Clear Harbor Asset Management LLC Invests $286,000 in Blueprint Medicines Co. (NASDAQ:BPMC)

Clear Harbor Asset Management LLC acquired a new position in shares of Blueprint Medicines Co. (NASDAQ:BPMCFree Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,100 shares of the biotechnology company’s stock, valued at approximately $286,000.

Several other large investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its stake in Blueprint Medicines by 0.3% during the first quarter. Rhumbline Advisers now owns 81,233 shares of the biotechnology company’s stock worth $3,655,000 after purchasing an additional 226 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in Blueprint Medicines by 5.0% during the second quarter. Ameritas Investment Partners Inc. now owns 5,022 shares of the biotechnology company’s stock worth $317,000 after purchasing an additional 240 shares during the last quarter. Corton Capital Inc. lifted its stake in Blueprint Medicines by 5.4% during the first quarter. Corton Capital Inc. now owns 4,898 shares of the biotechnology company’s stock worth $220,000 after purchasing an additional 252 shares during the last quarter. Diversified Trust Co lifted its stake in Blueprint Medicines by 2.9% during the third quarter. Diversified Trust Co now owns 11,219 shares of the biotechnology company’s stock worth $563,000 after purchasing an additional 318 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Blueprint Medicines by 63.4% during the third quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock worth $43,000 after purchasing an additional 329 shares during the last quarter.

Blueprint Medicines Price Performance

NASDAQ:BPMC opened at $94.86 on Friday. The business’s 50-day moving average price is $86.64 and its 200 day moving average price is $73.19. The firm has a market cap of $5.81 billion, a P/E ratio of -11.35 and a beta of 0.63. Blueprint Medicines Co. has a 52-week low of $41.54 and a 52-week high of $101.00. The company has a quick ratio of 3.66, a current ratio of 3.76 and a debt-to-equity ratio of 1.60.

Blueprint Medicines (NASDAQ:BPMCGet Free Report) last released its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.04) by $0.22. The firm had revenue of $71.96 million for the quarter, compared to analyst estimates of $67.34 million. Blueprint Medicines had a negative return on equity of 191.56% and a negative net margin of 203.30%. Blueprint Medicines’s revenue was up 85.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($2.65) earnings per share. As a group, sell-side analysts predict that Blueprint Medicines Co. will post -5.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jeffrey W. Albers sold 25,000 shares of Blueprint Medicines stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $81.91, for a total value of $2,047,750.00. Following the transaction, the director now owns 176,050 shares of the company’s stock, valued at approximately $14,420,255.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Blueprint Medicines news, insider Christopher K. Murray sold 621 shares of Blueprint Medicines stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $93.65, for a total transaction of $58,156.65. Following the transaction, the insider now owns 36,374 shares of the company’s stock, valued at approximately $3,406,425.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeffrey W. Albers sold 25,000 shares of Blueprint Medicines stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $81.91, for a total value of $2,047,750.00. Following the transaction, the director now directly owns 176,050 shares in the company, valued at approximately $14,420,255.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 112,289 shares of company stock valued at $9,886,913. 3.88% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BPMC. Citigroup raised their target price on Blueprint Medicines from $54.00 to $65.00 and gave the company a “sell” rating in a research note on Friday, February 16th. Wells Fargo & Company raised their target price on Blueprint Medicines from $86.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, December 19th. Needham & Company LLC reiterated a “buy” rating and issued a $97.00 target price on shares of Blueprint Medicines in a research note on Monday, February 26th. Raymond James raised their target price on Blueprint Medicines from $85.00 to $100.00 and gave the company a “strong-buy” rating in a research note on Friday, December 22nd. Finally, HC Wainwright reiterated a “buy” rating and issued a $85.00 target price on shares of Blueprint Medicines in a research note on Monday, December 11th. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $85.43.

Get Our Latest Stock Analysis on Blueprint Medicines

Blueprint Medicines Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Blueprint Medicines (NASDAQ:BPMC)

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