Pictet Asset Management Holding SA Boosts Stake in Blueprint Medicines Co. (NASDAQ:BPMC)

Pictet Asset Management Holding SA increased its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 1.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,183,682 shares of the biotechnology company’s stock after buying an additional 17,175 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Blueprint Medicines were worth $103,241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Blueprint Medicines during the fourth quarter valued at approximately $62,028,000. BIT Capital GmbH raised its position in Blueprint Medicines by 4.4% during the 4th quarter. BIT Capital GmbH now owns 78,921 shares of the biotechnology company’s stock valued at $6,883,000 after purchasing an additional 3,347 shares during the last quarter. EFG Asset Management North America Corp. lifted its holdings in Blueprint Medicines by 120.5% in the 4th quarter. EFG Asset Management North America Corp. now owns 74,300 shares of the biotechnology company’s stock worth $6,477,000 after buying an additional 40,611 shares during the period. Prudential Financial Inc. grew its position in shares of Blueprint Medicines by 11.9% in the 4th quarter. Prudential Financial Inc. now owns 100,538 shares of the biotechnology company’s stock worth $8,769,000 after buying an additional 10,687 shares during the last quarter. Finally, Emerald Advisers LLC grew its position in shares of Blueprint Medicines by 10.9% in the 4th quarter. Emerald Advisers LLC now owns 416,866 shares of the biotechnology company’s stock worth $36,359,000 after buying an additional 41,000 shares during the last quarter.

Blueprint Medicines Trading Down 1.1 %

Shares of NASDAQ:BPMC opened at $88.72 on Friday. Blueprint Medicines Co. has a 1 year low of $80.68 and a 1 year high of $121.90. The stock’s fifty day moving average price is $98.13 and its 200-day moving average price is $93.93. The company has a market cap of $5.67 billion, a P/E ratio of -82.15 and a beta of 0.58. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80.

Blueprint Medicines (NASDAQ:BPMC) last posted its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. Sell-side analysts expect that Blueprint Medicines Co. will post -1.28 earnings per share for the current year.

Analyst Ratings Changes

BPMC has been the subject of several research analyst reports. StockNews.com cut shares of Blueprint Medicines from a “hold” rating to a “sell” rating in a research report on Monday, March 3rd. HC Wainwright restated a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, February 14th. JPMorgan Chase & Co. upped their target price on Blueprint Medicines from $126.00 to $129.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Jefferies Financial Group initiated coverage on Blueprint Medicines in a research note on Monday, March 17th. They issued a “buy” rating and a $135.00 target price for the company. Finally, Wolfe Research assumed coverage on Blueprint Medicines in a research note on Tuesday, March 18th. They issued an “outperform” rating on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Blueprint Medicines has an average rating of “Moderate Buy” and an average price target of $124.95.

Insider Activity at Blueprint Medicines

In related news, insider Ariel Hurley sold 2,250 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $100.00, for a total transaction of $225,000.00. Following the completion of the sale, the insider now owns 14,967 shares in the company, valued at approximately $1,496,700. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kate Haviland sold 1,446 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total value of $159,407.04. Following the completion of the transaction, the chief executive officer now directly owns 149,378 shares in the company, valued at $16,467,430.72. The trade was a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,608 shares of company stock worth $3,319,587 over the last quarter. Company insiders own 4.21% of the company’s stock.

About Blueprint Medicines

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.