Blueprint Medicines Co. (NASDAQ:BPMC) Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. lowered its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 21.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,713 shares of the biotechnology company's stock after selling 4,844 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in Blueprint Medicines were worth $1,545,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its stake in shares of 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 worth $366,726,000 after purchasing an additional 729,055 shares during the period. Norges Bank purchased a new position in Blueprint Medicines during the fourth quarter worth about $62,028,000. State Street Corp boosted its stake in Blueprint Medicines by 16.2% in the 3rd quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company's stock worth $255,827,000 after buying an additional 385,818 shares during the last quarter. Jennison Associates LLC purchased a new stake in Blueprint Medicines in the 4th quarter valued at about $31,417,000. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of 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.

Wall Street Analysts Forecast Growth

BPMC has been the topic of several research analyst reports. Piper Sandler raised their target price on shares of Blueprint Medicines from $109.00 to $119.00 and gave the stock a "neutral" rating in a research report on Monday, January 27th. JMP Securities reissued a "market outperform" rating and set a $125.00 price target on shares of Blueprint Medicines in a research report on Friday, February 14th. Scotiabank assumed coverage on Blueprint Medicines in a report on Friday, March 7th. They issued a "sector outperform" rating and a $150.00 price objective on the stock. Wedbush reiterated an "outperform" rating and set a $128.00 target price on shares of Blueprint Medicines in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. raised their price target on shares of Blueprint Medicines from $126.00 to $129.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. 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 company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $124.95.

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Blueprint Medicines Stock Down 1.8 %

Shares of Blueprint Medicines stock traded down $1.48 on Monday, hitting $80.20. 2,027,209 shares of the company's stock traded hands, compared to its average volume of 747,532. Blueprint Medicines Co. has a 52-week low of $76.50 and a 52-week high of $121.90. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15. The stock has a market cap of $5.13 billion, a P/E ratio of -74.26 and a beta of 0.75. The firm's 50-day moving average is $94.84 and its 200 day moving average is $93.95.

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 return on equity of 77.49% and a negative net margin of 13.19%. Equities analysts anticipate that Blueprint Medicines Co. will post -1.28 earnings per share for the current year.

Insider Buying and Selling at Blueprint Medicines

In related news, CEO Kate Haviland sold 1,446 shares of the firm's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total transaction of $159,407.04. Following the transaction, the chief executive officer now directly owns 149,378 shares in the company, valued at $16,467,430.72. This trade represents a 0.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ariel Hurley sold 2,250 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $100.00, for a total transaction of $225,000.00. Following the sale, the insider now directly owns 14,967 shares in the company, valued at $1,496,700. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,608 shares of company stock worth $3,319,587 over the last quarter. 4.21% of the stock is owned by corporate insiders.

About Blueprint Medicines

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.