Magnetar Financial LLC Acquires Shares of 3,084 Blueprint Medicines Co. (NASDAQ:BPMC)

Magnetar Financial LLC bought a new stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,084 shares of the biotechnology company's stock, valued at approximately $269,000.

A number of other hedge funds have also recently bought and sold shares of BPMC. Torray Investment Partners LLC boosted its position in shares of Blueprint Medicines by 1.1% during the 4th quarter. Torray Investment Partners LLC now owns 16,499 shares of the biotechnology company's stock valued at $1,439,000 after purchasing an additional 186 shares in the last quarter. Franklin Resources Inc. lifted its stake in Blueprint Medicines by 0.7% during the third quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company's stock valued at $3,259,000 after purchasing an additional 265 shares during the last quarter. Quarry LP bought a new stake in Blueprint Medicines during the third quarter worth approximately $32,000. Van ECK Associates Corp grew its position in Blueprint Medicines by 48.2% in the fourth quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company's stock worth $97,000 after buying an additional 363 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Blueprint Medicines by 31.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,650 shares of the biotechnology company's stock valued at $144,000 after buying an additional 399 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on BPMC shares. Morgan Stanley initiated coverage on Blueprint Medicines in a research note on Thursday, March 20th. They set an "equal weight" rating and a $100.00 price objective for the company. Needham & Company LLC restated a "buy" rating and set a $133.00 price objective on shares of Blueprint Medicines in a report on Thursday, February 13th. Wolfe Research began coverage on shares of Blueprint Medicines in a report on Tuesday, March 18th. They issued an "outperform" rating for the company. Piper Sandler boosted their price target on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a "neutral" rating in a report on Monday, January 27th. Finally, Guggenheim reiterated a "buy" rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Blueprint Medicines has a consensus rating of "Moderate Buy" and an average target price of $124.95.

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Blueprint Medicines Stock Performance

Blueprint Medicines stock traded down $0.99 during trading hours on Thursday, reaching $89.73. 651,991 shares of the company were exchanged, compared to its average volume of 712,419. Blueprint Medicines Co. has a 12 month low of $80.68 and a 12 month high of $121.90. The firm has a market cap of $5.73 billion, a price-to-earnings ratio of -83.08 and a beta of 0.58. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. The stock has a 50-day moving average of $98.84 and a 200 day moving average of $93.95.

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

Insider Buying and Selling

In other news, CEO Kate Haviland sold 1,446 shares of Blueprint Medicines stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total transaction of $159,407.04. Following the sale, the chief executive officer now owns 149,378 shares of the company's stock, valued at approximately $16,467,430.72. This trade represents a 0.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ariel Hurley sold 2,250 shares of the company's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $100.00, for a total value of $225,000.00. Following the completion of the transaction, the insider now owns 14,967 shares of the company's stock, valued at $1,496,700. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,608 shares of company stock valued at $3,319,587. 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.