Pictet Asset Management Holding SA Boosts Stake in Blueprint Medicines Co. (NASDAQ:BPMC)

Pictet Asset Management Holding SA increased its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,183,682 shares of the biotechnology company’s stock after buying an additional 17,175 shares during the period. Pictet Asset Management Holding SA owned about 1.86% of Blueprint Medicines worth $103,241,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Blueprint Medicines in the third quarter valued at $475,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Blueprint Medicines by 9.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 597,232 shares of the biotechnology company’s stock worth $55,244,000 after purchasing an additional 50,736 shares during the period. Citigroup Inc. boosted its stake in Blueprint Medicines by 19.3% in the 3rd quarter. Citigroup Inc. now owns 143,441 shares of the biotechnology company’s stock worth $13,268,000 after buying an additional 23,189 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Blueprint Medicines in the third quarter worth approximately $108,000. Finally, Blueshift Asset Management LLC acquired a new position in shares of Blueprint Medicines in the 3rd quarter valued at $277,000.

Blueprint Medicines Stock Down 1.1 %

Shares of BPMC opened at $88.72 on Friday. The firm has a 50 day simple moving average of $98.13 and a two-hundred day simple moving average of $93.93. The company has a market cap of $5.67 billion, a P/E ratio of -82.15 and a beta of 0.58. 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 Co. has a one year low of $80.68 and a one year high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. Research analysts forecast that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, CEO Kate Haviland sold 1,446 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total value of $159,407.04. Following the transaction, the chief executive officer now owns 149,378 shares of the company’s stock, valued at approximately $16,467,430.72. The trade was a 0.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ariel Hurley sold 2,250 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $100.00, for a total transaction of $225,000.00. Following the sale, the insider now owns 14,967 shares of the company’s stock, valued at approximately $1,496,700. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,608 shares of company stock valued at $3,319,587. 4.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have commented on BPMC. Wolfe Research initiated coverage on Blueprint Medicines in a research report on Tuesday, March 18th. They issued an “outperform” rating on the stock. Morgan Stanley began coverage on Blueprint Medicines in a report on Thursday, March 20th. They set an “equal weight” rating and a $100.00 price objective on the stock. JPMorgan Chase & Co. increased their price target on shares of Blueprint Medicines from $126.00 to $129.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. StockNews.com downgraded Blueprint Medicines from a “hold” rating to a “sell” rating in a report on Monday, March 3rd. Finally, JMP Securities reiterated a “market outperform” rating and set a $125.00 price objective 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Blueprint Medicines currently has a consensus rating of “Moderate Buy” and an average price target of $124.95.

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.