Insider Selling: Blueprint Medicines Corp (BPMC) Major Shareholder Sells 30,000 Shares of Stock
Blueprint Medicines Corp (NASDAQ:BPMC) major shareholder Mark J. Levin sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $40.88, for a total transaction of $1,226,400.00. Following the completion of the transaction, the insider now directly owns 116,444 shares of the company’s stock, valued at approximately $4,760,230.72. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Blueprint Medicines Corp (NASDAQ:BPMC) traded up 0.12% during midday trading on Monday, hitting $41.41. 283,990 shares of the stock were exchanged. The company’s market capitalization is $1.37 billion. Blueprint Medicines Corp has a 1-year low of $13.27 and a 1-year high of $42.42. The firm has a 50-day moving average of $36.01 and a 200-day moving average of $31.51.
Blueprint Medicines Corp (NASDAQ:BPMC) last posted its quarterly earnings data on Thursday, March 9th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.01. The company had revenue of $7.69 million for the quarter, compared to the consensus estimate of $6.31 million. Blueprint Medicines Corp had a negative net margin of 270.30% and a negative return on equity of 55.22%. The firm’s revenue was up 65.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.58) earnings per share. On average, equities analysts expect that Blueprint Medicines Corp will post ($3.49) EPS for the current year.
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Several institutional investors have recently bought and sold shares of the company. Pacad Investment Ltd. purchased a new stake in Blueprint Medicines Corp during the fourth quarter worth approximately $104,000. Dumont & Blake Investment Advisors LLC purchased a new stake in Blueprint Medicines Corp during the third quarter worth approximately $267,000. AQR Capital Management LLC purchased a new stake in Blueprint Medicines Corp during the fourth quarter worth approximately $289,000. Russell Investments Group Ltd. purchased a new stake in Blueprint Medicines Corp during the fourth quarter worth approximately $305,000. Finally, UBS Asset Management Americas Inc. boosted its stake in Blueprint Medicines Corp by 9.1% in the third quarter. UBS Asset Management Americas Inc. now owns 11,015 shares of the company’s stock worth $327,000 after buying an additional 915 shares during the last quarter. 59.51% of the stock is currently owned by institutional investors.
A number of equities analysts have commented on BPMC shares. Wedbush reissued an “outperform” rating and issued a $41.00 price target (down previously from $43.00) on shares of Blueprint Medicines Corp in a research note on Tuesday, November 29th. Goldman Sachs Group Inc raised shares of Blueprint Medicines Corp from a “neutral” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Monday, March 13th. Cowen and Company reissued a “buy” rating and issued a $33.19 price target (down previously from $38.33) on shares of Blueprint Medicines Corp in a research note on Monday, December 5th. Morgan Stanley initiated coverage on shares of Blueprint Medicines Corp in a research note on Wednesday, February 15th. They issued an “overweight” rating and a $45.00 price target for the company. Finally, Zacks Investment Research cut shares of Blueprint Medicines Corp from a “buy” rating to a “hold” rating in a research note on Tuesday, February 7th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Blueprint Medicines Corp presently has a consensus rating of “Buy” and a consensus price target of $39.40.
About Blueprint Medicines Corp
Blueprint Medicines Corporation is a biopharmaceutical company. The Company focuses on patients with genomically defined diseases driven by abnormal kinase activation. The Company focuses on crafting drug candidates with therapeutic windows that provide clinical responses to patients without adequate treatment options.
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