Ieq Capital LLC Invests $886,000 in Blueprint Medicines Co. (NASDAQ:BPMC)

Ieq Capital LLC purchased a new stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC) during the 4th quarter, Holdings Channel reports. The fund purchased 10,163 shares of the biotechnology company’s stock, valued at approximately $886,000.

A number of other institutional investors also recently bought and sold shares of BPMC. Wellington Management Group LLP raised its stake in shares of Blueprint Medicines by 22.5% in the third quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company’s stock valued at $366,726,000 after acquiring an additional 729,055 shares during the period. State Street Corp grew its holdings in Blueprint Medicines by 16.2% during the 3rd quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock valued at $255,827,000 after purchasing an additional 385,818 shares during the last quarter. Geode Capital Management LLC raised its position in Blueprint Medicines by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,480,187 shares of the biotechnology company’s stock worth $136,942,000 after purchasing an additional 20,703 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Blueprint Medicines by 9.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 597,232 shares of the biotechnology company’s stock worth $55,244,000 after purchasing an additional 50,736 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Blueprint Medicines by 161.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 496,087 shares of the biotechnology company’s stock valued at $45,888,000 after buying an additional 306,079 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BPMC shares. Needham & Company LLC reissued a “buy” rating and set a $133.00 price target on shares of Blueprint Medicines in a research note on Thursday, February 13th. Wells Fargo & Company decreased their target price on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. JPMorgan Chase & Co. upped their price target on shares of Blueprint Medicines from $126.00 to $129.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Stephens reiterated an “overweight” rating and set a $140.00 price objective on shares of Blueprint Medicines in a report on Thursday, January 2nd. Finally, StockNews.com raised shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $123.83.

Insider Activity

In other news, insider Ariel Hurley sold 1,819 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $93.26, for a total transaction of $169,639.94. Following the transaction, the insider now owns 14,967 shares in the company, valued at $1,395,822.42. This represents a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kate Haviland sold 1,446 shares of Blueprint Medicines stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total transaction of $159,407.04. Following the completion of the sale, the chief executive officer now owns 149,378 shares of the company’s stock, valued at $16,467,430.72. This trade represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,577 shares of company stock worth $4,768,439. Insiders own 4.21% of the company’s stock.

Blueprint Medicines Trading Down 1.2 %

BPMC opened at $91.33 on Wednesday. Blueprint Medicines Co. has a 12 month low of $80.68 and a 12 month high of $121.90. The stock has a fifty day moving average price of $99.38 and a 200-day moving average price of $94.42. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of -84.56 and a beta of 0.61. 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 released its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) 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%. As a group, equities research analysts anticipate that Blueprint Medicines Co. will post -1.28 earnings per share for the current fiscal 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.