Principal Financial Group Inc. Sells 47,153 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Principal Financial Group Inc. trimmed its position in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 81.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,038 shares of the biotechnology company's stock after selling 47,153 shares during the quarter. Principal Financial Group Inc.'s holdings in Blueprint Medicines were worth $1,021,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Triad Wealth Partners LLC bought a new position in Blueprint Medicines during the 2nd quarter worth $27,000. Covestor Ltd grew its stake in Blueprint Medicines by 9,700.0% during the 1st quarter. Covestor Ltd now owns 294 shares of the biotechnology company's stock worth $28,000 after buying an additional 291 shares during the last quarter. Natixis bought a new position in Blueprint Medicines during the 1st quarter worth $73,000. CWM LLC grew its stake in Blueprint Medicines by 114.6% during the 2nd quarter. CWM LLC now owns 1,105 shares of the biotechnology company's stock worth $119,000 after buying an additional 590 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in Blueprint Medicines by 13.3% during the 2nd quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company's stock worth $120,000 after buying an additional 131 shares during the last quarter.

Blueprint Medicines Stock Down 2.6 %

BPMC stock traded down $2.47 during mid-day trading on Friday, hitting $94.15. The stock had a trading volume of 663,581 shares, compared to its average volume of 746,414. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09. Blueprint Medicines Co. has a 1-year low of $66.61 and a 1-year high of $121.90. The company has a fifty day moving average of $90.36 and a 200 day moving average of $98.46. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of -44.62 and a beta of 0.59.

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

Wall Street Analysts Forecast Growth

BPMC has been the subject of a number of recent research reports. UBS Group initiated coverage on Blueprint Medicines in a research note on Thursday, October 24th. They set a "neutral" rating and a $88.00 price objective for the company. HC Wainwright reiterated a "buy" rating and set a $135.00 price target on shares of Blueprint Medicines in a research report on Friday, November 15th. Needham & Company LLC reiterated a "buy" rating and set a $135.00 price target on shares of Blueprint Medicines in a research report on Friday, November 15th. Baird R W upgraded Blueprint Medicines to a "strong-buy" rating in a research report on Friday, August 2nd. Finally, StockNews.com upgraded Blueprint Medicines from a "sell" rating to a "hold" rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Blueprint Medicines presently has an average rating of "Moderate Buy" and a consensus price target of $122.11.

Insider Activity

In other news, insider Fouad Namouni sold 3,633 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total transaction of $324,499.56. Following the transaction, the insider now owns 69,070 shares of the company's stock, valued at approximately $6,169,332.40. This represents a 5.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 4.21% of the stock is currently owned by 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.