Essex Investment Management Co. LLC Buys 10,275 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Essex Investment Management Co. LLC increased its stake in Blueprint Medicines Co. (NASDAQ:BPMC) by 29.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,736 shares of the biotechnology company’s stock after purchasing an additional 10,275 shares during the period. Essex Investment Management Co. LLC owned 0.07% of Blueprint Medicines worth $3,989,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Wellington Management Group LLP raised its position in Blueprint Medicines by 22.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company’s stock worth $366,726,000 after purchasing an additional 729,055 shares during the last quarter. State Street Corp grew its holdings in Blueprint Medicines by 16.2% during the 3rd quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock worth $255,827,000 after acquiring an additional 385,818 shares during the period. Geode Capital Management LLC grew its holdings in Blueprint Medicines by 1.4% during the 3rd 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 period. Charles Schwab Investment Management Inc. grew its holdings in Blueprint Medicines by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 604,397 shares of the biotechnology company’s stock worth $52,716,000 after acquiring an additional 7,165 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Blueprint Medicines by 161.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 496,087 shares of the biotechnology company’s stock worth $45,888,000 after acquiring an additional 306,079 shares during the period.

Blueprint Medicines Price Performance

Shares of NASDAQ BPMC opened at $87.12 on Friday. The company has a fifty day moving average price of $99.38 and a 200 day moving average price of $94.22. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. Blueprint Medicines Co. has a 1-year low of $80.68 and a 1-year high of $121.90. The firm has a market cap of $5.57 billion, a PE ratio of -80.67 and a beta of 0.58.

Blueprint Medicines (NASDAQ:BPMC) last issued 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%. Research analysts predict that Blueprint Medicines Co. will post -1.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BPMC has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $133.00 target price on shares of Blueprint Medicines in a report on Thursday, February 13th. Scotiabank initiated coverage on shares of Blueprint Medicines in a report on Friday. They set a “sector outperform” rating and a $150.00 target price for the company. Piper Sandler lifted their target price on shares of Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. HC Wainwright reissued a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a report on Friday, February 14th. Finally, Stephens reissued an “overweight” rating and issued a $140.00 price target on shares of Blueprint Medicines in a report on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Blueprint Medicines currently has an average rating of “Moderate Buy” and an average target price of $125.21.

Insiders Place Their Bets

In other Blueprint Medicines news, insider Ariel Hurley sold 1,819 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $93.26, for a total transaction of $169,639.94. Following the sale, the insider now directly owns 14,967 shares of the company’s stock, valued at $1,395,822.42. The trade was a 10.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeffrey W. Albers sold 15,000 shares of the business’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 sale, the director now directly owns 157,557 shares in the company, valued at $14,143,891.89. This trade represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,427 shares of company stock valued at $4,837,801 in the last three months. 4.21% of the stock is currently owned by corporate insiders.

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.