EFG Asset Management North America Corp. Boosts Position in Blueprint Medicines Co. (NASDAQ:BPMC)

EFG Asset Management North America Corp. grew its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 120.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,300 shares of the biotechnology company’s stock after buying an additional 40,611 shares during the quarter. Blueprint Medicines accounts for approximately 0.9% of EFG Asset Management North America Corp.’s holdings, making the stock its 20th biggest holding. EFG Asset Management North America Corp. owned 0.12% of Blueprint Medicines worth $6,477,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Prudential Financial Inc. raised its position in Blueprint Medicines by 11.9% during the fourth quarter. Prudential Financial Inc. now owns 100,538 shares of the biotechnology company’s stock worth $8,769,000 after acquiring an additional 10,687 shares during the last quarter. Emerald Advisers LLC increased its stake in shares of Blueprint Medicines by 10.9% during the 4th quarter. Emerald Advisers LLC now owns 416,866 shares of the biotechnology company’s stock worth $36,359,000 after purchasing an additional 41,000 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Blueprint Medicines by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 6,774,884 shares of the biotechnology company’s stock worth $590,905,000 after purchasing an additional 91,450 shares during the last quarter. Fox Run Management L.L.C. lifted its stake in Blueprint Medicines by 262.7% in the 4th quarter. Fox Run Management L.L.C. now owns 10,264 shares of the biotechnology company’s stock valued at $895,000 after buying an additional 7,434 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Blueprint Medicines during the 4th quarter valued at $1,125,000.

Wall Street Analyst Weigh In

BPMC has been the topic of several recent research reports. Guggenheim restated a “buy” rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. Piper Sandler raised their price target on shares of Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Jefferies Financial Group started coverage on shares of Blueprint Medicines in a research report on Monday, March 17th. They issued a “buy” rating and a $135.00 price objective for the company. JMP Securities restated a “market outperform” rating and set a $125.00 target price on shares of Blueprint Medicines in a research report on Friday, February 14th. Finally, Scotiabank initiated coverage on shares of Blueprint Medicines in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $150.00 target price for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $124.95.

Blueprint Medicines Price Performance

BPMC stock opened at $95.27 on Tuesday. The firm has a market cap of $6.09 billion, a P/E ratio of -88.21 and a beta of 0.58. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85. Blueprint Medicines Co. has a 1 year low of $80.68 and a 1 year high of $121.90. The stock has a 50-day simple moving average of $99.31 and a 200-day simple moving average of $93.92.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data 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 analysts predict that Blueprint Medicines Co. will post -1.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Kate Haviland sold 1,446 shares of the business’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 transaction, the chief executive officer now owns 149,378 shares in the company, valued at approximately $16,467,430.72. The trade was a 0.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Christina Rossi sold 2,274 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $110.14, for a total value of $250,458.36. Following the sale, the chief operating officer now owns 67,109 shares of the company’s stock, valued at approximately $7,391,385.26. This trade represents a 3.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,334 shares of company stock worth $3,103,512 in the last quarter. 4.21% of the stock is owned by corporate insiders.

Blueprint Medicines Company Profile

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.