Avoro Capital Advisors LLC Takes Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Avoro Capital Advisors LLC acquired a new stake in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 1,185,000 shares of the biotechnology company's stock, valued at approximately $103,356,000. Blueprint Medicines comprises approximately 1.5% of Avoro Capital Advisors LLC's holdings, making the stock its 17th largest holding. Avoro Capital Advisors LLC owned about 1.87% of Blueprint Medicines as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

BPMC has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $133.00 price objective on shares of Blueprint Medicines in a research note on Tuesday, April 8th. Wolfe Research assumed coverage on Blueprint Medicines in a research note on Tuesday, March 18th. They set an "outperform" rating for the company. Morgan Stanley initiated coverage on Blueprint Medicines in a research note on Thursday, March 20th. They issued an "equal weight" rating and a $100.00 target price on the stock. JMP Securities restated a "market outperform" rating and set a $125.00 target price on shares of Blueprint Medicines in a report on Friday, February 14th. Finally, Stephens reaffirmed an "overweight" rating and issued a $140.00 price target on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Blueprint Medicines presently has a consensus rating of "Moderate Buy" and an average target price of $124.95.

Blueprint Medicines Stock Up 1.8 %

NASDAQ:BPMC traded up $1.57 during trading hours on Friday, reaching $87.66. 679,412 shares of the stock were exchanged, compared to its average volume of 769,777. 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 Co. has a twelve month low of $73.04 and a twelve month high of $121.90. The stock has a market cap of $5.60 billion, a PE ratio of -81.17 and a beta of 0.75. The firm has a 50 day moving average of $87.67 and a 200 day moving average of $93.10.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($0.79) EPS for the quarter, missing analysts' consensus estimates 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%. On average, equities analysts expect that Blueprint Medicines Co. will post -1.28 earnings per share for the current year.

Insider Buying and Selling at Blueprint Medicines

In other news, COO Christina Rossi sold 2,274 shares of the business's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $95.02, for a total transaction of $216,075.48. Following the transaction, the chief operating officer now directly owns 69,266 shares in the company, valued at $6,581,655.32. The trade was a 3.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ariel Hurley sold 3,203 shares of the firm'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 sale, the insider now owns 18,270 shares of the company's stock, valued at $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. Corporate insiders own 4.21% of the company's stock.

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.