Blueprint Medicines Co. (NASDAQ:BPMC) Stake Increased by Hood River Capital Management LLC

Hood River Capital Management LLC increased its position in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 30.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 879,932 shares of the biotechnology company's stock after acquiring an additional 207,496 shares during the period. Hood River Capital Management LLC owned approximately 1.39% of Blueprint Medicines worth $76,748,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BPMC. Empirical Asset Management LLC purchased a new stake in shares of Blueprint Medicines in the 4th quarter worth about $2,348,000. Cerity Partners LLC purchased a new stake in shares of Blueprint Medicines in the fourth quarter valued at about $291,000. Stephens Inc. AR acquired a new stake in shares of Blueprint Medicines in the fourth quarter valued at approximately $321,000. Bank of New York Mellon Corp increased its stake in shares of 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 worth $26,465,000 after purchasing an additional 7,101 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of 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 purchasing an additional 1,023 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on BPMC shares. Stephens reiterated an "overweight" rating and set a $140.00 target price on shares of Blueprint Medicines in a report on Thursday, January 2nd. Scotiabank started coverage on Blueprint Medicines in a research note on Friday, March 7th. They set a "sector outperform" rating and a $150.00 price objective on the stock. Needham & Company LLC cut their target price on shares of Blueprint Medicines from $133.00 to $130.00 and set a "buy" rating for the company in a research note on Monday. Wolfe Research initiated coverage on shares of Blueprint Medicines in a report on Tuesday, March 18th. They issued an "outperform" rating on the stock. Finally, HC Wainwright reiterated a "buy" rating and set a $135.00 price target on shares of Blueprint Medicines in a report on Friday, February 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Blueprint Medicines presently has a consensus rating of "Moderate Buy" and an average target price of $124.53.

Insider Activity at Blueprint Medicines

In related news, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction on Monday, March 24th. The shares were sold at an average price of $95.02, for a total transaction of $216,075.48. Following the sale, the chief operating officer now owns 69,266 shares of the company's stock, valued at $6,581,655.32. The trade was a 3.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ariel Hurley sold 3,203 shares of the company's 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 completion of the transaction, the insider now directly 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.21% of the company's stock.

Blueprint Medicines Trading Down 0.4 %

BPMC stock traded down $0.38 during midday trading on Monday, reaching $87.28. 332,943 shares of the company's stock traded hands, compared to its average volume of 768,329. Blueprint Medicines Co. has a fifty-two week low of $73.04 and a fifty-two week high of $121.90. The business has a 50-day moving average price of $87.57 and a two-hundred day moving average price of $93.18. The company has a market capitalization of $5.58 billion, a P/E ratio of -80.74 and a beta of 0.75. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. Equities research analysts forecast that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal 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.