Rafferty Asset Management LLC Has $7.75 Million Stock Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Rafferty Asset Management LLC lessened its position in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 24.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 88,891 shares of the biotechnology company's stock after selling 28,133 shares during the period. Rafferty Asset Management LLC owned approximately 0.14% of Blueprint Medicines worth $7,753,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Cerity Partners LLC acquired a new stake in shares of Blueprint Medicines in the fourth quarter valued at approximately $291,000. Empirical Asset Management LLC bought a new position in Blueprint Medicines in the 4th quarter worth approximately $2,348,000. Stephens Inc. AR acquired a new stake in Blueprint Medicines in the 4th quarter valued at approximately $321,000. Bank of New York Mellon Corp raised its stake in Blueprint Medicines by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 303,432 shares of the biotechnology company's stock valued at $26,465,000 after acquiring an additional 7,101 shares in the last quarter. Finally, KBC Group NV boosted its position in Blueprint Medicines by 63.9% during the 4th quarter. KBC Group NV now owns 2,625 shares of the biotechnology company's stock worth $229,000 after acquiring an additional 1,023 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. 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. Needham & Company LLC dropped their price target on shares of Blueprint Medicines from $133.00 to $130.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Morgan Stanley initiated coverage on shares of Blueprint Medicines in a report on Thursday, March 20th. They issued an "equal weight" rating and a $100.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on Blueprint Medicines from $126.00 to $129.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Finally, Jefferies Financial Group assumed coverage on Blueprint Medicines in a research report on Monday, March 17th. They issued a "buy" rating and a $135.00 target price for the company. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Blueprint Medicines presently has a consensus rating of "Moderate Buy" and a consensus price target of $126.56.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, 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 in the company, valued at approximately $6,816,436. The trade was a 3.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ariel Hurley sold 3,203 shares of the business's stock in a transaction on 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 directly owns 18,270 shares in the company, valued at approximately $1,692,167.40. This trade represents a 14.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,777 shares of company stock valued at $1,256,490. 4.21% of the stock is currently owned by corporate insiders.

Blueprint Medicines Price Performance

Shares of BPMC traded down $1.49 during trading hours on Wednesday, hitting $101.51. 489,733 shares of the company were exchanged, compared to its average volume of 780,275. 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 company has a market capitalization of $6.56 billion, a PE ratio of -93.99 and a beta of 0.83. The firm has a fifty day simple moving average of $90.13 and a 200-day simple moving average of $94.53. Blueprint Medicines Co. has a one year low of $73.04 and a one year high of $121.90.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its 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 analysts' expectations of $158.31 million. Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. The company's revenue for the quarter was up 55.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.40 earnings per share. As a group, sell-side analysts predict that Blueprint Medicines Co. will post -1.28 earnings per share for the current year.

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.