Fmr LLC Sells 316,913 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

FMR LLC trimmed its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 6.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,516,771 shares of the biotechnology company's stock after selling 316,913 shares during the quarter. FMR LLC owned approximately 7.11% of Blueprint Medicines worth $417,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Triad Wealth Partners LLC bought a new position in shares of Blueprint Medicines in the second quarter worth approximately $27,000. Covestor Ltd increased its position in shares of Blueprint Medicines by 206.7% in the third quarter. Covestor Ltd now owns 598 shares of the biotechnology company's stock valued at $55,000 after acquiring an additional 403 shares during the period. CWM LLC raised its stake in shares of Blueprint Medicines by 114.6% during the second quarter. CWM LLC now owns 1,105 shares of the biotechnology company's stock valued at $119,000 after acquiring an additional 590 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Blueprint Medicines by 13.3% during the second quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company's stock worth $120,000 after purchasing an additional 131 shares during the period. Finally, Values First Advisors Inc. bought a new stake in shares of Blueprint Medicines in the third quarter worth about $122,000.

Analyst Upgrades and Downgrades

BPMC has been the subject of several research analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, November 15th. Wedbush reaffirmed an "outperform" rating and issued a $135.00 price target on shares of Blueprint Medicines in a research note on Thursday, November 14th. StockNews.com raised shares of Blueprint Medicines from a "sell" rating to a "hold" rating in a research report on Friday, November 8th. JPMorgan Chase & Co. assumed coverage on shares of Blueprint Medicines in a research report on Thursday, November 14th. They issued an "overweight" rating and a $126.00 target price for the company. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $125.00 target price on shares of Blueprint Medicines in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $122.11.

Insiders Place Their Bets

In related news, insider Fouad Namouni sold 3,633 shares of the firm's stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total value of $324,499.56. Following the sale, the insider now owns 69,070 shares in the company, valued at approximately $6,169,332.40. This trade represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.21% of the company's stock.

Blueprint Medicines Stock Up 1.3 %

Blueprint Medicines stock traded up $1.28 during mid-day trading on Friday, reaching $96.38. The stock had a trading volume of 338,237 shares, compared to its average volume of 691,126. The company has a market capitalization of $6.12 billion, a price-to-earnings ratio of -45.68 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. Blueprint Medicines Co. has a one year low of $68.28 and a one year high of $121.90. The company has a 50-day moving average price of $90.97 and a two-hundred day moving average price of $98.15.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, beating analysts' consensus estimates of ($0.97) by $0.08. The firm had revenue of $128.20 million for the quarter, compared to analysts' expectations of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The business's revenue for the quarter was up 126.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($2.20) earnings per share. On average, analysts expect that Blueprint Medicines Co. will post -3.68 EPS for the current fiscal 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.