Cerity Partners LLC Takes $291,000 Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Cerity Partners LLC purchased a new stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,298 shares of the biotechnology company's stock, valued at approximately $291,000.

Other hedge funds also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC purchased a new position in shares of Blueprint Medicines during the third quarter worth approximately $202,000. Synovus Financial Corp boosted its stake in shares of Blueprint Medicines by 4.0% during the 3rd quarter. Synovus Financial Corp now owns 24,047 shares of the biotechnology company's stock worth $2,224,000 after acquiring an additional 922 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Blueprint Medicines by 0.7% during the 3rd quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company's stock worth $3,259,000 after buying an additional 265 shares during the last quarter. Exome Asset Management LLC acquired a new stake in shares of Blueprint Medicines in the third quarter valued at approximately $3,395,000. Finally, Empirical Asset Management LLC acquired a new position in Blueprint Medicines in the 4th quarter valued at about $2,348,000.

Blueprint Medicines Stock Performance

Shares of NASDAQ BPMC traded up $1.57 during mid-day trading on Friday, reaching $87.66. 679,412 shares of the company were exchanged, compared to its average volume of 770,012. The stock has a market capitalization of $5.60 billion, a P/E ratio of -81.17 and a beta of 0.75. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15. Blueprint Medicines Co. has a twelve month low of $73.04 and a twelve month high of $121.90. The company's 50-day simple moving average is $87.57 and its 200-day simple moving average is $93.14.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its quarterly earnings data 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%. As a group, research analysts predict that Blueprint Medicines Co. will post -1.28 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Christina Rossi sold 2,274 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $95.02, for a total value of $216,075.48. Following the sale, the chief operating officer now directly owns 69,266 shares of the company's stock, valued at approximately $6,581,655.32. This represents a 3.18 % 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, insider Ariel Hurley sold 3,203 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.62, for a total transaction of $296,661.86. Following the completion of the transaction, the insider now owns 18,270 shares in the company, valued at approximately $1,692,167.40. This trade represents a 14.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.21% of the stock is owned by insiders.

Analysts Set New Price Targets

BPMC has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Blueprint Medicines from a "hold" rating to a "sell" rating in a research report on Monday, March 3rd. JMP Securities reissued a "market outperform" rating and issued a $125.00 target price on shares of Blueprint Medicines in a research report on Friday, February 14th. Morgan Stanley assumed coverage on shares of Blueprint Medicines in a report on Thursday, March 20th. They issued an "equal weight" rating and a $100.00 price objective for the company. Jefferies Financial Group initiated coverage on Blueprint Medicines in a research report on Monday, March 17th. They issued a "buy" rating and a $135.00 target price on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and set a $135.00 price target on shares of Blueprint Medicines in a report on Friday, February 14th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $124.68.

Blueprint Medicines 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.