Balyasny Asset Management L.P. Purchases 48,736 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Balyasny Asset Management L.P. lifted its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 90.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 102,486 shares of the biotechnology company’s stock after buying an additional 48,736 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.16% of Blueprint Medicines worth $8,939,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. R Squared Ltd bought a new position in Blueprint Medicines during the 4th quarter worth about $51,000. Headlands Technologies LLC bought a new position in shares of Blueprint Medicines during the fourth quarter valued at approximately $65,000. Thematics Asset Management purchased a new position in Blueprint Medicines during the fourth quarter valued at approximately $72,000. Covestor Ltd raised its stake in Blueprint Medicines by 62.7% in the fourth quarter. Covestor Ltd now owns 973 shares of the biotechnology company’s stock worth $85,000 after buying an additional 375 shares in the last quarter. Finally, Asset Management One Co. Ltd. purchased a new stake in Blueprint Medicines during the fourth quarter worth $88,000.

Insider Transactions at Blueprint Medicines

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

Blueprint Medicines Stock Performance

BPMC opened at $97.74 on Friday. 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 $73.04 and a 12-month high of $121.90. The firm has a 50 day moving average of $88.49 and a two-hundred day moving average of $93.74. The firm has a market capitalization of $6.31 billion, a PE ratio of -90.50 and a beta of 0.83.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share (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 business had revenue of $149.41 million for the quarter, compared to analysts’ expectations of $158.31 million. During the same period last year, the business earned $1.40 EPS. The company’s revenue for the quarter was up 55.5% on a year-over-year basis. On average, analysts anticipate that Blueprint Medicines Co. will post -1.28 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. JMP Securities reissued a “market outperform” rating and issued a $125.00 price target on shares of Blueprint Medicines in a research report on Friday, February 14th. Scotiabank started coverage on shares of Blueprint Medicines in a report on Friday, March 7th. They issued a “sector outperform” rating and a $150.00 target price for the company. HC Wainwright restated a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a report on Friday, May 2nd. Wedbush reiterated an “outperform” rating and set a $128.00 price objective on shares of Blueprint Medicines in a research note on Thursday, May 1st. Finally, Morgan Stanley assumed coverage on shares of Blueprint Medicines in a research note on Thursday, March 20th. They issued an “equal weight” rating and a $100.00 target price for the company. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.56.

Blueprint Medicines 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.