Raymond James Financial Inc. Makes New Investment in Blueprint Medicines Co. (NASDAQ:BPMC)

Raymond James Financial Inc. acquired a new position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) during the fourth quarter, Holdings Channel reports. The fund acquired 241,966 shares of the biotechnology company’s stock, valued at approximately $21,104,000.

A number of other hedge funds have also recently bought and sold shares of BPMC. Quarry LP purchased a new position in shares of Blueprint Medicines in the 3rd quarter worth about $32,000. R Squared Ltd purchased a new position in shares of Blueprint Medicines in the 4th quarter worth about $51,000. Asset Management One Co. Ltd. purchased a new position in shares of Blueprint Medicines in the 4th quarter worth about $88,000. Van ECK Associates Corp boosted its holdings in shares of Blueprint Medicines by 48.2% in the 4th quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock worth $97,000 after buying an additional 363 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Blueprint Medicines in the 3rd quarter worth about $108,000.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BPMC shares. JMP Securities reissued a “market outperform” rating and issued a $125.00 price target on shares of Blueprint Medicines in a report on Friday, February 14th. JPMorgan Chase & Co. boosted 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. Guggenheim restated a “buy” rating on shares of Blueprint Medicines in a research note on Wednesday, December 11th. StockNews.com cut Blueprint Medicines from a “hold” rating to a “sell” rating in a research note on Monday, March 3rd. Finally, Stephens restated an “overweight” rating and issued a $140.00 price objective on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $125.21.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, insider Ariel Hurley sold 2,250 shares of Blueprint Medicines stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $100.00, for a total transaction of $225,000.00. Following the transaction, the insider now directly owns 14,967 shares of the company’s stock, valued at approximately $1,496,700. This trade represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey W. Albers sold 15,000 shares of Blueprint Medicines stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $89.77, for a total transaction of $1,346,550.00. Following the transaction, the director now directly owns 157,557 shares in the company, valued at $14,143,891.89. This trade represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,608 shares of company stock valued at $4,668,161 over the last three months. 4.21% of the stock is owned by corporate insiders.

Blueprint Medicines Trading Down 0.3 %

Shares of Blueprint Medicines stock opened at $89.58 on Monday. The company’s 50-day moving average price is $99.54 and its 200-day moving average price is $94.04. The company has a market cap of $5.72 billion, a price-to-earnings ratio of -82.94 and a beta of 0.58. 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 Co. has a 12-month low of $80.68 and a 12-month high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share 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 analysts expect 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.