1,185,000 Shares in Blueprint Medicines Co. (NASDAQ:BPMC) Bought by Avoro Capital Advisors LLC

Avoro Capital Advisors LLC acquired a new stake in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 1,185,000 shares of the biotechnology company's stock, valued at approximately $103,356,000. Blueprint Medicines makes up approximately 1.5% of Avoro Capital Advisors LLC's investment portfolio, making the stock its 17th largest position. Avoro Capital Advisors LLC owned approximately 1.87% of Blueprint Medicines as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Empirical Asset Management LLC bought a new position in shares of Blueprint Medicines during the fourth quarter valued at about $2,348,000. Cerity Partners LLC purchased a new position in Blueprint Medicines in the 4th quarter worth approximately $291,000. Stephens Inc. AR bought a new stake in Blueprint Medicines in the fourth quarter valued at approximately $321,000. Bank of New York Mellon Corp grew its holdings in shares of Blueprint Medicines by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 303,432 shares of the biotechnology company's stock worth $26,465,000 after purchasing an additional 7,101 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of Blueprint Medicines by 63.9% in the fourth quarter. KBC Group NV now owns 2,625 shares of the biotechnology company's stock worth $229,000 after buying an additional 1,023 shares during the period.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BPMC. Morgan Stanley initiated coverage on shares of Blueprint Medicines in a research report on Thursday, March 20th. They issued an "equal weight" rating and a $100.00 price objective on the stock. Stephens reaffirmed an "overweight" rating and set a $140.00 price target on shares of Blueprint Medicines in a research report on Thursday, January 2nd. StockNews.com lowered Blueprint Medicines from a "hold" rating to a "sell" rating in a research report on Monday, March 3rd. JMP Securities restated a "market outperform" rating and set a $125.00 target price on shares of Blueprint Medicines in a report on Friday, February 14th. Finally, Wedbush reiterated an "outperform" rating and issued a $128.00 price target on shares of Blueprint Medicines in a report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $124.95.

Blueprint Medicines Stock Up 1.8 %

Shares of BPMC traded up $1.57 on Friday, hitting $87.66. 679,412 shares of the stock traded hands, compared to its average volume of 769,836. The company has a market capitalization of $5.60 billion, a PE ratio of -81.17 and a beta of 0.75. Blueprint Medicines Co. has a one year low of $73.04 and a one year high of $121.90. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85. The business has a 50 day simple moving average of $87.57 and a 200 day simple moving average of $93.10.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share 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 analysts forecast that Blueprint Medicines Co. will post -1.28 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Christina Rossi sold 2,274 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $95.02, for a total value of $216,075.48. Following the transaction, the chief operating officer now directly owns 69,266 shares of the company's stock, valued at approximately $6,581,655.32. This trade represents a 3.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ariel Hurley sold 3,203 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.62, for a total value of $296,661.86. Following the completion of the sale, the insider now owns 18,270 shares of the company's stock, valued at approximately $1,692,167.40. The trade was a 14.92 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.21% of the company's stock.

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.