Wealthfront Advisers LLC Buys New Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Wealthfront Advisers LLC purchased a new stake in Blueprint Medicines Co. (NASDAQ:BPMC) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 115,817 shares of the biotechnology company’s stock, valued at approximately $10,102,000. Wealthfront Advisers LLC owned 0.18% of Blueprint Medicines as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in BPMC. Quarry LP acquired a new position in shares of Blueprint Medicines during the third quarter worth approximately $32,000. R Squared Ltd acquired a new position in shares of Blueprint Medicines during the fourth quarter worth approximately $51,000. Covestor Ltd raised its position in Blueprint Medicines by 206.7% in the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock valued at $55,000 after buying an additional 403 shares during the last quarter. Asset Management One Co. Ltd. purchased a new stake in Blueprint Medicines in the 4th quarter valued at $88,000. Finally, Van ECK Associates Corp raised its position in Blueprint Medicines by 48.2% in the 4th quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $97,000 after buying an additional 363 shares during the last quarter.

Blueprint Medicines Price Performance

NASDAQ:BPMC opened at $87.76 on Wednesday. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of -81.26 and a beta of 0.58. Blueprint Medicines Co. has a 1 year low of $80.68 and a 1 year high of $121.90. The business has a 50 day simple moving average of $99.39 and a 200-day simple moving average of $94.12. 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 (NASDAQ:BPMC) last posted 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%. Equities analysts forecast that Blueprint Medicines Co. will post -1.28 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on BPMC. StockNews.com lowered Blueprint Medicines from a “hold” rating to a “sell” rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. increased their price target on Blueprint Medicines from $126.00 to $129.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Scotiabank initiated coverage on Blueprint Medicines in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $150.00 price target for the company. Wedbush restated an “outperform” rating and issued a $128.00 price objective on shares of Blueprint Medicines in a research note on Friday, February 28th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $133.00 price target on shares of Blueprint Medicines in a research note on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.21.

Insider Buying and Selling

In other Blueprint Medicines news, CEO Kate Haviland sold 1,446 shares of Blueprint Medicines stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total transaction of $159,407.04. Following the completion of the sale, the chief executive officer now directly owns 149,378 shares of the company’s stock, valued at $16,467,430.72. The trade was a 0.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ariel Hurley sold 1,819 shares of Blueprint Medicines stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $93.26, for a total value of $169,639.94. Following the sale, the insider now directly owns 14,967 shares of the company’s stock, valued at approximately $1,395,822.42. This trade represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 48,427 shares of company stock valued at $4,837,801. 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.