Essex Investment Management Co. LLC Acquires 10,275 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Essex Investment Management Co. LLC increased its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 29.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,736 shares of the biotechnology company's stock after purchasing an additional 10,275 shares during the period. Essex Investment Management Co. LLC owned approximately 0.07% of Blueprint Medicines worth $3,989,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its position in shares of Blueprint Medicines by 31.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,650 shares of the biotechnology company's stock worth $144,000 after buying an additional 399 shares during the period. Raymond James Financial Inc. bought a new position in Blueprint Medicines during the fourth quarter worth $21,104,000. Dana Investment Advisors Inc. grew its holdings in Blueprint Medicines by 6.2% in the fourth quarter. Dana Investment Advisors Inc. now owns 39,074 shares of the biotechnology company's stock worth $3,408,000 after purchasing an additional 2,282 shares during the period. Arizona State Retirement System increased its stake in Blueprint Medicines by 7.2% in the fourth quarter. Arizona State Retirement System now owns 18,353 shares of the biotechnology company's stock valued at $1,601,000 after purchasing an additional 1,225 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new position in shares of Blueprint Medicines during the fourth quarter valued at about $391,000.

Insiders Place Their Bets

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 15,000 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $89.77, for a total transaction of $1,346,550.00. Following the completion of the transaction, the director now directly owns 157,557 shares of the company's stock, valued at approximately $14,143,891.89. This represents a 8.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kate Haviland sold 1,446 shares of the business's stock in a transaction on Tuesday, January 21st. The shares were 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 owns 149,378 shares in the company, valued at approximately $16,467,430.72. The trade was a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,608 shares of company stock valued at $4,668,161. Company insiders own 4.21% of the company's stock.

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Analyst Upgrades and Downgrades

BPMC has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $133.00 target price on shares of Blueprint Medicines in a research report on Thursday, February 13th. StockNews.com downgraded Blueprint Medicines from a "hold" rating to a "sell" rating in a report on Monday, March 3rd. HC Wainwright reiterated a "buy" rating and issued a $135.00 target price on shares of Blueprint Medicines in a report on Friday, February 14th. Guggenheim reissued a "buy" rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. Finally, Wedbush restated an "outperform" rating and set a $128.00 price objective on shares of Blueprint Medicines in a report on Friday, February 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Blueprint Medicines currently has an average rating of "Moderate Buy" and a consensus price target of $125.21.

Blueprint Medicines Stock Performance

Shares of BPMC traded down $0.66 on Thursday, reaching $89.84. 1,807,067 shares of the company's stock traded hands, compared to its average volume of 1,020,904. The stock's 50 day simple moving average is $99.46 and its two-hundred day simple moving average is $94.09. 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 52-week low of $80.68 and a 52-week high of $121.90. The stock has a market cap of $5.74 billion, a PE ratio of -83.18 and a beta of 0.58.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced 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 net margin of 13.19% and a negative return on equity of 77.49%. On average, analysts forecast that Blueprint Medicines Co. will post -1.28 earnings per share for the current fiscal year.

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.