Jennison Associates LLC Purchases New Shares in Blueprint Medicines Co. (NASDAQ:BPMC)

Jennison Associates LLC acquired a new position in Blueprint Medicines Co. (NASDAQ:BPMC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 360,208 shares of the biotechnology company’s stock, valued at approximately $31,417,000.

Other large investors have also recently made changes to their positions in the company. Empirical Asset Management LLC purchased a new position in Blueprint Medicines in the fourth quarter worth about $2,348,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Blueprint Medicines by 48.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 252,236 shares of the biotechnology company’s stock valued at $23,332,000 after purchasing an additional 82,693 shares during the last quarter. Entropy Technologies LP purchased a new position in shares of Blueprint Medicines in the 3rd quarter worth approximately $999,000. Algert Global LLC increased its position in shares of Blueprint Medicines by 40.7% during the 3rd quarter. Algert Global LLC now owns 92,236 shares of the biotechnology company’s stock valued at $8,532,000 after purchasing an additional 26,696 shares during the last quarter. Finally, Ally Bridge Group NY LLC increased its position in shares of Blueprint Medicines by 40.2% during the 3rd quarter. Ally Bridge Group NY LLC now owns 106,080 shares of the biotechnology company’s stock valued at $9,812,000 after purchasing an additional 30,442 shares during the last quarter.

Insider Activity at Blueprint Medicines

In related news, CEO Kate Haviland sold 1,446 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $110.24, for a total value of $159,407.04. Following the completion of the transaction, the chief executive officer now directly owns 149,378 shares of the company’s stock, valued at $16,467,430.72. This trade represents a 0.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ariel Hurley sold 1,819 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was 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 in the company, valued at approximately $1,395,822.42. This represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,851 shares of company stock valued at $4,984,696 over the last quarter. 4.21% of the stock is owned by corporate insiders.

Blueprint Medicines Stock Up 1.7 %

Shares of NASDAQ BPMC opened at $113.40 on Wednesday. Blueprint Medicines Co. has a 12-month low of $72.24 and a 12-month high of $121.90. The stock’s fifty day simple moving average is $98.51 and its two-hundred day simple moving average is $95.02. The stock has a market capitalization of $7.20 billion, a PE ratio of -53.74 and a beta of 0.61. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09.

Analyst Ratings Changes

BPMC has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Blueprint Medicines from $126.00 to $129.00 and gave the stock an “overweight” rating in a research note on Tuesday. Stephens reiterated an “overweight” rating and set a $140.00 price target on shares of Blueprint Medicines in a report on Thursday, January 2nd. HC Wainwright reissued a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research report on Friday, November 15th. Wedbush restated an “outperform” rating and set 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 Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $123.72.

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.