Envestnet Asset Management Inc. Buys 3,723 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Envestnet Asset Management Inc. grew its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 13.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 32,115 shares of the biotechnology company's stock after buying an additional 3,723 shares during the quarter. Envestnet Asset Management Inc. owned 0.05% of Blueprint Medicines worth $2,801,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of BPMC. R Squared Ltd purchased a new position in Blueprint Medicines during the fourth quarter valued at $51,000. Headlands Technologies LLC acquired a new position in Blueprint Medicines during the fourth quarter worth approximately $65,000. Asset Management One Co. Ltd. purchased a new stake in Blueprint Medicines in the fourth quarter valued at approximately $88,000. Van ECK Associates Corp boosted its holdings in shares of Blueprint Medicines by 48.2% in the fourth quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company's stock valued at $97,000 after acquiring an additional 363 shares during the period. Finally, Venturi Wealth Management LLC purchased a new stake in Blueprint Medicines in the 4th quarter valued at $131,000.

Blueprint Medicines Stock Performance

Shares of NASDAQ:BPMC traded up $9.00 during midday trading on Thursday, reaching $98.50. The company had a trading volume of 526,432 shares, compared to its average volume of 771,525. Blueprint Medicines Co. has a 52-week low of $73.04 and a 52-week high of $121.90. The company's 50 day moving average price is $87.29 and its 200 day moving average price is $93.12. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. The stock has a market cap of $6.29 billion, a P/E ratio of -91.61 and a beta of 0.75.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last released its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share for the quarter, missing analysts' consensus estimates 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%. As a group, sell-side analysts anticipate that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.

Insider Activity

In other news, insider Ariel Hurley sold 3,203 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.62, for a total transaction of $296,661.86. Following the completion of the sale, the insider now owns 18,270 shares of the company's stock, valued at $1,692,167.40. This represents a 14.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $95.02, for a total value of $216,075.48. Following the transaction, the chief operating officer now directly owns 69,266 shares in the company, valued at approximately $6,581,655.32. The trade was a 3.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BPMC shares. Wolfe Research began coverage on shares of Blueprint Medicines in a research note on Tuesday, March 18th. They set an "outperform" rating for the company. Jefferies Financial Group assumed coverage on shares of Blueprint Medicines in a research note on Monday, March 17th. They issued a "buy" rating and a $135.00 target price on the stock. Morgan Stanley assumed coverage on shares of Blueprint Medicines in a research report on Thursday, March 20th. They set an "equal weight" rating and a $100.00 price target for the company. Needham & Company LLC cut their price objective on Blueprint Medicines from $133.00 to $130.00 and set a "buy" rating on the stock in a research report on Monday. Finally, JPMorgan Chase & Co. upped their target price on Blueprint Medicines from $126.00 to $129.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $124.53.

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.