Proficio Capital Partners LLC Takes Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Proficio Capital Partners LLC bought a new stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 11,600 shares of the biotechnology company’s stock, valued at approximately $1,012,000.

A number of other institutional investors have also recently modified their holdings of the stock. Wellington Management Group LLP lifted its position in shares of Blueprint Medicines by 22.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company’s stock valued at $366,726,000 after acquiring an additional 729,055 shares during the period. State Street Corp lifted its position in shares of Blueprint Medicines by 16.2% during the 3rd quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock valued at $255,827,000 after acquiring an additional 385,818 shares during the period. Geode Capital Management LLC lifted its position in shares of Blueprint Medicines by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,480,187 shares of the biotechnology company’s stock valued at $136,942,000 after acquiring an additional 20,703 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Blueprint Medicines by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 604,397 shares of the biotechnology company’s stock valued at $52,716,000 after acquiring an additional 7,165 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Blueprint Medicines by 161.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 496,087 shares of the biotechnology company’s stock valued at $45,888,000 after acquiring an additional 306,079 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BPMC shares. Jefferies Financial Group started coverage on Blueprint Medicines in a report on Monday, March 17th. They set a “buy” rating and a $135.00 price target for the company. Stephens reissued an “overweight” rating and set a $140.00 price target on shares of Blueprint Medicines in a report on Thursday, January 2nd. StockNews.com cut Blueprint Medicines from a “hold” rating to a “sell” rating in a report on Monday, March 3rd. Piper Sandler boosted their price target on Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Finally, Guggenheim reissued a “buy” rating on shares of Blueprint Medicines in a report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $124.95.

Blueprint Medicines Trading Up 0.3 %

NASDAQ BPMC opened at $88.72 on Friday. The business’s 50-day moving average price is $99.47 and its two-hundred day moving average price is $93.88. Blueprint Medicines Co. has a 12 month low of $80.68 and a 12 month high of $121.90. The firm has a market capitalization of $5.67 billion, a PE ratio of -82.15 and a beta of 0.58. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15.

Blueprint Medicines (NASDAQ:BPMC) last announced 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 net margin of 13.19% and a negative return on equity of 77.49%. On average, analysts expect that Blueprint Medicines Co. will post -1.28 EPS for the current year.

Insider Activity at Blueprint Medicines

In related news, Director Jeffrey W. Albers sold 5,000 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $102.28, for a total transaction of $511,400.00. Following the sale, the director now owns 157,557 shares in the company, valued at $16,114,929.96. This represents a 3.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ariel Hurley sold 2,250 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were 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 approximately $1,496,700. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,334 shares of company stock worth $3,103,512 in 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.