Royal Bank of Canada Lowers Stake in Blueprint Medicines Corp (NASDAQ:BPMC)

Royal Bank of Canada reduced its position in Blueprint Medicines Corp (NASDAQ:BPMC) by 29.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,925 shares of the biotechnology company’s stock after selling 8,481 shares during the quarter. Royal Bank of Canada’s holdings in Blueprint Medicines were worth $1,879,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BPMC. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Blueprint Medicines by 62.8% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,097 shares of the biotechnology company’s stock valued at $104,000 after acquiring an additional 423 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in Blueprint Medicines by 2.1% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 24,831 shares of the biotechnology company’s stock valued at $2,342,000 after acquiring an additional 510 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in Blueprint Medicines by 40.4% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,710 shares of the biotechnology company’s stock valued at $256,000 after acquiring an additional 780 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in Blueprint Medicines by 4,594.1% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 798 shares of the biotechnology company’s stock valued at $75,000 after acquiring an additional 781 shares during the period. Finally, Whittier Trust Co. purchased a new stake in Blueprint Medicines during the 2nd quarter valued at about $97,000. Hedge funds and other institutional investors own 99.39% of the company’s stock.

Several brokerages recently weighed in on BPMC. Deutsche Bank cut Blueprint Medicines from a “buy” rating to a “hold” rating and dropped their target price for the company from $110.00 to $75.00 in a report on Monday, October 28th. Piper Jaffray Companies restated a “hold” rating on shares of Blueprint Medicines in a report on Monday, September 9th. BidaskClub upgraded Blueprint Medicines from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 22nd. ValuEngine lowered Blueprint Medicines from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Finally, Cowen reaffirmed a “buy” rating on shares of Blueprint Medicines in a research report on Monday, September 30th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $104.36.

BPMC traded up $0.13 during midday trading on Friday, reaching $73.26. 298,000 shares of the company’s stock traded hands, compared to its average volume of 459,958. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.52 and a quick ratio of 7.52. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of -13.59 and a beta of 1.60. The firm has a fifty day moving average of $73.99 and a two-hundred day moving average of $82.91. Blueprint Medicines Corp has a 52 week low of $44.58 and a 52 week high of $102.98.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings results on Tuesday, November 5th. The biotechnology company reported ($1.93) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.19) by $0.26. The firm had revenue of $9.14 million during the quarter, compared to analyst estimates of $2.85 million. Blueprint Medicines had a negative return on equity of 80.02% and a negative net margin of 2,258.84%. Blueprint Medicines’s quarterly revenue was up 734.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.66) earnings per share. Sell-side analysts forecast that Blueprint Medicines Corp will post -8.22 EPS for the current year.

In related news, insider Ariel Hurley sold 415 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $84.02, for a total value of $34,868.30. Following the completion of the transaction, the insider now owns 415 shares of the company’s stock, valued at $34,868.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey W. Albers sold 20,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $81.73, for a total value of $1,634,600.00. Following the transaction, the chief executive officer now directly owns 48,961 shares in the company, valued at $4,001,582.53. The disclosure for this sale can be found here. Insiders sold 41,340 shares of company stock valued at $3,365,796 in the last three months. 4.02% of the stock is currently owned by insiders.

Blueprint Medicines Company Profile

Blueprint Medicines Corporation 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 completed Phase I clinical trials that targets PDGFRA Exon 18 mutant GIST and KIT-driven GIST; 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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Institutional Ownership by Quarter for Blueprint Medicines (NASDAQ:BPMC)

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