Wealth Enhancement Advisory Services LLC Takes $297,000 Position in Blueprint Medicines Corporation (NASDAQ:BPMC)

Wealth Enhancement Advisory Services LLC purchased a new stake in Blueprint Medicines Corporation (NASDAQ:BPMC - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,353 shares of the biotechnology company's stock, valued at approximately $297,000.

A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Blueprint Medicines by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 6,774,884 shares of the biotechnology company's stock valued at $590,905,000 after acquiring an additional 91,450 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Blueprint Medicines by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,679,089 shares of the biotechnology company's stock valued at $495,331,000 after acquiring an additional 291,822 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Blueprint Medicines by 8.0% in the fourth quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company's stock valued at $373,421,000 after acquiring an additional 316,754 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in Blueprint Medicines by 16.1% in the fourth quarter. William Blair Investment Management LLC now owns 1,944,695 shares of the biotechnology company's stock valued at $169,616,000 after acquiring an additional 269,896 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Blueprint Medicines by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,490,101 shares of the biotechnology company's stock valued at $129,996,000 after acquiring an additional 9,914 shares during the last quarter.

Insider Transactions at Blueprint Medicines

In other news, insider Percy H. Carter sold 1,051 shares of the company's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $128.25, for a total transaction of $134,790.75. Following the completion of the sale, the insider directly owned 53,155 shares in the company, valued at approximately $6,817,128.75. This represents a 1.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Christina Rossi sold 2,274 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $100.51, for a total value of $228,559.74. Following the sale, the chief operating officer owned 64,718 shares of the company's stock, valued at approximately $6,504,806.18. The trade was a 3.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,351 shares of company stock valued at $1,384,244. Company insiders own 4.21% of the company's stock.

Blueprint Medicines Stock Performance

Shares of BPMC stock traded up $0.76 during trading on Thursday, reaching $129.31. 3,277,244 shares of the company's stock were exchanged, compared to its average volume of 1,356,117. 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 has a market capitalization of $8.35 billion, a PE ratio of -52.35 and a beta of 0.89. Blueprint Medicines Corporation has a twelve month low of $73.04 and a twelve month high of $129.95. The firm's fifty day moving average price is $115.93 and its 200-day moving average price is $101.21.

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Cowen cut Blueprint Medicines to a "hold" rating in a report on Monday, June 2nd. Morgan Stanley raised their target price on Blueprint Medicines from $102.00 to $129.00 and gave the stock an "equal weight" 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. HC Wainwright restated a "buy" rating and set a $135.00 target price on shares of Blueprint Medicines in a report on Friday, May 2nd. Finally, Wolfe Research cut 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, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Blueprint Medicines currently has a consensus rating of "Hold" and an average price target of $128.25.

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.