Granite Investment Partners LLC Invests $2.03 Million in Blueprint Medicines Co. (NASDAQ:BPMC)

Granite Investment Partners LLC purchased a new stake in Blueprint Medicines Co. (NASDAQ:BPMC) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 23,255 shares of the biotechnology company’s stock, valued at approximately $2,028,000.

Several other institutional investors have also made changes to their positions in BPMC. Covestor Ltd raised its holdings in Blueprint Medicines by 62.7% in the 4th quarter. Covestor Ltd now owns 973 shares of the biotechnology company’s stock valued at $85,000 after acquiring an additional 375 shares in the last quarter. Kennedy Capital Management LLC increased its position in shares of Blueprint Medicines by 19.6% in the fourth quarter. Kennedy Capital Management LLC now owns 4,564 shares of the biotechnology company’s stock worth $398,000 after purchasing an additional 748 shares during the period. F M Investments LLC acquired a new position in Blueprint Medicines in the fourth quarter valued at about $2,731,000. Raymond James Financial Inc. bought a new stake in Blueprint Medicines during the fourth quarter worth about $21,104,000. Finally, Martingale Asset Management L P grew its stake in Blueprint Medicines by 2.5% during the fourth quarter. Martingale Asset Management L P now owns 15,993 shares of the biotechnology company’s stock worth $1,395,000 after buying an additional 390 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BPMC shares. HC Wainwright restated a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a research report on Friday, February 14th. Scotiabank initiated coverage on Blueprint Medicines in a research note on Friday, March 7th. They set a “sector outperform” rating and a $150.00 target price for the company. StockNews.com lowered Blueprint Medicines from a “hold” rating to a “sell” rating in a research note on Monday, March 3rd. Stephens restated an “overweight” rating and set a $140.00 price objective on shares of Blueprint Medicines in a research report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. raised their price objective on Blueprint Medicines from $126.00 to $129.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.95.

Insider Activity

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $95.02, for a total value of $216,075.48. Following the transaction, the chief operating officer now directly owns 69,266 shares of the company’s stock, valued at approximately $6,581,655.32. The trade was a 3.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey W. Albers sold 15,161 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $109.53, for a total transaction of $1,660,584.33. Following the sale, the director now directly owns 152,396 shares of the company’s stock, valued at approximately $16,691,933.88. This trade represents a 9.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,358 shares of company stock valued at $2,583,187. 4.21% of the stock is currently owned by insiders.

Blueprint Medicines Stock Up 0.7 %

Shares of BPMC opened at $80.84 on Monday. The stock’s 50-day moving average price is $90.91 and its two-hundred day moving average price is $93.54. Blueprint Medicines Co. has a 12 month low of $73.04 and a 12 month high of $121.90. The company has a market capitalization of $5.17 billion, a PE ratio of -74.85 and a beta of 0.75. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. On average, analysts anticipate that Blueprint Medicines Co. will post -1.28 EPS for the current year.

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.