Pitcairn Co. Sells 1,380 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Pitcairn Co. lessened its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 20.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,446 shares of the biotechnology company’s stock after selling 1,380 shares during the quarter. Pitcairn Co.’s holdings in Blueprint Medicines were worth $559,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BPMC. Teacher Retirement System of Texas grew its stake in shares of Blueprint Medicines by 29.7% during the third quarter. Teacher Retirement System of Texas now owns 8,874 shares of the biotechnology company’s stock valued at $912,000 after buying an additional 2,030 shares during the last quarter. CIBC Asset Management Inc bought a new position in shares of Blueprint Medicines during the third quarter valued at about $243,000. Barclays PLC grew its stake in shares of Blueprint Medicines by 307.9% during the third quarter. Barclays PLC now owns 44,079 shares of the biotechnology company’s stock valued at $4,531,000 after buying an additional 33,272 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Blueprint Medicines by 3.3% during the third quarter. Principal Financial Group Inc. now owns 23,516 shares of the biotechnology company’s stock valued at $2,417,000 after buying an additional 748 shares during the last quarter. Finally, TD Asset Management Inc. grew its stake in shares of Blueprint Medicines by 8.2% during the third quarter. TD Asset Management Inc. now owns 82,738 shares of the biotechnology company’s stock valued at $8,506,000 after buying an additional 6,300 shares during the last quarter.

In other news, insider L. Becker Hewes sold 729 shares of the stock in a transaction dated Monday, November 15th. The shares were sold at an average price of $115.49, for a total transaction of $84,192.21. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey W. Albers sold 30,000 shares of the stock in a transaction dated Monday, November 15th. The stock was sold at an average price of $114.50, for a total transaction of $3,435,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,458 shares of company stock worth $4,729,692. 3.34% of the stock is owned by corporate insiders.

Shares of BPMC stock opened at $78.00 on Friday. Blueprint Medicines Co. has a fifty-two week low of $74.75 and a fifty-two week high of $117.86. The company has a 50 day moving average price of $102.37 and a 200 day moving average price of $97.28.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Wednesday, October 27th. The biotechnology company reported ($2.00) EPS for the quarter, missing the consensus estimate of ($1.63) by ($0.37). The business had revenue of $24.19 million during the quarter, compared to analysts’ expectations of $42.58 million. Blueprint Medicines had a negative net margin of 383.58% and a negative return on equity of 30.19%. The firm’s revenue for the quarter was down 96.8% compared to the same quarter last year. During the same quarter last year, the company earned $11.16 EPS. As a group, research analysts predict that Blueprint Medicines Co. will post -6.74 EPS for the current year.

Several analysts have commented on BPMC shares. SVB Leerink lowered their price objective on shares of Blueprint Medicines from $132.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday. Morgan Stanley lifted their target price on shares of Blueprint Medicines from $96.00 to $111.00 and gave the stock an “equal weight” rating in a research report on Friday, October 29th. HC Wainwright reissued a “buy” rating and set a $134.00 price objective on shares of Blueprint Medicines in a research report on Tuesday, November 30th. TheStreet downgraded shares of Blueprint Medicines from a “c” rating to a “d” rating in a research report on Friday, November 5th. Finally, Guggenheim lifted their target price on shares of Blueprint Medicines from $120.00 to $122.00 in a research note on Monday, January 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $118.09.

Blueprint Medicines Company Profile

Blueprint Medicines Corp. is a precision therapy company. It focuses on medicines to improve the lives of patients with genomically defined cancers, rare diseases and cancer immunotherapy. The company was founded by Chris Varma, Nicholas B. Lydon, Brian Druker, and Alexis Borisy on October 14, 2008 and is headquartered in Cambridge, MA.

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Institutional Ownership by Quarter for Blueprint Medicines (NASDAQ:BPMC)

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