Fisher Asset Management LLC Sells 55,349 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Fisher Asset Management LLC lessened its stake in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 14.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 326,564 shares of the biotechnology company's stock after selling 55,349 shares during the quarter. Fisher Asset Management LLC owned about 0.54% of Blueprint Medicines worth $30,122,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in BPMC. Polar Capital Holdings Plc lifted its position in Blueprint Medicines by 108.0% during the third quarter. Polar Capital Holdings Plc now owns 1,040,000 shares of the biotechnology company's stock valued at $52,229,000 after buying an additional 540,000 shares in the last quarter. Rock Springs Capital Management LP boosted its position in Blueprint Medicines by 22.8% during the 3rd quarter. Rock Springs Capital Management LP now owns 2,685,294 shares of the biotechnology company's stock worth $134,855,000 after purchasing an additional 498,622 shares during the period. Avidity Partners Management LP increased its holdings in Blueprint Medicines by 81.1% in the 3rd quarter. Avidity Partners Management LP now owns 751,600 shares of the biotechnology company's stock valued at $37,745,000 after purchasing an additional 336,600 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Blueprint Medicines by 2,788.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 269,658 shares of the biotechnology company's stock valued at $24,873,000 after purchasing an additional 260,321 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Blueprint Medicines by 3.2% during the third quarter. Wellington Management Group LLP now owns 5,080,521 shares of the biotechnology company's stock worth $255,144,000 after purchasing an additional 156,807 shares in the last quarter.

Blueprint Medicines Stock Performance

Shares of NASDAQ:BPMC traded up $0.19 during trading on Friday, hitting $107.19. 1,004,153 shares of the company traded hands, compared to its average volume of 698,730. The stock has a market capitalization of $6.56 billion, a price-to-earnings ratio of -22.28 and a beta of 0.65. Blueprint Medicines Co. has a one year low of $43.89 and a one year high of $110.93. The company has a quick ratio of 3.66, a current ratio of 3.76 and a debt-to-equity ratio of 1.60. The business's fifty day moving average is $91.77 and its 200-day moving average is $80.73.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($2.04) by $0.22. The firm had revenue of $71.96 million during the quarter, compared to analyst estimates of $67.34 million. Blueprint Medicines had a negative net margin of 102.15% and a negative return on equity of 215.07%. Blueprint Medicines's revenue was up 85.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($2.65) EPS. As a group, equities analysts predict that Blueprint Medicines Co. will post -5.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Michael Landsittel sold 5,000 shares of Blueprint Medicines stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $95.00, for a total transaction of $475,000.00. Following the transaction, the chief financial officer now directly owns 47,286 shares in the company, valued at approximately $4,492,170. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Michael Landsittel sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $95.00, for a total value of $475,000.00. Following the sale, the chief financial officer now directly owns 47,286 shares in the company, valued at approximately $4,492,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider L. Becker Hewes sold 3,097 shares of the firm's stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $90.69, for a total transaction of $280,866.93. Following the sale, the insider now owns 46,281 shares of the company's stock, valued at $4,197,223.89. The disclosure for this sale can be found here. Insiders sold 92,289 shares of company stock worth $8,314,163 over the last ninety days. Company insiders own 3.88% of the company's stock.

Analysts Set New Price Targets

BPMC has been the topic of several analyst reports. Wedbush reiterated an "outperform" rating and set a $110.00 target price on shares of Blueprint Medicines in a report on Friday, April 26th. Citigroup boosted their target price on shares of Blueprint Medicines from $65.00 to $76.00 and gave the stock a "sell" rating in a research report on Friday. Piper Sandler raised their price target on shares of Blueprint Medicines from $78.00 to $104.00 and gave the company a "neutral" rating in a report on Friday. HC Wainwright boosted their price objective on shares of Blueprint Medicines from $125.00 to $135.00 and gave the stock a "buy" rating in a report on Friday. Finally, JMP Securities raised their target price on Blueprint Medicines from $114.00 to $125.00 and gave the company a "market outperform" rating in a research note on Friday. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Blueprint Medicines currently has an average rating of "Hold" and a consensus target price of $94.87.

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.