Proficio Capital Partners LLC Purchases Shares of 11,600 Blueprint Medicines Co. (NASDAQ:BPMC)

Proficio Capital Partners LLC bought a new stake in Blueprint Medicines Co. (NASDAQ:BPMC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 11,600 shares of the biotechnology company’s stock, valued at approximately $1,012,000.

A number of other hedge funds have also made changes to their positions in the business. Franklin Resources Inc. raised its stake in shares of Blueprint Medicines by 0.7% in the 3rd quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company’s stock valued at $3,259,000 after acquiring an additional 265 shares during the period. Quarry LP purchased a new stake in Blueprint Medicines during the 3rd quarter worth $32,000. Van ECK Associates Corp increased its stake in Blueprint Medicines by 48.2% during the 4th quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock worth $97,000 after buying an additional 363 shares during the period. Covestor Ltd increased its stake in Blueprint Medicines by 206.7% during the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock worth $55,000 after buying an additional 403 shares during the period. Finally, Y Intercept Hong Kong Ltd increased its stake in Blueprint Medicines by 27.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,662 shares of the biotechnology company’s stock worth $246,000 after buying an additional 576 shares during the period.

Insider Activity

In other news, CEO Kate Haviland sold 1,446 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $110.24, for a total transaction of $159,407.04. Following the sale, the chief executive officer now owns 149,378 shares in the company, valued at $16,467,430.72. The trade was a 0.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey W. Albers sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $89.77, for a total transaction of $1,346,550.00. Following the sale, the director now owns 157,557 shares in the company, valued at $14,143,891.89. This represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,427 shares of company stock worth $4,837,801 over the last 90 days. 4.21% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. HC Wainwright reissued a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a research report on Friday, February 14th. Needham & Company LLC reissued a “buy” rating and issued a $133.00 target price on shares of Blueprint Medicines in a research report on Thursday, February 13th. JMP Securities reissued a “market outperform” rating and issued a $125.00 target price on shares of Blueprint Medicines in a research report on Friday, February 14th. Wedbush reissued an “outperform” rating and issued a $128.00 target price on shares of Blueprint Medicines in a research report on Friday, February 28th. Finally, StockNews.com lowered shares of Blueprint Medicines from a “hold” rating to a “sell” rating in a report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $125.21.

Blueprint Medicines Stock Down 1.6 %

BPMC stock opened at $87.12 on Friday. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. The firm’s 50-day moving average is $99.43 and its two-hundred day moving average is $94.27. Blueprint Medicines Co. has a 52 week low of $80.68 and a 52 week high of $121.90. The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of -80.67 and a beta of 0.62.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) EPS 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%. On average, analysts forecast that Blueprint Medicines Co. will post -1.28 earnings per share for the current fiscal year.

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.