first quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company’s stock valued at $598,564,000 after acquiring an additional 195,007 shares during the period.

Insider Activity at Blueprint Medicines

In other news, insider Fouad Namouni sold 3,633 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total transaction 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. The trade was a 5.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.21% of the stock is owned by insiders.

Blueprint Medicines Price Performance

BPMC stock opened at $88.69 on Friday. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of -42.03 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 Co. has a 52-week low of $62.56 and a 52-week high of $121.90. The stock’s fifty day simple moving average is $89.59 and its 200-day simple moving average is $98.91.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.08. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The firm had revenue of $128.20 million for the quarter, compared to analyst estimates of $127.56 million. During the same period last year, the company earned ($2.20) EPS. The firm’s quarterly revenue was up 126.5% on a year-over-year basis. Equities research analysts expect that Blueprint Medicines Co. will post -3.61 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BPMC shares. StockNews.com upgraded shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, November 8th. JPMorgan Chase & Co. initiated coverage on shares of Blueprint Medicines in a research report on Thursday. They set an “overweight” rating and a $126.00 price target for the company. Wedbush reissued an “outperform” rating and set a $135.00 price target on shares of Blueprint Medicines in a research note on Thursday. HC Wainwright reaffirmed a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a report on Friday. Finally, Baird R W raised Blueprint Medicines to a “strong-buy” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $122.11.

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.