Wells Fargo & Company MN Cuts Stock Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Wells Fargo & Company MN decreased its position in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 38.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,732 shares of the biotechnology company's stock after selling 25,925 shares during the quarter. Wells Fargo & Company MN owned approximately 0.06% of Blueprint Medicines worth $3,553,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Blueprint Medicines by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 6,774,884 shares of the biotechnology company's stock valued at $590,905,000 after buying an additional 91,450 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Blueprint Medicines by 8.0% during the fourth quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company's stock valued at $373,421,000 after acquiring an additional 316,754 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in Blueprint Medicines by 16.1% during the fourth quarter. William Blair Investment Management LLC now owns 1,944,695 shares of the biotechnology company's stock worth $169,616,000 after acquiring an additional 269,896 shares during the period. Geode Capital Management LLC boosted its position in Blueprint Medicines by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,490,101 shares of the biotechnology company's stock worth $129,996,000 after purchasing an additional 9,914 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in Blueprint Medicines by 1.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,183,682 shares of the biotechnology company's stock valued at $103,241,000 after purchasing an additional 17,175 shares during the period.

Blueprint Medicines Stock Down 0.9 %

BPMC opened at $83.41 on Wednesday. Blueprint Medicines Co. has a 12 month low of $73.04 and a 12 month high of $121.90. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. The business's 50-day moving average price is $87.99 and its 200-day moving average price is $93.17. The company has a market cap of $5.33 billion, a P/E ratio of -77.23 and a beta of 0.75.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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, equities analysts expect that Blueprint Medicines Co. will post -1.28 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BPMC. HC Wainwright reissued a "buy" rating and issued a $135.00 price target on shares of Blueprint Medicines in a report on Friday, February 14th. 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. Piper Sandler raised their price target on shares of Blueprint Medicines from $109.00 to $119.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. JPMorgan Chase & Co. upped their price objective on Blueprint Medicines from $126.00 to $129.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Finally, StockNews.com downgraded Blueprint Medicines from a "hold" rating to a "sell" rating in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Blueprint Medicines presently has a consensus rating of "Moderate Buy" and an average price target of $124.95.

Insider Activity at Blueprint Medicines

In related news, insider Ariel Hurley sold 3,203 shares of Blueprint Medicines stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.62, for a total transaction of $296,661.86. Following the sale, the insider now directly owns 18,270 shares in the company, valued at $1,692,167.40. The trade was a 14.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Christina Rossi sold 2,274 shares of the firm's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $95.02, for a total value of $216,075.48. Following the transaction, the chief operating officer now directly owns 69,266 shares of the company's stock, valued at $6,581,655.32. This represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. 4.21% of the stock is owned by corporate 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.

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