Brevan Howard Capital Management LP Boosts Stake in Blueprint Medicines Co. (NASDAQ:BPMC)

Brevan Howard Capital Management LP raised its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 48.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,751 shares of the biotechnology company's stock after acquiring an additional 5,794 shares during the period. Brevan Howard Capital Management LP's holdings in Blueprint Medicines were worth $1,548,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in BPMC. R Squared Ltd purchased a new position in Blueprint Medicines in the fourth quarter worth $51,000. Headlands Technologies LLC acquired a new stake in shares of Blueprint Medicines during the fourth quarter worth $65,000. Thematics Asset Management acquired a new stake in Blueprint Medicines in the 4th quarter worth about $72,000. Covestor Ltd boosted its position in shares of 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 acquiring an additional 375 shares during the last quarter. Finally, Asset Management One Co. Ltd. purchased a new stake in shares of Blueprint Medicines during the 4th quarter valued at $88,000.

Insider Transactions at Blueprint Medicines

In other Blueprint Medicines news, insider Ariel Hurley sold 3,203 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.62, for a total transaction of $296,661.86. Following the sale, the insider now owns 18,270 shares of the company's stock, valued at $1,692,167.40. This represents a 14.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Christina Rossi sold 2,274 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $95.02, for a total value of $216,075.48. Following the completion of the sale, the chief operating officer now owns 69,266 shares of the company's stock, valued at $6,581,655.32. This trade represents a 3.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,503 shares of company stock worth $1,027,931 in the last 90 days. 4.21% of the stock is owned by insiders.

Blueprint Medicines Stock Performance

NASDAQ BPMC traded up $3.51 on Monday, hitting $100.68. 238,488 shares of the company's stock were exchanged, compared to its average volume of 778,612. The firm's 50-day moving average price is $88.49 and its two-hundred day moving average price is $93.88. 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 firm has a market cap of $6.50 billion, a price-to-earnings ratio of -93.24 and a beta of 0.83. Blueprint Medicines Co. has a fifty-two week low of $73.04 and a fifty-two week high of $121.90.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.32). The company had revenue of $149.41 million for the quarter, compared to the consensus estimate of $158.31 million. Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. The business's revenue for the quarter was up 55.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.40 EPS. On average, research analysts expect that Blueprint Medicines Co. will post -1.28 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wedbush restated an "outperform" rating and set a $128.00 price objective on shares of Blueprint Medicines in a research note on Thursday, May 1st. Wolfe Research began coverage on shares of Blueprint Medicines in a report on Tuesday, March 18th. They issued an "outperform" rating for the company. StockNews.com upgraded shares of Blueprint Medicines from a "sell" rating to a "hold" rating in a research report on Friday, May 2nd. JMP Securities reiterated a "market outperform" rating and set a $125.00 price objective on shares of Blueprint Medicines in a research note on Friday, February 14th. Finally, Piper Sandler upped their price objective on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. Five investment 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's stock. Based on data from MarketBeat, the stock has a consensus 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.