Avoro Capital Advisors LLC Acquires New Shares in Blueprint Medicines Co. (NASDAQ:BPMC)

Avoro Capital Advisors LLC bought a new position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,185,000 shares of the biotechnology company’s stock, valued at approximately $103,356,000. Blueprint Medicines comprises about 1.5% of Avoro Capital Advisors LLC’s portfolio, making the stock its 17th biggest holding. Avoro Capital Advisors LLC owned about 1.87% of Blueprint Medicines at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BPMC. Vanguard Group Inc. increased 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. Wellington Management Group LLP increased its position in shares of Blueprint Medicines by 8.0% during the fourth quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company’s stock valued at $373,421,000 after acquiring an additional 316,754 shares during the last quarter. William Blair Investment Management LLC raised its stake in shares of Blueprint Medicines by 16.1% in the 4th quarter. William Blair Investment Management LLC now owns 1,944,695 shares of the biotechnology company’s stock valued at $169,616,000 after acquiring an additional 269,896 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Blueprint Medicines by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,490,101 shares of the biotechnology company’s stock worth $129,996,000 after acquiring an additional 9,914 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its holdings in Blueprint Medicines by 1.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,183,682 shares of the biotechnology company’s stock valued at $103,241,000 after purchasing an additional 17,175 shares during the last quarter.

Insider Activity

In related news, CEO Kate Haviland sold 1,446 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 149,378 shares of the company’s stock, valued at $16,467,430.72. This represents a 0.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Christina Rossi sold 2,274 shares of the firm’s stock in a transaction 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 completion of the sale, the chief operating officer now directly 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 a total of 24,358 shares of company stock valued at $2,583,187 over the last quarter. Corporate insiders own 4.21% of the company’s stock.

Blueprint Medicines Stock Performance

Shares of BPMC stock opened at $84.62 on Monday. Blueprint Medicines Co. has a 52-week low of $73.04 and a 52-week high of $121.90. The stock’s 50-day moving average price is $88.61 and its 200 day moving average price is $93.27. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $5.41 billion, a PE ratio of -78.35 and a beta of 0.75.

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 return on equity of 77.49% and a negative net margin of 13.19%. As a group, equities research analysts forecast that Blueprint Medicines Co. will post -1.28 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on BPMC shares. Scotiabank began coverage on shares of Blueprint Medicines in a report on Friday, March 7th. They issued a “sector outperform” rating and a $150.00 price objective for the company. Stephens reaffirmed an “overweight” rating and set a $140.00 price objective on shares of Blueprint Medicines in a research report on Thursday, January 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $133.00 target price on shares of Blueprint Medicines in a report on Tuesday, April 8th. Morgan Stanley started coverage on Blueprint Medicines in a report on Thursday, March 20th. They set an “equal weight” rating and a $100.00 price target on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a research report on Friday, February 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $124.95.

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.