Proficio Capital Partners LLC Makes New Investment in Blueprint Medicines Co. (NASDAQ:BPMC)

Proficio Capital Partners LLC bought a new stake in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,600 shares of the biotechnology company's stock, valued at approximately $1,012,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP lifted its stake in shares of Blueprint Medicines by 22.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company's stock worth $366,726,000 after purchasing an additional 729,055 shares during the period. State Street Corp increased its stake in shares of Blueprint Medicines by 16.2% in the 3rd quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company's stock worth $255,827,000 after purchasing an additional 385,818 shares in the last quarter. Jennison Associates LLC bought a new position in Blueprint Medicines in the 4th quarter worth $31,417,000. Jacobs Levy Equity Management Inc. lifted its position in Blueprint Medicines by 161.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 496,087 shares of the biotechnology company's stock valued at $45,888,000 after purchasing an additional 306,079 shares in the last quarter. Finally, Eventide Asset Management LLC grew its holdings in Blueprint Medicines by 50.5% during the third quarter. Eventide Asset Management LLC now owns 348,704 shares of the biotechnology company's stock valued at $32,255,000 after purchasing an additional 117,019 shares during the period.

Analyst Ratings Changes

A number of equities analysts have weighed in on BPMC shares. JPMorgan Chase & Co. upped their price target on shares of Blueprint Medicines from $126.00 to $129.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Stephens reiterated an "overweight" rating and issued a $140.00 price target on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Wolfe Research began coverage on Blueprint Medicines in a research report on Tuesday, March 18th. They issued an "outperform" rating on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $133.00 price objective on shares of Blueprint Medicines in a research note on Thursday, February 13th. Finally, Jefferies Financial Group began coverage on Blueprint Medicines in a research note on Monday, March 17th. They set a "buy" rating and a $135.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Blueprint Medicines currently has a consensus rating of "Moderate Buy" and a consensus price target of $124.95.

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Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, insider Ariel Hurley sold 2,250 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $100.00, for a total value of $225,000.00. Following the sale, the insider now owns 14,967 shares in the company, valued at $1,496,700. This trade represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeffrey W. Albers sold 5,000 shares of the business's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $102.28, for a total transaction of $511,400.00. Following the sale, the director now directly owns 157,557 shares of the company's stock, valued at $16,114,929.96. This represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,334 shares of company stock worth $3,103,512. Insiders own 4.21% of the company's stock.

Blueprint Medicines Trading Down 2.3 %

BPMC stock traded down $2.19 during midday trading on Tuesday, reaching $93.08. 646,553 shares of the company traded hands, compared to its average volume of 711,464. The firm has a market capitalization of $5.95 billion, a price-to-earnings ratio of -86.18 and a beta of 0.58. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85. The business has a 50 day moving average of $99.31 and a 200-day moving average of $93.92. Blueprint Medicines Co. has a 52-week low of $80.68 and a 52-week 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 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, sell-side analysts expect 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.