AMI Asset Management Corp Invests $970,000 in Blueprint Medicines Corporation (NASDAQ:BPMC)

AMI Asset Management Corp purchased a new position in shares of Blueprint Medicines Corporation (NASDAQ:BPMC - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,964 shares of the biotechnology company's stock, valued at approximately $970,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in Blueprint Medicines in the fourth quarter valued at $65,000. Thematics Asset Management acquired a new stake in Blueprint Medicines in the fourth quarter valued at $72,000. Covestor Ltd increased its holdings in Blueprint Medicines by 62.7% in the fourth quarter. Covestor Ltd now owns 973 shares of the biotechnology company's stock valued at $85,000 after purchasing an additional 375 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Blueprint Medicines in the fourth quarter valued at $106,000. Finally, GF Fund Management CO. LTD. acquired a new stake in Blueprint Medicines in the fourth quarter valued at $116,000.

Blueprint Medicines Stock Down 0.0%

BPMC stock opened at $128.25 on Thursday. Blueprint Medicines Corporation has a twelve month low of $73.04 and a twelve month high of $128.45. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 1.01. The stock's 50 day moving average is $107.53 and its 200-day moving average is $98.80. The firm has a market capitalization of $8.28 billion, a PE ratio of -51.92 and a beta of 0.84.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.32). Blueprint Medicines had a negative net margin of 27.70% and a negative return on equity of 64.60%. The company had revenue of $149.41 million during the quarter, compared to the consensus estimate of $158.31 million. During the same quarter in the prior year, the business earned $1.40 EPS. The firm's revenue for the quarter was up 55.5% compared to the same quarter last year. Sell-side analysts expect that Blueprint Medicines Corporation will post -1.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Christina Rossi sold 2,274 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $101.75, for a total transaction of $231,379.50. Following the completion of the sale, the chief operating officer now owns 66,992 shares in the company, valued at $6,816,436. This trade represents a 3.28% 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 2,752 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $103.13, for a total transaction of $283,813.76. Following the sale, the insider now owns 16,944 shares of the company's stock, valued at approximately $1,747,434.72. The trade was a 13.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,300 shares of company stock valued at $1,249,453 in the last 90 days. 4.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

BPMC has been the subject of a number of recent research reports. Wolfe Research downgraded Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 3rd. UBS Group increased their price target on Blueprint Medicines from $88.00 to $129.00 and gave the stock a "neutral" rating in a report on Thursday, June 5th. Morgan Stanley increased their price target on Blueprint Medicines from $102.00 to $129.00 and gave the stock an "equal weight" rating in a report on Thursday, June 5th. Needham & Company LLC downgraded Blueprint Medicines from a "buy" rating to a "hold" rating and set a $130.00 price target for the company. in a report on Monday, June 2nd. Finally, Citizens Jmp downgraded Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 3rd. Eighteen research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $128.06.

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.

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