Fisher Asset Management LLC cut its position in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 3.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 323,040 shares of the biotechnology company's stock after selling 12,310 shares during the quarter. Fisher Asset Management LLC owned 0.51% of Blueprint Medicines worth $28,176,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of BPMC. Quarry LP acquired a new position in Blueprint Medicines in the third quarter valued at approximately $32,000. R Squared Ltd acquired a new stake in Blueprint Medicines in the 4th quarter valued at $51,000. Covestor Ltd grew its position in Blueprint Medicines by 206.7% in the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company's stock valued at $55,000 after purchasing an additional 403 shares during the period. Asset Management One Co. Ltd. acquired a new stake in Blueprint Medicines in the 4th quarter valued at $88,000. Finally, Van ECK Associates Corp grew its position in Blueprint Medicines by 48.2% in the 4th quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company's stock valued at $97,000 after purchasing an additional 363 shares during the period.
Analysts Set New Price Targets
Several analysts recently issued reports on BPMC shares. Needham & Company LLC reissued a "buy" rating and issued a $133.00 price target on shares of Blueprint Medicines in a research report on Thursday, February 13th. JMP Securities reissued a "market outperform" rating and issued a $125.00 price target on shares of Blueprint Medicines in a research report on Friday, February 14th. Wedbush reaffirmed an "outperform" rating and set a $128.00 price objective on shares of Blueprint Medicines in a report on Friday, February 28th. StockNews.com downgraded shares of Blueprint Medicines from a "hold" rating to a "sell" rating in a report on Monday. Finally, Guggenheim reaffirmed a "buy" rating on shares of Blueprint Medicines in a report on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $123.83.
View Our Latest Research Report on BPMC
Insiders Place Their Bets
In other Blueprint Medicines news, Director Jeffrey W. Albers sold 15,000 shares of Blueprint Medicines stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $89.77, for a total value of $1,346,550.00. Following the sale, the director now owns 157,557 shares of the company's stock, valued at $14,143,891.89. The trade was a 8.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Ariel Hurley sold 1,819 shares of Blueprint Medicines stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $93.26, for a total value of $169,639.94. Following the completion of the sale, the insider now directly owns 14,967 shares in the company, valued at approximately $1,395,822.42. The trade was a 10.84 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,427 shares of company stock valued at $4,837,801. Insiders own 4.21% of the company's stock.
Blueprint Medicines Price Performance
Shares of BPMC traded down $2.57 during midday trading on Thursday, hitting $87.35. 198,853 shares of the company traded hands, compared to its average volume of 1,015,216. The stock has a 50-day moving average of $99.50 and a 200-day moving average of $94.34. Blueprint Medicines Co. has a one year low of $80.68 and a one year high of $121.90. The firm has a market cap of $5.58 billion, a P/E ratio of -80.86 and a beta of 0.62. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80.
Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its earnings results 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%. As a group, sell-side analysts predict that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.
About Blueprint Medicines
(
Free Report)
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.
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