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CAMBRIDGE, MA—Hewes L. Becker, Chief Medical (TASE:BLWV) Officer at Blueprint Medicines Corp (NASDAQ:BPMC), recently sold a significant portion of his holdings in the company. The sale comes as the stock has declined 8.32% over the past week, according to InvestingPro data. According to a recent SEC filing, Becker disposed of shares totaling approximately $890,000 in the $5.6 billion market cap company.
On March 5, Becker sold 4,863 shares at a price of $88.80 per share, amounting to $431,834. This transaction was executed to cover tax obligations related to the vesting of restricted stock units and was not a discretionary trade.
The following day, March 6, Becker sold an additional 5,232 shares in two separate transactions. The first sale included 2,691 shares at a weighted average price of $87.42, while the second involved 2,541 shares at a price of $87.98. These transactions, part of a pre-established trading plan, totaled $458,804.
After these sales, Becker retains ownership of 30,419 shares in Blueprint Medicines. The company has demonstrated impressive revenue growth of 104% over the last twelve months. For deeper insights into Blueprint’s valuation and financial health metrics, including exclusive Fair Value calculations and 8 additional ProTips, visit InvestingPro.
In other recent news, Blueprint Medicines Corporation disclosed its fourth-quarter financials for 2024, which met consensus expectations. The company also provided revenue guidance for Ayvakit for the fiscal year 2025, estimating between $680 million and $710 million. Blueprint Medicines projects a potential to achieve over $4 billion in global peak revenue for systemic mastocytosis (SM). Scotiabank (TSX:BNS) initiated coverage on the company with a Sector Outperform rating and a price target of $150, citing the underappreciated value of its SM franchise. Stifel maintained its Buy rating and set a $155 price target, countering competitor claims about Ayvakit’s safety issues. Citizens JMP reaffirmed a Market Outperform rating with a $125 price target, expressing confidence in Ayvakit’s anticipated sales reaching $700 million in 2025. JMP Securities also maintained a Market Outperform rating, noting the positive impact of extended follow-up data from the PIONEER trial on Ayvakit’s safety perception. These developments highlight the ongoing confidence in Blueprint Medicines’ growth trajectory and its strategic focus on its drug development pipeline.
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