F M Investments LLC Makes New Investment in Blueprint Medicines Co. (NASDAQ:BPMC)

F M Investments LLC bought a new stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 31,313 shares of the biotechnology company’s stock, valued at approximately $2,731,000.

A number of other hedge funds have also recently modified their holdings of the business. Raymond James Financial Inc. purchased a new position in Blueprint Medicines during the fourth quarter valued at approximately $21,104,000. Martingale Asset Management L P increased its holdings in shares of Blueprint Medicines by 2.5% in the fourth quarter. Martingale Asset Management L P now owns 15,993 shares of the biotechnology company’s stock worth $1,395,000 after purchasing an additional 390 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Blueprint Medicines by 6.7% during the 4th quarter. Invesco Ltd. now owns 960,437 shares of the biotechnology company’s stock worth $83,769,000 after acquiring an additional 60,081 shares in the last quarter. Cerity Partners LLC purchased a new stake in Blueprint Medicines during the fourth quarter valued at $291,000. Finally, Federated Hermes Inc. lifted its holdings in shares of Blueprint Medicines by 1.9% in the 4th quarter. Federated Hermes Inc. now owns 156,284 shares of the biotechnology company’s stock valued at $13,631,000 after acquiring an additional 2,983 shares during the last quarter.

Blueprint Medicines Stock Performance

Shares of Blueprint Medicines stock opened at $80.27 on Friday. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. The firm has a market cap of $5.13 billion, a P/E ratio of -74.32 and a beta of 0.75. The stock’s fifty day moving average price is $91.56 and its 200-day moving average price is $93.55. Blueprint Medicines Co. has a 12 month low of $73.04 and a 12 month high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. On average, equities research analysts expect that Blueprint Medicines Co. will post -1.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Ariel Hurley sold 3,203 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.62, for a total value of $296,661.86. Following the completion of the transaction, the insider now owns 18,270 shares of the company’s stock, valued at $1,692,167.40. The trade was a 14.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Christina Rossi sold 2,274 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $95.02, for a total value of $216,075.48. Following the sale, the chief operating officer now directly owns 69,266 shares in the company, valued at approximately $6,581,655.32. This trade represents a 3.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,608 shares of company stock valued at $3,319,587 over the last quarter. 4.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BPMC shares. Jefferies Financial Group started coverage on Blueprint Medicines in a research report on Monday, March 17th. They set a “buy” rating and a $135.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and set a $133.00 price objective on shares of Blueprint Medicines in a research report on Tuesday. Scotiabank began coverage on shares of Blueprint Medicines in a report on Friday, March 7th. They issued a “sector outperform” rating and a $150.00 target price for the company. Morgan Stanley assumed coverage on shares of Blueprint Medicines in a research note on Thursday, March 20th. They set an “equal weight” rating and a $100.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price objective on shares of Blueprint Medicines from $126.00 to $129.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $124.95.

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.