Proficio Capital Partners LLC Buys Shares of 11,600 Blueprint Medicines Co. (NASDAQ:BPMC)

Proficio Capital Partners LLC purchased a new stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 11,600 shares of the biotechnology company's stock, valued at approximately $1,012,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of Blueprint Medicines by 22.5% during the third quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company's stock valued at $366,726,000 after buying an additional 729,055 shares during the last quarter. State Street Corp increased its stake in Blueprint Medicines by 16.2% in the third 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 during the period. Jennison Associates LLC bought a new stake in shares of Blueprint Medicines during the fourth quarter worth $31,417,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of 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 during the period. Finally, Eventide Asset Management LLC grew its holdings in shares of Blueprint Medicines by 50.5% in the third quarter. Eventide Asset Management LLC now owns 348,704 shares of the biotechnology company's stock worth $32,255,000 after purchasing an additional 117,019 shares during the last quarter.

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Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Piper Sandler lifted their price objective on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a "neutral" rating in a report on Monday, January 27th. Guggenheim reissued a "buy" rating on shares of Blueprint Medicines in a research note on Wednesday, December 11th. Wedbush reaffirmed an "outperform" rating and set a $128.00 target price on shares of Blueprint Medicines in a research report on Friday, February 28th. HC Wainwright reissued a "buy" rating and set a $135.00 price target on shares of Blueprint Medicines in a research report on Friday, February 14th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $125.00 price objective on shares of Blueprint Medicines in a research note on Friday, February 14th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $125.21.

Blueprint Medicines Price Performance

Shares of BPMC stock traded up $1.07 during mid-day trading on Tuesday, hitting $87.76. 618,419 shares of the stock were exchanged, compared to its average volume of 1,004,362. The company has a market cap of $5.61 billion, a PE ratio of -81.26 and a beta of 0.58. Blueprint Medicines Co. has a 52-week low of $80.68 and a 52-week high of $121.90. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15. The firm has a fifty day moving average of $99.38 and a 200 day moving average of $94.16.

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 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%. Research analysts anticipate that Blueprint Medicines Co. will post -1.28 earnings per share for the current year.

Insider Activity

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $95.91, for a total transaction of $218,099.34. Following the sale, the chief operating officer now owns 69,383 shares of the company's stock, valued at $6,654,523.53. The trade was a 3.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ariel Hurley sold 1,819 shares of the firm's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $93.26, for a total transaction of $169,639.94. Following the completion of the transaction, the insider now directly owns 14,967 shares in the company, valued at approximately $1,395,822.42. This represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,427 shares of company stock worth $4,837,801 over the last 90 days. 4.21% of the stock is currently owned by company insiders.

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.