Sherbrooke Park Advisers LLC Grows Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Sherbrooke Park Advisers LLC lifted its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 8.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,374 shares of the biotechnology company’s stock after acquiring an additional 261 shares during the quarter. Sherbrooke Park Advisers LLC’s holdings in Blueprint Medicines were worth $294,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cerity Partners LLC bought a new position in shares of Blueprint Medicines during the fourth quarter valued at approximately $291,000. Stephens Inc. AR bought a new position in shares of Blueprint Medicines during the fourth quarter valued at approximately $321,000. Bank of New York Mellon Corp raised its holdings in shares of Blueprint Medicines by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 303,432 shares of the biotechnology company’s stock valued at $26,465,000 after acquiring an additional 7,101 shares in the last quarter. KBC Group NV raised its holdings in shares of Blueprint Medicines by 63.9% during the fourth quarter. KBC Group NV now owns 2,625 shares of the biotechnology company’s stock valued at $229,000 after acquiring an additional 1,023 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Blueprint Medicines during the fourth quarter valued at approximately $21,104,000.

Blueprint Medicines Price Performance

Shares of NASDAQ:BPMC opened at $101.69 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 debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80. The business has a fifty day moving average price of $89.65 and a 200-day moving average price of $94.40. The company has a market capitalization of $6.57 billion, a PE ratio of -94.16 and a beta of 0.83.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.32). Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. The company had revenue of $149.41 million for the quarter, compared to the consensus estimate of $158.31 million. During the same quarter in the previous year, the business earned $1.40 earnings per share. Blueprint Medicines’s revenue was up 55.5% compared to the same quarter last year. As a group, equities analysts expect that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.

Insider Activity at Blueprint Medicines

In related news, COO Christina Rossi sold 2,274 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $95.02, for a total transaction of $216,075.48. Following the sale, the chief operating officer now directly owns 69,266 shares of the company’s stock, valued at $6,581,655.32. This trade represents a 3.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ariel Hurley sold 3,203 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.62, for a total value of $296,661.86. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,503 shares of company stock valued at $1,027,931 over the last ninety days. Insiders own 4.21% of the company’s stock.

Wall Street Analysts Forecast Growth

BPMC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on Blueprint Medicines from $126.00 to $129.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Jefferies Financial Group began coverage on Blueprint Medicines in a report on Monday, March 17th. They issued a “buy” rating and a $135.00 price objective for the company. Scotiabank began coverage on Blueprint Medicines in a report on Friday, March 7th. They issued a “sector outperform” rating and a $150.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, May 2nd. Finally, Wolfe Research began coverage on Blueprint Medicines in a report on Tuesday, March 18th. They issued an “outperform” rating for the company. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Blueprint Medicines has a consensus rating of “Moderate Buy” and an average target price of $126.56.

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.