Cerity Partners LLC Purchases New Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Cerity Partners LLC purchased a new position in Blueprint Medicines Co. (NASDAQ:BPMC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,298 shares of the biotechnology company’s stock, valued at approximately $291,000.

A number of other large investors have also recently modified their holdings of BPMC. Vanguard Group Inc. lifted its stake in shares of Blueprint Medicines by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 6,774,884 shares of the biotechnology company’s stock valued at $590,905,000 after purchasing an additional 91,450 shares during the period. Wellington Management Group LLP lifted its stake in shares of Blueprint Medicines by 8.0% in the fourth quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company’s stock worth $373,421,000 after buying an additional 316,754 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of Blueprint Medicines by 16.1% in the 4th quarter. William Blair Investment Management LLC now owns 1,944,695 shares of the biotechnology company’s stock worth $169,616,000 after purchasing an additional 269,896 shares in the last quarter. Geode Capital Management LLC raised its position in Blueprint Medicines by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,490,101 shares of the biotechnology company’s stock worth $129,996,000 after buying an additional 9,914 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its holdings in shares of Blueprint Medicines by 1.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,183,682 shares of the biotechnology company’s stock valued at $103,241,000 after purchasing an additional 17,175 shares during the last quarter.

Blueprint Medicines Trading Up 2.9 %

Shares of BPMC stock opened at $85.81 on Thursday. The stock’s 50 day simple moving average is $87.82 and its two-hundred day simple moving average is $93.12. Blueprint Medicines Co. has a 1 year low of $73.04 and a 1 year high of $121.90. The company has a market cap of $5.48 billion, a PE ratio of -79.45 and a beta of 0.75. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates 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%. Research analysts predict that Blueprint Medicines Co. will post -1.28 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BPMC shares. Jefferies Financial Group assumed coverage on Blueprint Medicines in a report on Monday, March 17th. They issued a “buy” rating and a $135.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $133.00 target price on shares of Blueprint Medicines in a report on Tuesday, April 8th. HC Wainwright reaffirmed a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a research report on Friday, February 14th. StockNews.com downgraded shares of Blueprint Medicines from a “hold” rating to a “sell” rating in a report on Monday, March 3rd. Finally, JMP Securities restated a “market outperform” rating and set a $125.00 target price on shares of Blueprint Medicines in a research note on Friday, February 14th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $124.95.

Insider Activity

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the firm’s 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 transaction, the chief operating officer now directly owns 69,266 shares in the company, valued at $6,581,655.32. This trade represents a 3.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ariel Hurley sold 3,203 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.62, for a total value of $296,661.86. Following the completion of the sale, the insider now owns 18,270 shares of the company’s stock, valued at $1,692,167.40. This represents a 14.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.