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

AMI Asset Management Corp bought a new stake in shares of Blueprint Medicines Corporation (NASDAQ:BPMC - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,964 shares of the biotechnology company's stock, valued at approximately $970,000.

A number of other institutional investors have also recently modified their holdings of BPMC. Wealth Enhancement Advisory Services LLC acquired a new stake in Blueprint Medicines in the 1st quarter worth about $297,000. Fifth Third Bancorp boosted its holdings in Blueprint Medicines by 4.7% in the 1st quarter. Fifth Third Bancorp now owns 3,221 shares of the biotechnology company's stock worth $285,000 after buying an additional 146 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Blueprint Medicines by 70.1% in the 1st quarter. SG Americas Securities LLC now owns 7,276 shares of the biotechnology company's stock worth $644,000 after buying an additional 2,999 shares during the last quarter. Pallas Capital Advisors LLC boosted its holdings in Blueprint Medicines by 19.4% in the 1st quarter. Pallas Capital Advisors LLC now owns 6,843 shares of the biotechnology company's stock worth $606,000 after buying an additional 1,114 shares during the last quarter. Finally, NBC Securities Inc. boosted its holdings in shares of Blueprint Medicines by 132,300.0% during the 1st quarter. NBC Securities Inc. now owns 2,648 shares of the biotechnology company's stock worth $234,000 after purchasing an additional 2,646 shares during the last quarter.

Blueprint Medicines Trading Down 0.0%

Shares of BPMC stock traded down $0.04 during trading on Friday, hitting $128.11. 2,988,770 shares of the stock traded hands, compared to its average volume of 1,300,673. The firm has a market capitalization of $8.27 billion, a P/E ratio of -51.87 and a beta of 0.84. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.80 and a quick ratio of 2.75. The firm's fifty day moving average price is $109.27 and its 200-day moving average price is $99.33. Blueprint Medicines Corporation has a 52-week low of $73.04 and a 52-week high of $128.45.

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

Insider Buying and Selling

In related news, COO Christina Rossi sold 2,274 shares of the business's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $100.51, for a total transaction of $228,559.74. Following the completion of the transaction, the chief operating officer now owns 64,718 shares in the company, valued at approximately $6,504,806.18. The trade was a 3.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jeffrey W. Albers sold 5,000 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $101.14, for a total transaction of $505,700.00. Following the transaction, the director now owns 146,630 shares of the company's stock, valued at approximately $14,830,158.20. The trade was a 3.30% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,300 shares of company stock worth $1,249,453. Corporate insiders own 4.21% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BPMC. UBS Group boosted their target price on Blueprint Medicines from $88.00 to $129.00 and gave the stock a "neutral" rating in a report on Thursday, June 5th. Scotiabank cut Blueprint Medicines from a "strong-buy" rating to a "sector perform" rating and set a $135.00 target price on the stock. in a report on Monday, June 2nd. Stephens cut Blueprint Medicines from a "strong-buy" rating to a "hold" rating and lowered their target price for the stock from $150.00 to $135.00 in a report on Tuesday, June 3rd. Wolfe Research cut Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 3rd. Finally, JMP Securities restated a "market perform" rating on shares of Blueprint Medicines in a report on Tuesday, June 3rd. Eighteen investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $128.06.

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.