Covestor Ltd Raises Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Covestor Ltd lifted its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 62.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 973 shares of the biotechnology company’s stock after buying an additional 375 shares during the period. Covestor Ltd’s holdings in Blueprint Medicines were worth $85,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BPMC. Torray Investment Partners LLC boosted its holdings in Blueprint Medicines by 1.1% in the fourth quarter. Torray Investment Partners LLC now owns 16,499 shares of the biotechnology company’s stock valued at $1,439,000 after purchasing an additional 186 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Blueprint Medicines by 0.7% during the 3rd quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company’s stock worth $3,259,000 after purchasing an additional 265 shares during the period. Pitcairn Co. lifted its stake in Blueprint Medicines by 2.8% in the fourth quarter. Pitcairn Co. now owns 10,608 shares of the biotechnology company’s stock valued at $925,000 after buying an additional 293 shares during the last quarter. Hillsdale Investment Management Inc. lifted its position in Blueprint Medicines by 0.6% in the 4th quarter. Hillsdale Investment Management Inc. now owns 50,830 shares of the biotechnology company’s stock valued at $4,433,000 after purchasing an additional 310 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Blueprint Medicines by 48.2% during the fourth quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $97,000 after buying an additional 363 shares during the last quarter.

Insider Activity

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $110.14, for a total transaction of $250,458.36. Following the completion of the sale, the chief operating officer now directly owns 67,109 shares of the company’s stock, valued at approximately $7,391,385.26. The trade was a 3.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ariel Hurley sold 3,203 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.62, for a total transaction of $296,661.86. Following the completion of the transaction, the insider now directly owns 18,270 shares in the company, valued at $1,692,167.40. This trade represents a 14.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,358 shares of company stock valued at $2,583,187 over the last 90 days. 4.21% of the stock is owned by company insiders.

Blueprint Medicines Price Performance

Shares of BPMC stock opened at $80.84 on Monday. Blueprint Medicines Co. has a 1 year low of $73.04 and a 1 year high of $121.90. 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 $90.91 and its 200-day moving average is $93.54. The firm has a market capitalization of $5.17 billion, a price-to-earnings ratio of -74.85 and a beta of 0.75.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data 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%. Sell-side analysts forecast that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BPMC shares. HC Wainwright reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, February 14th. JMP Securities restated a “market outperform” rating and issued a $125.00 target price on shares of Blueprint Medicines in a report on Friday, February 14th. Wolfe Research assumed coverage on shares of Blueprint Medicines in a research report on Tuesday, March 18th. They issued an “outperform” rating for the company. Stephens reissued an “overweight” rating and issued a $140.00 price objective on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Finally, Scotiabank started coverage on shares of Blueprint Medicines in a research note on Friday, March 7th. They set a “sector outperform” rating and a $150.00 target price for the company. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Blueprint Medicines presently has an average rating of “Moderate Buy” and a consensus target price of $124.95.

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.