Eagle Asset Management Inc. Cuts Stake in Blueprint Medicines Corp (BPMC)

Eagle Asset Management Inc. decreased its holdings in Blueprint Medicines Corp (NASDAQ:BPMC) by 2.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 761,269 shares of the biotechnology company’s stock after selling 17,414 shares during the period. Eagle Asset Management Inc.’s holdings in Blueprint Medicines were worth $41,040,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in BPMC. Russell Investments Group Ltd. boosted its stake in shares of Blueprint Medicines by 26.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 26,253 shares of the biotechnology company’s stock valued at $2,049,000 after purchasing an additional 5,520 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its stake in shares of Blueprint Medicines by 56.7% in the 3rd quarter. Public Employees Retirement Association of Colorado now owns 4,718 shares of the biotechnology company’s stock valued at $368,000 after purchasing an additional 1,708 shares in the last quarter. Victory Capital Management Inc. boosted its position in Blueprint Medicines by 3.4% during the 3rd quarter. Victory Capital Management Inc. now owns 454,562 shares of the biotechnology company’s stock valued at $35,482,000 after buying an additional 15,080 shares during the period. Comerica Bank purchased a new stake in Blueprint Medicines during the 3rd quarter valued at $729,000. Finally, Wells Fargo & Company MN boosted its position in Blueprint Medicines by 65.1% during the 3rd quarter. Wells Fargo & Company MN now owns 32,718 shares of the biotechnology company’s stock valued at $2,554,000 after buying an additional 12,903 shares during the period. 99.99% of the stock is owned by institutional investors.

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BPMC has been the subject of several analyst reports. Zacks Investment Research cut shares of Blueprint Medicines from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd. BidaskClub cut shares of Blueprint Medicines from a “hold” rating to a “sell” rating in a research report on Tuesday, November 13th. Cowen reissued a “buy” rating on shares of Blueprint Medicines in a research report on Thursday, November 15th. ValuEngine cut shares of Blueprint Medicines from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 2nd. Finally, Wedbush reissued an “outperform” rating and set a $103.00 price target on shares of Blueprint Medicines in a research report on Monday, January 7th. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $103.25.

Shares of BPMC opened at $82.19 on Friday. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of -20.97 and a beta of 1.61. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.05 and a quick ratio of 10.05. Blueprint Medicines Corp has a twelve month low of $44.58 and a twelve month high of $109.00.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings results on Tuesday, February 26th. The biotechnology company reported ($1.83) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.76) by ($0.07). The firm had revenue of $1.03 million for the quarter, compared to analysts’ expectations of $1.77 million. Blueprint Medicines had a negative net margin of 455.15% and a negative return on equity of 36.72%. The company’s quarterly revenue was down 36.7% on a year-over-year basis. During the same period in the previous year, the company earned ($1.23) EPS. As a group, equities research analysts forecast that Blueprint Medicines Corp will post -5.35 EPS for the current fiscal year.

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About Blueprint Medicines

Blueprint Medicines Corporation, a biopharmaceutical company, develops drugs of small molecule kinase inhibitors that target genomic drivers in various cancers and a rare genetic disease. Its lead drug candidates include avapritinib, which is in Phase I clinical trials that targets KIT Exon 17 mutant proteins and PDGFRa D842V mutations, that are drivers of cancer and proliferative disorders, including gastrointestinal stromal tumors and systemic mastocytosis; and BLU-554, which is in Phase I clinical trials an orally available, potent, and irreversible inhibitor of the kinase FGFR4 that is activated in a defined subset of patients with hepatocellular carcinoma.

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