Blueprint Medicines Co. (NASDAQ:BPMC) Stock Holdings Cut by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 28.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 190,361 shares of the biotechnology company's stock after selling 74,634 shares during the period. Victory Capital Management Inc. owned approximately 0.30% of Blueprint Medicines worth $17,608,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Triad Wealth Partners LLC acquired a new stake in shares of Blueprint Medicines during the second quarter worth about $27,000. Covestor Ltd increased its position in shares of Blueprint Medicines by 9,700.0% during the first quarter. Covestor Ltd now owns 294 shares of the biotechnology company's stock worth $28,000 after purchasing an additional 291 shares in the last quarter. Natixis purchased a new position in shares of Blueprint Medicines during the first quarter worth about $73,000. CWM LLC grew its holdings 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 worth $119,000 after buying an additional 590 shares during the last quarter. Finally, Van ECK Associates Corp grew 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 buying an additional 131 shares during the last quarter.

Blueprint Medicines Stock Up 0.2 %

Blueprint Medicines stock traded up $0.21 during trading on Wednesday, reaching $94.81. 566,224 shares of the company's stock were exchanged, compared to its average volume of 692,467. The company's 50-day moving average is $90.00 and its two-hundred day moving average is $98.70. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32. Blueprint Medicines Co. has a 52-week low of $64.79 and a 52-week high of $121.90. The firm has a market cap of $6.02 billion, a price-to-earnings ratio of -44.93 and a beta of 0.59.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS 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 business had revenue of $128.20 million for the quarter, compared to analysts' expectations of $127.56 million. During the same quarter in the previous year, the firm posted ($2.20) earnings per share. The company's revenue was up 126.5% compared to the same quarter last year. On average, analysts predict that Blueprint Medicines Co. will post -3.61 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. JMP Securities reaffirmed a "market outperform" rating and issued a $125.00 price objective on shares of Blueprint Medicines in a report on Monday. Baird R W raised Blueprint Medicines to a "strong-buy" rating in a report on Friday, August 2nd. Barclays lifted their price objective on Blueprint Medicines from $75.00 to $105.00 and gave the company an "equal weight" rating in a report on Monday, July 29th. Robert W. Baird lifted their price objective on Blueprint Medicines from $112.00 to $127.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. Finally, UBS Group initiated coverage on Blueprint Medicines in a report on Thursday, October 24th. They issued a "neutral" rating and a $88.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Blueprint Medicines has an average rating of "Moderate Buy" and a consensus target price of $122.11.

Insider Buying and Selling at Blueprint Medicines

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

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.