Nomura Asset Management Co. Ltd. Trims Stock Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Nomura Asset Management Co. Ltd. cut its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 21.5% in the fourth quarter, HoldingsChannel reports. The firm owned 17,713 shares of the biotechnology company’s stock after selling 4,844 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Blueprint Medicines were worth $1,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in BPMC. Quarry LP acquired a new position in shares of Blueprint Medicines in the 3rd quarter valued at about $32,000. R Squared Ltd purchased a new position in Blueprint Medicines during the fourth quarter valued at approximately $51,000. Asset Management One Co. Ltd. purchased a new position in Blueprint Medicines during the fourth quarter valued at approximately $88,000. Van ECK Associates Corp lifted its holdings in Blueprint Medicines by 48.2% in the fourth quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $97,000 after acquiring an additional 363 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in Blueprint Medicines in the 3rd quarter worth approximately $108,000.

Wall Street Analysts Forecast Growth

BPMC has been the subject of several recent research reports. Scotiabank began coverage on shares of Blueprint Medicines in a report on Friday, March 7th. They set a “sector outperform” rating and a $150.00 target price for the company. JMP Securities reaffirmed a “market outperform” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a report on Friday, February 14th. StockNews.com lowered shares of Blueprint Medicines from a “hold” rating to a “sell” rating in a research note on Monday, March 3rd. Guggenheim restated a “buy” rating on shares of Blueprint Medicines in a research note on Wednesday, December 11th. Finally, Wolfe Research started coverage on Blueprint Medicines in a research report on Tuesday, March 18th. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $124.95.

Insider Buying and Selling at Blueprint Medicines

In other news, Director Jeffrey W. Albers sold 5,000 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $102.28, for a total transaction of $511,400.00. Following the transaction, the director now owns 157,557 shares of the company’s stock, valued at approximately $16,114,929.96. The trade was a 3.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ariel Hurley sold 2,250 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $100.00, for a total transaction of $225,000.00. Following the sale, the insider now owns 14,967 shares of the company’s stock, valued at approximately $1,496,700. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,608 shares of company stock worth $3,319,587 in the last three months. 4.21% of the stock is owned by corporate insiders.

Blueprint Medicines Stock Performance

NASDAQ:BPMC opened at $90.01 on Thursday. Blueprint Medicines Co. has a twelve month low of $80.68 and a twelve month high of $121.90. The company has a market cap of $5.75 billion, a P/E ratio of -83.34 and a beta of 0.75. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. The company’s 50-day moving average price is $96.75 and its 200-day moving average price is $94.02.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. On average, sell-side analysts forecast that Blueprint Medicines Co. will post -1.28 earnings per share 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.