Pitcairn Co. Raises Stock Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Pitcairn Co. raised its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,608 shares of the biotechnology company’s stock after buying an additional 293 shares during the period. Pitcairn Co.’s holdings in Blueprint Medicines were worth $925,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Blueprint Medicines in the 3rd quarter worth approximately $32,000. R Squared Ltd purchased a new stake in Blueprint Medicines during the fourth quarter valued at approximately $51,000. Headlands Technologies LLC purchased a new position in shares of Blueprint Medicines during the 4th quarter worth $65,000. Asset Management One Co. Ltd. purchased a new position in shares of Blueprint Medicines during the 4th quarter worth $88,000. Finally, Van ECK Associates Corp grew its position in shares of Blueprint Medicines by 48.2% during the 4th quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $97,000 after acquiring an additional 363 shares during the period.

Insider Transactions at Blueprint Medicines

In other Blueprint Medicines news, insider Ariel Hurley sold 3,203 shares of Blueprint Medicines stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.62, for a total transaction of $296,661.86. Following the completion of the transaction, the insider now directly owns 18,270 shares of the company’s stock, valued at $1,692,167.40. The trade was a 14.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Christina Rossi sold 2,274 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $95.02, for a total transaction of $216,075.48. Following the completion of the sale, the chief operating officer now directly owns 69,266 shares in the company, valued at approximately $6,581,655.32. This represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,608 shares of company stock worth $3,319,587. 4.21% of the stock is currently owned by company insiders.

Analyst Ratings Changes

BPMC has been the topic of several analyst reports. Jefferies Financial Group assumed coverage on Blueprint Medicines in a research report on Monday, March 17th. They set a “buy” rating and a $135.00 target price on the stock. Guggenheim reiterated a “buy” rating on shares of Blueprint Medicines in a research note on Wednesday, December 11th. Scotiabank initiated coverage on shares of Blueprint Medicines in a research note on Friday, March 7th. They set a “sector outperform” rating and a $150.00 target price on the stock. Stephens reiterated an “overweight” rating and issued a $140.00 price target on shares of Blueprint Medicines in a research report on Thursday, January 2nd. Finally, Wolfe Research initiated coverage on shares of Blueprint Medicines in a research report on Tuesday, March 18th. They set an “outperform” rating on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $124.95.

Blueprint Medicines Stock Performance

Shares of NASDAQ:BPMC opened at $81.68 on Friday. The firm has a fifty day simple moving average of $95.52 and a two-hundred day simple moving average of $93.94. Blueprint Medicines Co. has a 52 week low of $80.08 and a 52 week high of $121.90. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $5.22 billion, a P/E ratio of -75.63 and a beta of 0.75.

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

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.