Empirical Asset Management LLC Acquires Shares of 26,921 Blueprint Medicines Co. (NASDAQ:BPMC)

Empirical Asset Management LLC bought a new position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 26,921 shares of the biotechnology company’s stock, valued at approximately $2,348,000.

A number of other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP increased its stake in 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 worth $366,726,000 after buying an additional 729,055 shares during the period. State Street Corp grew its stake in shares of Blueprint Medicines by 16.2% during the third 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 in the last quarter. Geode Capital Management LLC increased its position in shares of Blueprint Medicines by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,480,187 shares of the biotechnology company’s stock worth $136,942,000 after acquiring an additional 20,703 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Blueprint Medicines by 540.0% in the second quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company’s stock worth $67,646,000 after acquiring an additional 529,566 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Blueprint Medicines by 9.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 597,232 shares of the biotechnology company’s stock valued at $55,244,000 after purchasing an additional 50,736 shares during the last quarter.

Blueprint Medicines Price Performance

Shares of BPMC opened at $110.05 on Friday. Blueprint Medicines Co. has a 12 month low of $72.24 and a 12 month high of $121.90. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. The stock has a fifty day moving average price of $94.09 and a 200 day moving average price of $95.42. The company has a market cap of $6.99 billion, a P/E ratio of -52.16 and a beta of 0.61.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.08. The business had revenue of $128.20 million during the quarter, compared to analyst estimates of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The company’s quarterly revenue was up 126.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($2.20) earnings per share. On average, research analysts forecast that Blueprint Medicines Co. will post -3.68 earnings per share for the current year.

Analyst Ratings Changes

BPMC has been the topic of a number of recent analyst reports. StockNews.com raised Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. UBS Group assumed coverage on shares of Blueprint Medicines in a report on Thursday, October 24th. They issued a “neutral” rating and a $88.00 price target on the stock. JPMorgan Chase & Co. initiated coverage on shares of Blueprint Medicines in a report on Thursday, November 14th. They set an “overweight” rating and a $126.00 price objective for the company. Wedbush reissued an “outperform” rating and issued a $124.00 target price (down previously from $135.00) on shares of Blueprint Medicines in a research report on Monday, January 13th. Finally, Wells Fargo & Company reduced their price target on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $122.72.

Insider Activity

In other news, Director Jeffrey W. Albers sold 15,000 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $89.77, for a total transaction of $1,346,550.00. Following the completion of the sale, the director now directly owns 157,557 shares of the company’s stock, valued at $14,143,891.89. This trade represents a 8.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kate Haviland sold 2,353 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $96.60, for a total transaction of $227,299.80. Following the completion of the sale, the chief executive officer now owns 150,824 shares of the company’s stock, valued at $14,569,598.40. This represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,970 shares of company stock valued at $2,914,246. Insiders own 4.21% of the company’s stock.

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.