Cibc World Markets Corp Buys Shares of 5,950 Blueprint Medicines Co. (NASDAQ:BPMC)

Cibc World Markets Corp purchased a new position in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 5,950 shares of the biotechnology company's stock, valued at approximately $519,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Swiss National Bank raised its position in shares of Blueprint Medicines by 7.2% in the 4th quarter. Swiss National Bank now owns 124,600 shares of the biotechnology company's stock valued at $10,868,000 after purchasing an additional 8,400 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Blueprint Medicines by 2,680.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 142,717 shares of the biotechnology company's stock valued at $12,448,000 after acquiring an additional 137,585 shares during the last quarter. Wealthfront Advisers LLC acquired a new position in Blueprint Medicines during the 4th quarter worth $10,102,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Blueprint Medicines by 17.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,936 shares of the biotechnology company's stock worth $1,390,000 after purchasing an additional 2,323 shares during the last quarter. Finally, Essex Investment Management Co. LLC raised its stake in shares of Blueprint Medicines by 29.0% in the 4th quarter. Essex Investment Management Co. LLC now owns 45,736 shares of the biotechnology company's stock valued at $3,989,000 after purchasing an additional 10,275 shares in the last quarter.

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Blueprint Medicines Price Performance

Shares of NASDAQ BPMC traded down $2.36 during mid-day trading on Wednesday, reaching $90.72. The company had a trading volume of 606,651 shares, compared to its average volume of 712,138. The company has a 50-day moving average price of $99.12 and a two-hundred day moving average price of $93.97. The stock has a market cap of $5.80 billion, a PE ratio of -84.00 and a beta of 0.58. 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 Co. has a 1-year low of $80.68 and a 1-year high of $121.90.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($0.79) 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%. On average, equities analysts anticipate that Blueprint Medicines Co. will post -1.28 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Ariel Hurley sold 2,250 shares of Blueprint Medicines stock in a transaction on Monday, January 13th. The stock was sold at an average price of $100.00, for a total transaction of $225,000.00. Following the transaction, the insider now owns 14,967 shares in the company, valued at approximately $1,496,700. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kate Haviland sold 1,446 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total value of $159,407.04. Following the completion of the sale, the chief executive officer now directly owns 149,378 shares of the company's stock, valued at approximately $16,467,430.72. This represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,608 shares of company stock worth $3,319,587. Corporate insiders own 4.21% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BPMC. JPMorgan Chase & Co. lifted their target price on Blueprint Medicines from $126.00 to $129.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. StockNews.com downgraded shares of Blueprint Medicines from a "hold" rating to a "sell" rating in a research report on Monday, March 3rd. Stephens restated an "overweight" rating and issued a $140.00 target price on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Needham & Company LLC reissued a "buy" rating and issued a $133.00 price target on shares of Blueprint Medicines in a report on Thursday, February 13th. Finally, Morgan Stanley assumed coverage on Blueprint Medicines in a research report on Thursday, March 20th. They issued an "equal weight" rating and a $100.00 target price on the stock. Two 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 data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $124.95.

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.