Guggenheim Capital LLC Cuts Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Guggenheim Capital LLC lowered its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 22.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,139 shares of the biotechnology company’s stock after selling 3,725 shares during the quarter. Guggenheim Capital LLC’s holdings in Blueprint Medicines were worth $1,146,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BPMC. Vanguard Group Inc. lifted its position in shares of Blueprint Medicines by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 6,774,884 shares of the biotechnology company’s stock valued at $590,905,000 after buying an additional 91,450 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Blueprint Medicines by 8.0% in the fourth quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company’s stock valued at $373,421,000 after purchasing an additional 316,754 shares during the period. William Blair Investment Management LLC increased its stake in shares of Blueprint Medicines by 16.1% during the fourth quarter. William Blair Investment Management LLC now owns 1,944,695 shares of the biotechnology company’s stock worth $169,616,000 after purchasing an additional 269,896 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Blueprint Medicines by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,490,101 shares of the biotechnology company’s stock worth $129,996,000 after purchasing an additional 9,914 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its stake in Blueprint Medicines by 1.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,183,682 shares of the biotechnology company’s stock valued at $103,241,000 after buying an additional 17,175 shares in the last quarter.

Blueprint Medicines Stock Down 0.9 %

Shares of NASDAQ:BPMC opened at $83.41 on Wednesday. The company has a market capitalization of $5.33 billion, a price-to-earnings ratio of -77.23 and a beta of 0.75. Blueprint Medicines Co. has a 12-month low of $73.04 and a 12-month high of $121.90. The business has a 50-day moving average price of $87.99 and a 200 day moving average price of $93.17. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.11). Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. Sell-side analysts expect that Blueprint Medicines Co. will post -1.28 EPS for the current year.

Insiders Place Their Bets

In related news, COO Christina Rossi sold 2,274 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $95.02, for a total transaction of $216,075.48. Following the transaction, the chief operating officer now owns 69,266 shares of the company’s stock, valued at approximately $6,581,655.32. This represents a 3.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ariel Hurley sold 3,203 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.62, for a total value of $296,661.86. Following the transaction, the insider now owns 18,270 shares of the company’s stock, valued at $1,692,167.40. This trade represents a 14.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.21% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Piper Sandler boosted their price objective on Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Wedbush reissued an “outperform” rating and issued a $128.00 price objective on shares of Blueprint Medicines in a research note on Wednesday, April 16th. Stephens reaffirmed an “overweight” rating and set a $140.00 target price on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $133.00 target price on shares of Blueprint Medicines in a research report on Tuesday, April 8th. Finally, StockNews.com downgraded shares of Blueprint Medicines from a “hold” rating to a “sell” rating in a research note on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Blueprint Medicines has an average rating of “Moderate Buy” and an average target price of $124.95.

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.