Handelsbanken Fonder AB Purchases 3,000 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Handelsbanken Fonder AB increased its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 19.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 18,651 shares of the biotechnology company’s stock after acquiring an additional 3,000 shares during the period. Handelsbanken Fonder AB’s holdings in Blueprint Medicines were worth $1,627,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Quarry LP purchased a new stake in Blueprint Medicines during the third quarter valued at $32,000. R Squared Ltd purchased a new position in Blueprint Medicines during the 4th quarter valued at $51,000. Covestor Ltd increased its position in shares of Blueprint Medicines by 206.7% during the third quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock worth $55,000 after acquiring an additional 403 shares during the period. Asset Management One Co. Ltd. bought a new stake in Blueprint Medicines during the 4th quarter valued at $88,000. Finally, Van ECK Associates Corp lifted its stake in Blueprint Medicines by 48.2% in the fourth quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock worth $97,000 after acquiring an additional 363 shares during the period.

Blueprint Medicines Price Performance

Blueprint Medicines stock opened at $91.33 on Wednesday. The firm’s 50-day simple moving average is $99.38 and its 200 day simple moving average is $94.42. The firm has a market capitalization of $5.84 billion, a PE ratio of -84.56 and a beta of 0.61. 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.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results 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%. On average, equities research analysts predict that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BPMC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on Blueprint Medicines from $126.00 to $129.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Guggenheim reaffirmed a “buy” rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. Wells Fargo & Company dropped their price objective on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Piper Sandler lifted their price target on Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Finally, Wedbush reaffirmed an “outperform” rating and set a $128.00 price objective (up from $124.00) on shares of Blueprint Medicines in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $123.83.

Insider Transactions at Blueprint Medicines

In other Blueprint Medicines news, insider Ariel Hurley sold 1,819 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $93.26, for a total transaction of $169,639.94. Following the sale, the insider now owns 14,967 shares in the company, valued at $1,395,822.42. This represents a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeffrey W. Albers sold 15,161 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $109.53, for a total transaction of $1,660,584.33. Following the sale, the director now directly owns 152,396 shares in the company, valued at $16,691,933.88. This trade represents a 9.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,577 shares of company stock valued at $4,768,439 over the last 90 days. Corporate insiders own 4.21% of the company’s stock.

Blueprint Medicines 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.