JPMorgan Chase & Co. Decreases Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

JPMorgan Chase & Co. decreased its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,155,634 shares of the biotechnology company's stock after selling 66,018 shares during the period. JPMorgan Chase & Co. owned about 1.82% of Blueprint Medicines worth $100,794,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of BPMC. Quarry LP purchased a new stake in Blueprint Medicines in the 3rd quarter valued at about $32,000. R Squared Ltd purchased a new stake in shares of Blueprint Medicines during the fourth quarter valued at approximately $51,000. Asset Management One Co. Ltd. bought a new stake in Blueprint Medicines during the fourth quarter worth $88,000. Van ECK Associates Corp lifted its holdings in Blueprint Medicines by 48.2% during the fourth quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company's stock worth $97,000 after acquiring an additional 363 shares during the period. Finally, Quantbot Technologies LP purchased a new position in Blueprint Medicines in the third quarter worth $108,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Stephens reiterated an "overweight" rating and set a $140.00 target price on shares of Blueprint Medicines in a research note on Thursday, January 2nd. StockNews.com lowered shares of Blueprint Medicines from a "hold" rating to a "sell" rating in a research report on Monday, March 3rd. JMP Securities reiterated a "market outperform" rating and issued a $125.00 target price on shares of Blueprint Medicines in a research note on Friday, February 14th. Wedbush restated an "outperform" rating and set a $128.00 price target on shares of Blueprint Medicines in a research note on Friday, February 28th. Finally, Piper Sandler upped their price objective on Blueprint Medicines from $109.00 to $119.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $124.95.

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Blueprint Medicines Price Performance

Blueprint Medicines stock traded down $1.48 during midday trading on Monday, reaching $80.20. 2,027,209 shares of the stock were exchanged, compared to its average volume of 747,532. The company's fifty day moving average is $94.84 and its 200-day moving average is $93.95. 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 52 week low of $76.50 and a 52 week high of $121.90. The firm has a market cap of $5.13 billion, a PE ratio of -74.26 and a beta of 0.75.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last released its quarterly earnings results 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 return on equity of 77.49% and a negative net margin of 13.19%. On average, sell-side analysts forecast that Blueprint Medicines Co. will post -1.28 EPS for the current year.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, insider Ariel Hurley sold 2,250 shares of the business's stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $100.00, for a total value of $225,000.00. Following the completion of the transaction, the insider now owns 14,967 shares of the company's stock, valued at $1,496,700. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kate Haviland sold 1,446 shares of the firm's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $110.24, for a total transaction of $159,407.04. Following the sale, the chief executive officer now owns 149,378 shares in the company, valued at approximately $16,467,430.72. This trade represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,608 shares of company stock valued at $3,319,587 in the last 90 days. Corporate insiders own 4.21% of the company's stock.

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.