California Public Employees Retirement System Sells 24,735 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

California Public Employees Retirement System reduced its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 24.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 78,450 shares of the biotechnology company's stock after selling 24,735 shares during the period. California Public Employees Retirement System owned 0.12% of Blueprint Medicines worth $6,842,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Torray Investment Partners LLC grew its stake in Blueprint Medicines by 1.1% during the fourth quarter. Torray Investment Partners LLC now owns 16,499 shares of the biotechnology company's stock worth $1,439,000 after purchasing an additional 186 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Blueprint Medicines by 0.7% during the 3rd quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company's stock worth $3,259,000 after buying an additional 265 shares in the last quarter. Hillsdale Investment Management Inc. grew its position in shares of Blueprint Medicines by 0.6% during the 4th quarter. Hillsdale Investment Management Inc. now owns 50,830 shares of the biotechnology company's stock worth $4,433,000 after buying an additional 310 shares during the period. Quarry LP bought a new stake in shares of Blueprint Medicines in the 3rd quarter valued at $32,000. Finally, Van ECK Associates Corp lifted its position in shares of Blueprint Medicines by 48.2% during the 4th quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company's stock valued at $97,000 after acquiring an additional 363 shares during the period.

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Insider Activity at Blueprint Medicines

In other news, CEO Kate Haviland sold 1,446 shares of the business's stock in a transaction that occurred 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. The trade was a 0.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Christina Rossi sold 2,274 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $95.02, for a total transaction of $216,075.48. Following the completion of the transaction, the chief operating officer now directly owns 69,266 shares of the company's stock, valued at approximately $6,581,655.32. This trade represents a 3.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,608 shares of company stock worth $3,319,587. Company insiders own 4.21% of the company's stock.

Blueprint Medicines Stock Performance

BPMC traded up $0.57 during trading on Friday, hitting $80.84. 1,646,653 shares of the company traded hands, compared to its average volume of 763,520. The firm has a market cap of $5.17 billion, a P/E ratio of -74.85 and a beta of 0.75. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15. Blueprint Medicines Co. has a one year low of $73.04 and a one year high of $121.90. The stock's fifty day moving average is $90.91 and its 200 day moving average is $93.51.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share 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, equities analysts predict that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. JMP Securities restated a "market outperform" rating and issued a $125.00 price target on shares of Blueprint Medicines in a report on Friday, February 14th. Jefferies Financial Group started coverage on Blueprint Medicines in a research report on Monday, March 17th. They issued a "buy" rating and a $135.00 target price for the company. Needham & Company LLC reiterated a "buy" rating and issued a $133.00 price target on shares of Blueprint Medicines in a report on Tuesday. HC Wainwright reissued a "buy" rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research note on Friday, February 14th. Finally, Wolfe Research assumed coverage on Blueprint Medicines in a research report on Tuesday, March 18th. They set an "outperform" rating on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $124.95.

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.