Zimmer Partners LP Has $2.94 Million Stock Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Zimmer Partners LP grew its position in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 59.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,650 shares of the biotechnology company's stock after acquiring an additional 12,550 shares during the quarter. Zimmer Partners LP owned 0.05% of Blueprint Medicines worth $2,935,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BPMC. R Squared Ltd acquired a new position in shares of Blueprint Medicines in the fourth quarter valued at $51,000. Headlands Technologies LLC acquired a new position in shares of Blueprint Medicines in the 4th quarter valued at $65,000. Thematics Asset Management acquired a new stake in shares of Blueprint Medicines during the 4th quarter valued at about $72,000. Covestor Ltd boosted its position in shares of Blueprint Medicines by 62.7% during the 4th quarter. Covestor Ltd now owns 973 shares of the biotechnology company's stock valued at $85,000 after acquiring an additional 375 shares in the last quarter. Finally, Asset Management One Co. Ltd. bought a new stake in Blueprint Medicines in the fourth quarter valued at about $88,000.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BPMC shares. Piper Sandler lifted their price objective on Blueprint Medicines from $109.00 to $119.00 and gave the company a "neutral" rating in a report on Monday, January 27th. Wall Street Zen raised Blueprint Medicines from a "sell" rating to a "hold" rating in a research note on Friday, May 2nd. HC Wainwright reiterated a "buy" rating and set a $135.00 price objective on shares of Blueprint Medicines in a research note on Friday, May 2nd. Wolfe Research began coverage on shares of Blueprint Medicines in a research note on Tuesday, March 18th. They issued an "outperform" rating on the stock. Finally, Wedbush reaffirmed an "outperform" rating and issued a $128.00 target price 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's stock. According to data from MarketBeat, Blueprint Medicines has a consensus rating of "Moderate Buy" and a consensus target price of $126.56.

Blueprint Medicines Trading Up 1.2%

BPMC stock traded up $1.16 during trading on Friday, hitting $101.50. The company had a trading volume of 353,347 shares, compared to its average volume of 779,890. The firm has a 50-day moving average price of $90.77 and a 200-day moving average price of $94.66. Blueprint Medicines Co. has a 12 month low of $73.04 and a 12 month high of $121.90. 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 cap of $6.56 billion, a price-to-earnings ratio of -93.98 and a beta of 0.83.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last released its earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.32). The firm 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 company's revenue was up 55.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.40 EPS. As a group, analysts predict that Blueprint Medicines Co. will post -1.28 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Ariel Hurley sold 2,752 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $103.13, for a total value of $283,813.76. Following the completion of the sale, the insider now owns 16,944 shares in the company, valued at approximately $1,747,434.72. This represents a 13.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Christina Rossi sold 2,274 shares of the firm's 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 transaction, the chief operating officer now owns 69,266 shares in the company, valued at approximately $6,581,655.32. This trade represents a 3.18% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 12,777 shares of company stock valued at $1,256,490. 4.21% of the stock is currently owned by insiders.

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.