Blueprint Medicines Co. (NASDAQ:BPMC) Position Lessened by Victory Capital Management Inc.

Victory Capital Management Inc. cut its position in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 91.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,023 shares of the biotechnology company's stock after selling 174,338 shares during the quarter. Victory Capital Management Inc.'s holdings in Blueprint Medicines were worth $1,398,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in Blueprint Medicines by 22.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company's stock valued at $366,726,000 after acquiring an additional 729,055 shares during the last quarter. State Street Corp raised its stake in Blueprint Medicines by 16.2% during the 3rd quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company's stock valued at $255,827,000 after acquiring an additional 385,818 shares during the last quarter. Jennison Associates LLC purchased a new stake in Blueprint Medicines during the 4th quarter valued at approximately $31,417,000. Jacobs Levy Equity Management Inc. raised its stake in Blueprint Medicines by 161.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 496,087 shares of the biotechnology company's stock valued at $45,888,000 after acquiring an additional 306,079 shares during the last quarter. Finally, Eventide Asset Management LLC raised its stake in shares of Blueprint Medicines by 50.5% during the 3rd quarter. Eventide Asset Management LLC now owns 348,704 shares of the biotechnology company's stock worth $32,255,000 after buying an additional 117,019 shares in the last quarter.

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Analysts Set New Price Targets

BPMC has been the subject of several recent analyst reports. Jefferies Financial Group initiated coverage on Blueprint Medicines in a report on Monday, March 17th. They issued a "buy" rating and a $135.00 price target for the company. Needham & Company LLC reissued a "buy" rating and issued a $133.00 price target on shares of Blueprint Medicines in a report on Thursday, February 13th. Scotiabank assumed coverage on Blueprint Medicines in a report on Friday, March 7th. They set a "sector outperform" rating and a $150.00 price objective for the company. Wedbush reaffirmed an "outperform" rating and set a $128.00 price objective on shares of Blueprint Medicines in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. lifted their price objective on Blueprint Medicines from $126.00 to $129.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Two 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $124.95.

Insider Buying and Selling

In other news, insider Ariel Hurley sold 3,203 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.62, for a total transaction of $296,661.86. Following the completion of the sale, the insider now owns 18,270 shares in the company, valued at approximately $1,692,167.40. This represents a 14.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $110.24, for a total value of $159,407.04. Following the sale, the chief executive officer now owns 149,378 shares of the company's stock, valued at $16,467,430.72. This trade represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,334 shares of company stock valued at $3,103,512 in the last three months. 4.21% of the stock is currently owned by corporate insiders.

Blueprint Medicines Stock Up 0.3 %

Shares of NASDAQ:BPMC traded up $0.25 during trading on Friday, hitting $88.72. The company's stock had a trading volume of 1,840,670 shares, compared to its average volume of 708,936. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85. Blueprint Medicines Co. has a fifty-two week low of $80.68 and a fifty-two week high of $121.90. The stock's 50-day moving average price is $99.47 and its two-hundred day moving average price is $93.88. The company has a market capitalization of $5.67 billion, a PE ratio of -82.15 and a beta of 0.58.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) EPS for the quarter, missing the consensus estimate 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%. As a group, sell-side analysts expect that Blueprint Medicines Co. will post -1.28 EPS 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.