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

Wealth Enhancement Advisory Services LLC acquired a new stake in Blueprint Medicines Corporation (NASDAQ:BPMC - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,353 shares of the biotechnology company's stock, valued at approximately $297,000.

Other institutional investors have also recently bought and sold shares of the company. Headlands Technologies LLC bought a new stake in shares of Blueprint Medicines during the 4th quarter worth approximately $65,000. Thematics Asset Management bought a new position in shares of Blueprint Medicines during the fourth quarter valued at $72,000. Covestor Ltd boosted 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 acquiring an additional 375 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Blueprint Medicines during the 4th quarter worth about $106,000. Finally, GF Fund Management CO. LTD. acquired a new position in shares of Blueprint Medicines during the 4th quarter valued at $116,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BPMC shares. Scotiabank downgraded Blueprint Medicines from a "strong-buy" rating to a "sector perform" rating and set a $135.00 price target for the company. in a research note on Monday, June 2nd. Citigroup upgraded Blueprint Medicines from a "strong sell" rating to a "hold" rating and increased their price objective for the company from $83.00 to $129.00 in a research report on Wednesday, June 4th. Wedbush cut Blueprint Medicines from an "outperform" rating to a "neutral" rating and increased their price objective for the stock from $128.00 to $129.00 in a report on Monday, June 2nd. Wall Street Zen raised Blueprint Medicines from a "sell" rating to a "hold" rating in a report on Friday, May 2nd. Finally, Wells Fargo & Company cut Blueprint Medicines from a "strong-buy" rating to a "hold" rating and lowered their price target for the company from $143.00 to $129.00 in a report on Tuesday, June 17th. Eighteen research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $128.25.

Insider Transactions at Blueprint Medicines

In related news, insider Percy H. Carter sold 1,051 shares of the company's stock in a transaction on Thursday, July 3rd. The shares were 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 of the company's stock, valued at approximately $6,817,128.75. This represents a 1.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey W. Albers sold 5,000 shares of the business's stock in a transaction dated 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 owned 146,630 shares in the company, 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. Insiders sold a total of 13,351 shares of company stock worth $1,384,244 in the last ninety days. Company insiders own 4.21% of the company's stock.

Blueprint Medicines Stock Up 0.6%

NASDAQ:BPMC traded up $0.78 during mid-day trading on Thursday, hitting $129.33. The company had a trading volume of 5,983,948 shares, compared to its average volume of 1,369,942. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 1.01. Blueprint Medicines Corporation has a 1 year low of $73.04 and a 1 year high of $129.95. The business has a fifty day simple moving average of $116.53 and a 200-day simple moving average of $101.48. The firm has a market capitalization of $8.35 billion, a price-to-earnings ratio of -52.36 and a beta of 0.89.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last released its earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.32). The company had revenue of $149.41 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 55.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.40 EPS. Equities analysts forecast that Blueprint Medicines Corporation will post -1.28 earnings per share for the current fiscal year.

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.