State of New Jersey Common Pension Fund D Sells 13,058 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

State of New Jersey Common Pension Fund D cut its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 25.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,619 shares of the biotechnology company’s stock after selling 13,058 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.06% of Blueprint Medicines worth $3,470,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Blueprint Medicines by 0.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,414 shares of the biotechnology company’s stock valued at $3,451,000 after purchasing an additional 145 shares during the period. Diversified Trust Co boosted its stake in Blueprint Medicines by 2.9% in the 3rd quarter. Diversified Trust Co now owns 11,219 shares of the biotechnology company’s stock valued at $563,000 after purchasing an additional 318 shares during the period. PNC Financial Services Group Inc. boosted its stake in Blueprint Medicines by 63.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock valued at $43,000 after purchasing an additional 329 shares during the period. Los Angeles Capital Management LLC boosted its stake in Blueprint Medicines by 2.5% in the 3rd quarter. Los Angeles Capital Management LLC now owns 14,493 shares of the biotechnology company’s stock valued at $728,000 after purchasing an additional 355 shares during the period. Finally, Arizona State Retirement System boosted its stake in Blueprint Medicines by 2.2% in the 3rd quarter. Arizona State Retirement System now owns 17,217 shares of the biotechnology company’s stock valued at $865,000 after purchasing an additional 369 shares during the period.

Insiders Place Their Bets

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 25,073 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $87.28, for a total value of $2,188,371.44. Following the completion of the transaction, the director now owns 176,050 shares of the company’s stock, valued at approximately $15,365,644. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Blueprint Medicines news, CFO Michael Landsittel sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $95.00, for a total value of $475,000.00. Following the sale, the chief financial officer now owns 47,286 shares in the company, valued at approximately $4,492,170. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey W. Albers sold 25,073 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $87.28, for a total value of $2,188,371.44. Following the completion of the sale, the director now owns 176,050 shares in the company, valued at approximately $15,365,644. The disclosure for this sale can be found here. Insiders sold a total of 92,289 shares of company stock valued at $8,314,163 in the last 90 days. Corporate insiders own 3.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Barclays lifted their price objective on Blueprint Medicines from $58.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, February 13th. Wedbush reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of Blueprint Medicines in a report on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $97.00 price objective on shares of Blueprint Medicines in a report on Friday. Stifel Nicolaus lifted their price objective on Blueprint Medicines from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $114.00 price objective on shares of Blueprint Medicines in a report on Wednesday, April 10th. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Blueprint Medicines currently has an average rating of “Hold” and an average target price of $91.57.

Blueprint Medicines Trading Up 2.5 %

Blueprint Medicines stock opened at $93.00 on Friday. Blueprint Medicines Co. has a 52 week low of $43.89 and a 52 week high of $101.00. The stock has a fifty day moving average of $90.79 and a 200-day moving average of $78.80. The company has a debt-to-equity ratio of 1.60, a current ratio of 3.76 and a quick ratio of 3.66.

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

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.