Blueprint Medicines Co. (NASDAQ:BPMC) Shares Purchased by Zimmer Partners LP

Zimmer Partners LP boosted its stake in Blueprint Medicines Co. (NASDAQ:BPMC) by 59.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,650 shares of the biotechnology company’s stock after buying an additional 12,550 shares during the quarter. Zimmer Partners LP owned approximately 0.05% of Blueprint Medicines worth $2,935,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BPMC. Avoro Capital Advisors LLC acquired a new position in shares of Blueprint Medicines during the fourth quarter valued at approximately $103,356,000. Norges Bank purchased a new stake in shares of Blueprint Medicines during the fourth quarter worth approximately $62,028,000. Jennison Associates LLC acquired a new position in Blueprint Medicines in the 4th quarter valued at $31,417,000. Rock Springs Capital Management LP lifted its holdings in Blueprint Medicines by 42.7% in the 4th quarter. Rock Springs Capital Management LP now owns 1,096,899 shares of the biotechnology company’s stock valued at $95,672,000 after purchasing an additional 328,123 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Blueprint Medicines by 8.0% during the 4th quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company’s stock worth $373,421,000 after purchasing an additional 316,754 shares during the last quarter.

Blueprint Medicines Trading Up 1.8%

NASDAQ BPMC opened at $103.00 on Wednesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80. The stock has a market capitalization of $6.65 billion, a P/E ratio of -95.37 and a beta of 0.83. The firm’s 50-day moving average is $90.13 and its two-hundred day moving average is $94.53. Blueprint Medicines Co. has a 12 month low of $73.04 and a 12 month high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Thursday, May 1st. The biotechnology company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.32). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. The company had revenue of $149.41 million during the quarter, compared to analyst estimates of $158.31 million. During the same quarter in the prior year, the company posted $1.40 earnings per share. The business’s revenue was up 55.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Blueprint Medicines Co. will post -1.28 earnings per share for the current year.

Insider Activity at Blueprint Medicines

In related news, insider Ariel Hurley sold 3,203 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.62, for a total transaction of $296,661.86. Following the completion of the transaction, the insider now directly owns 18,270 shares in the company, valued at $1,692,167.40. This trade represents a 14.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Christina Rossi sold 2,274 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $101.75, for a total transaction of $231,379.50. Following the sale, the chief operating officer now directly owns 66,992 shares in the company, valued at $6,816,436. This represents a 3.28% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,503 shares of company stock worth $1,027,931. 4.21% of the stock is currently owned by company insiders.

Analyst Ratings Changes

BPMC has been the subject of a number of recent research reports. Piper Sandler increased their target price on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. HC Wainwright reiterated a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, May 2nd. Needham & Company LLC decreased their target price on shares of Blueprint Medicines from $133.00 to $130.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. Wolfe Research started coverage on Blueprint Medicines in a report on Tuesday, March 18th. They set an “outperform” rating on the stock. Finally, Wedbush reaffirmed an “outperform” rating and issued a $128.00 price target on shares of Blueprint Medicines in a report on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Blueprint Medicines presently has an average rating of “Moderate Buy” and a consensus price target of $126.56.

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.