Empirical Asset Management LLC Makes New Investment in Blueprint Medicines Co. (NASDAQ:BPMC)

Empirical Asset Management LLC acquired a new position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) in the 4th quarter, HoldingsChannel reports. The firm acquired 26,921 shares of the biotechnology company’s stock, valued at approximately $2,348,000.

Other institutional investors have also made changes to their positions in the company. Hsbc Holdings PLC acquired a new position in Blueprint Medicines in the second quarter valued at about $1,060,000. Massachusetts Financial Services Co. MA increased its position in Blueprint Medicines by 48.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 252,236 shares of the biotechnology company’s stock worth $23,332,000 after buying an additional 82,693 shares during the period. Entropy Technologies LP acquired a new stake in shares of Blueprint Medicines in the third quarter valued at approximately $999,000. Fred Alger Management LLC grew its stake in Blueprint Medicines by 187.3% during the second quarter. Fred Alger Management LLC now owns 48,588 shares of the biotechnology company’s stock worth $5,237,000 after buying an additional 31,675 shares in the last quarter. Finally, Ally Bridge Group NY LLC increased its stake in Blueprint Medicines by 40.2% in the third quarter. Ally Bridge Group NY LLC now owns 106,080 shares of the biotechnology company’s stock valued at $9,812,000 after acquiring an additional 30,442 shares during the last quarter.

Insider Transactions at Blueprint Medicines

In related news, Director Jeffrey W. Albers sold 15,000 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $89.77, for a total transaction of $1,346,550.00. Following the completion of the transaction, the director now owns 157,557 shares in the company, valued at $14,143,891.89. This represents a 8.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kate Haviland sold 2,353 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $96.60, for a total transaction of $227,299.80. Following the completion of the sale, the chief executive officer now owns 150,824 shares of the company’s stock, valued at $14,569,598.40. This trade represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,970 shares of company stock valued at $2,914,246 in the last 90 days. Insiders own 4.21% of the company’s stock.

Blueprint Medicines Trading Up 5.9 %

BPMC opened at $110.05 on Friday. The firm has a market cap of $6.99 billion, a P/E ratio of -52.16 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. The stock has a 50-day moving average of $94.09 and a 200 day moving average of $95.42. Blueprint Medicines Co. has a 12 month low of $72.24 and a 12 month high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.97) by $0.08. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The company had revenue of $128.20 million during the quarter, compared to analysts’ expectations of $127.56 million. During the same period in the previous year, the company earned ($2.20) EPS. The firm’s quarterly revenue was up 126.5% on a year-over-year basis. As a group, research analysts forecast that Blueprint Medicines Co. will post -3.68 EPS for the current year.

Analyst Upgrades and Downgrades

BPMC has been the subject of a number of research reports. Stephens reiterated an “overweight” rating and issued a $140.00 price target on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Guggenheim reissued a “buy” rating on shares of Blueprint Medicines in a research note on Wednesday, December 11th. Wells Fargo & Company reduced their price objective on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. JPMorgan Chase & Co. initiated coverage on shares of Blueprint Medicines in a report on Thursday, November 14th. They set an “overweight” rating and a $126.00 price objective on the stock. Finally, StockNews.com upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Blueprint Medicines presently has an average rating of “Moderate Buy” and an average target price of $122.72.

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.