State of New Jersey Common Pension Fund D Has $2.61 Million Position in Blueprint Medicines Co. (NASDAQ:BPMC)

State of New Jersey Common Pension Fund D reduced its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 32.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,202 shares of the biotechnology company’s stock after selling 11,586 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Blueprint Medicines were worth $2,608,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in shares of Blueprint Medicines by 331.9% during the first quarter. Principal Financial Group Inc. now owns 62,670 shares of the biotechnology company’s stock worth $5,945,000 after buying an additional 48,160 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in Blueprint Medicines during the first quarter valued at approximately $474,000. Vanguard Group Inc. boosted its position in Blueprint Medicines by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 6,114,970 shares of the biotechnology company’s stock valued at $564,045,000 after purchasing an additional 147,827 shares during the last quarter. Comerica Bank boosted its position in Blueprint Medicines by 2,582.9% during the first quarter. Comerica Bank now owns 10,839 shares of the biotechnology company’s stock valued at $1,028,000 after purchasing an additional 10,435 shares during the last quarter. Finally, Axiom Investors LLC DE acquired a new position in Blueprint Medicines during the fourth quarter valued at approximately $2,212,000.

Analyst Ratings Changes

BPMC has been the subject of several recent research reports. Baird R W raised Blueprint Medicines to a “strong-buy” rating in a research report on Friday, August 2nd. Barclays increased their price target on Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Needham & Company LLC reissued a “buy” rating and set a $130.00 price target on shares of Blueprint Medicines in a research report on Thursday, August 1st. Robert W. Baird upped their price objective on Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, JMP Securities restated a “market outperform” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a research note on Friday, June 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Blueprint Medicines presently has an average rating of “Moderate Buy” and an average price target of $120.00.

Blueprint Medicines Trading Up 3.3 %

Shares of BPMC stock opened at $89.33 on Thursday. The stock’s fifty day moving average price is $99.35 and its two-hundred day moving average price is $99.08. The company has a market cap of $5.59 billion, a PE ratio of -18.57 and a beta of 0.58. Blueprint Medicines Co. has a fifty-two week low of $43.89 and a fifty-two week high of $121.90. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.65 and a current ratio of 3.71.

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

Insider Activity at Blueprint Medicines

In related news, insider Debra Durso-Bumpus sold 74,034 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $104.19, for a total transaction of $7,713,602.46. Following the completion of the transaction, the insider now directly owns 43,763 shares of the company’s stock, valued at approximately $4,559,666.97. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Debra Durso-Bumpus sold 74,034 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $104.19, for a total transaction of $7,713,602.46. Following the completion of the transaction, the insider now directly owns 43,763 shares of the company’s stock, valued at approximately $4,559,666.97. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Philina Lee sold 41,913 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $93.19, for a total value of $3,905,872.47. Following the transaction, the insider now directly owns 34,729 shares of the company’s stock, valued at $3,236,395.51. The disclosure for this sale can be found here. Insiders have sold a total of 128,947 shares of company stock valued at $13,065,852 in the last 90 days. 4.21% of the stock is owned by corporate insiders.

Blueprint Medicines 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.