State of New Jersey Common Pension Fund D Reduces Stock Position in Blueprint Medicines Co. (NASDAQ:BPMC)

State of New Jersey Common Pension Fund D reduced its holdings in Blueprint Medicines Co. (NASDAQ:BPMC) by 25.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 37,619 shares of the biotechnology company’s stock after selling 13,058 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Blueprint Medicines were worth $3,470,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Compass Wealth Management LLC purchased a new position in shares of Blueprint Medicines in the 4th quarter worth $69,000. PNC Financial Services Group Inc. lifted its holdings in Blueprint Medicines by 63.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock valued at $43,000 after buying an additional 329 shares in the last quarter. Cutler Group LLC CA raised its holdings in shares of Blueprint Medicines by 1,685.7% in the 3rd quarter. Cutler Group LLC CA now owns 1,000 shares of the biotechnology company’s stock valued at $50,000 after purchasing an additional 944 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Blueprint Medicines by 95.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,550 shares of the biotechnology company’s stock valued at $78,000 after purchasing an additional 757 shares in the last quarter. Finally, Headlands Technologies LLC raised its holdings in shares of Blueprint Medicines by 34.4% in the 3rd quarter. Headlands Technologies LLC now owns 1,911 shares of the biotechnology company’s stock valued at $96,000 after purchasing an additional 489 shares in the last quarter.

Blueprint Medicines Stock Performance

Shares of BPMC stock opened at $93.00 on Friday. The company has a 50-day moving average of $90.79 and a two-hundred day moving average of $78.80. The company has a quick ratio of 3.66, a current ratio of 3.76 and a debt-to-equity ratio of 1.60. Blueprint Medicines Co. has a 1-year low of $43.89 and a 1-year high of $101.00.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.82) EPS for the quarter, beating the consensus estimate of ($2.04) by $0.22. Blueprint Medicines had a negative net margin of 203.30% and a negative return on equity of 191.56%. The business had revenue of $71.96 million during the quarter, compared to analyst estimates of $67.34 million. During the same quarter last year, the firm posted ($2.65) earnings per share. The business’s revenue for the quarter was up 85.5% compared to the same quarter last year. Equities analysts anticipate that Blueprint Medicines Co. will post -5.41 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Christopher K. Murray sold 621 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $93.65, for a total value of $58,156.65. Following the sale, the insider now owns 36,374 shares of the company’s stock, valued at $3,406,425.10. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Christopher K. Murray sold 621 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $93.65, for a total value of $58,156.65. Following the sale, the insider now owns 36,374 shares of the company’s stock, valued at $3,406,425.10. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Christopher K. Murray sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $100.00, for a total transaction of $500,000.00. Following the completion of the sale, the insider now directly owns 24,495 shares in the company, valued at approximately $2,449,500. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,289 shares of company stock valued at $8,314,163. 3.88% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Wedbush reissued an “outperform” rating and set a $110.00 target price on shares of Blueprint Medicines in a research report on Friday. Citigroup boosted their target price on shares of Blueprint Medicines from $54.00 to $65.00 and gave the company a “sell” rating in a research note on Friday, February 16th. JMP Securities reiterated a “market outperform” rating and issued a $114.00 target price on shares of Blueprint Medicines in a research note on Wednesday, April 10th. Barclays upped their price objective on shares of Blueprint Medicines from $58.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 13th. Finally, Stifel Nicolaus upped their price objective on shares of Blueprint Medicines from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday. Four research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Blueprint Medicines currently has a consensus rating of “Hold” and a consensus target price of $91.57.

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.