Envestnet Asset Management Inc. Increases Stake in Blueprint Medicines Co. (NASDAQ:BPMC)

Envestnet Asset Management Inc. lifted its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 13.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,115 shares of the biotechnology company's stock after purchasing an additional 3,723 shares during the period. Envestnet Asset Management Inc. owned about 0.05% of Blueprint Medicines worth $2,801,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BPMC. R Squared Ltd purchased a new position in Blueprint Medicines during the fourth quarter worth about $51,000. Headlands Technologies LLC purchased a new position in Blueprint Medicines during the fourth quarter worth about $65,000. Asset Management One Co. Ltd. purchased a new position in Blueprint Medicines during the fourth quarter worth about $88,000. Van ECK Associates Corp lifted its position in Blueprint Medicines by 48.2% during the fourth quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company's stock worth $97,000 after buying an additional 363 shares during the period. Finally, Venturi Wealth Management LLC purchased a new position in Blueprint Medicines during the fourth quarter worth about $131,000.

Insider Buying and Selling at Blueprint Medicines

In other news, COO Christina Rossi sold 2,274 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $95.02, for a total value of $216,075.48. Following the transaction, the chief operating officer now directly owns 69,266 shares in the company, valued at $6,581,655.32. This trade represents a 3.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Ariel Hurley sold 3,203 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.62, for a total value 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. Corporate insiders own 4.21% of the company's stock.

Blueprint Medicines Stock Performance

Shares of BPMC stock traded up $0.85 during trading on Monday, reaching $88.51. 786,733 shares of the company's stock traded hands, compared to its average volume of 770,079. The company has a market capitalization of $5.66 billion, a P/E ratio of -81.95 and a beta of 0.75. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. The firm's 50-day moving average is $87.46 and its 200 day moving average is $93.18. Blueprint Medicines Co. has a 1 year low of $73.04 and a 1 year high of $121.90.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) 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%. Equities research analysts expect that Blueprint Medicines Co. will post -1.28 EPS for the current year.

Wall Street Analyst Weigh In

BPMC has been the subject of a number of recent research reports. Stephens reiterated an "overweight" rating and issued a $140.00 target price on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Wedbush reiterated an "outperform" rating and issued a $128.00 price target on shares of Blueprint Medicines in a report on Wednesday, April 16th. Scotiabank began coverage on Blueprint Medicines in a research report on Friday, March 7th. They set a "sector outperform" rating and a $150.00 price objective for the company. HC Wainwright reiterated a "buy" rating and issued a $135.00 target price on shares of Blueprint Medicines in a research report on Friday, February 14th. Finally, Piper Sandler increased their target price on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a "neutral" rating in a research report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $124.53.

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.