Emerald Advisers LLC Trims Stake in Blueprint Medicines Co. (NASDAQ:BPMC)

Emerald Advisers LLC decreased its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 15.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 341,200 shares of the biotechnology company’s stock after selling 61,710 shares during the quarter. Blueprint Medicines accounts for 1.5% of Emerald Advisers LLC’s portfolio, making the stock its 10th largest position. Emerald Advisers LLC owned about 0.54% of Blueprint Medicines worth $36,775,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Van ECK Associates Corp lifted its holdings in shares of Blueprint Medicines by 13.3% in the 2nd quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock worth $120,000 after acquiring an additional 131 shares during the last quarter. EFG Asset Management North America Corp. lifted its stake in Blueprint Medicines by 0.5% in the second quarter. EFG Asset Management North America Corp. now owns 27,884 shares of the biotechnology company’s stock worth $3,008,000 after purchasing an additional 132 shares during the last quarter. US Bancorp DE boosted its position in Blueprint Medicines by 5.2% during the first quarter. US Bancorp DE now owns 3,724 shares of the biotechnology company’s stock valued at $353,000 after buying an additional 183 shares during the period. Principal Financial Group Inc. grew its stake in shares of Blueprint Medicines by 1.7% during the fourth quarter. Principal Financial Group Inc. now owns 14,510 shares of the biotechnology company’s stock valued at $1,338,000 after buying an additional 247 shares during the last quarter. Finally, Triad Wealth Partners LLC purchased a new position in shares of Blueprint Medicines in the second quarter worth about $27,000.

Blueprint Medicines Price Performance

BPMC opened at $86.43 on Friday. Blueprint Medicines Co. has a 12-month low of $43.89 and a 12-month high of $121.90. The company has a market cap of $5.41 billion, a price-to-earnings ratio of -17.97 and a beta of 0.58. The company has a current ratio of 3.71, a quick ratio of 3.65 and a debt-to-equity ratio of 1.06. The stock has a fifty day simple moving average of $102.87 and a two-hundred day simple moving average of $99.35.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.29) by $0.49. Blueprint Medicines had a negative net margin of 56.64% and a negative return on equity of 157.30%. The company had revenue of $138.20 million during the quarter, compared to analyst estimates of $104.02 million. During the same period last year, the business earned ($2.19) EPS. Blueprint Medicines’s quarterly revenue was up 139.9% compared to the same quarter last year. Research analysts predict that Blueprint Medicines Co. will post -3.99 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Debra Durso-Bumpus sold 8,817 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $111.29, for a total value of $981,243.93. Following the sale, the insider now owns 43,763 shares in the company, valued at approximately $4,870,384.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Blueprint Medicines news, insider Philina Lee sold 41,913 shares of Blueprint Medicines stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $93.19, for a total value of $3,905,872.47. Following the completion of the transaction, the insider now directly owns 34,729 shares of the company’s stock, valued at $3,236,395.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Debra Durso-Bumpus sold 8,817 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $111.29, for a total transaction of $981,243.93. Following the sale, the insider now owns 43,763 shares in the company, valued at approximately $4,870,384.27. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 128,947 shares of company stock worth $13,065,852. Insiders own 4.21% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Baird R W upgraded Blueprint Medicines to a “strong-buy” rating in a report on Friday, August 2nd. JMP Securities reissued a “market outperform” rating and set a $125.00 price objective on shares of Blueprint Medicines in a research note on Friday, June 7th. Oppenheimer lifted their target price on shares of Blueprint Medicines from $114.00 to $125.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Robert W. Baird increased their price target on shares of Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Morgan Stanley raised their price target on shares of Blueprint Medicines from $110.00 to $115.00 and gave the stock an “equal weight” rating in a report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $120.00.

About Blueprint Medicines

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.