Rock Springs Capital Management LP Raises Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Rock Springs Capital Management LP grew its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 42.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,096,899 shares of the biotechnology company's stock after acquiring an additional 328,123 shares during the period. Blueprint Medicines comprises about 3.6% of Rock Springs Capital Management LP's holdings, making the stock its 5th biggest position. Rock Springs Capital Management LP owned about 1.73% of Blueprint Medicines worth $95,672,000 at the end of the most recent reporting period.

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

Blueprint Medicines Stock Up 1.8 %

Blueprint Medicines stock traded up $1.57 during midday trading on Friday, hitting $87.66. The stock had a trading volume of 679,412 shares, compared to its average volume of 769,836. 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 business has a fifty day moving average price of $87.57 and a 200 day moving average price of $93.10. Blueprint Medicines Co. has a 12 month low of $73.04 and a 12 month high of $121.90. The stock has a market cap of $5.60 billion, a P/E ratio of -81.17 and a beta of 0.75.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on BPMC shares. Scotiabank initiated coverage on shares of Blueprint Medicines in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $150.00 target price for the company. StockNews.com cut shares of Blueprint Medicines from a "hold" rating to a "sell" rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. lifted their price objective on Blueprint Medicines from $126.00 to $129.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Jefferies Financial Group assumed coverage on Blueprint Medicines in a research note on Monday, March 17th. They issued a "buy" rating and a $135.00 price target on the stock. Finally, JMP Securities reissued a "market outperform" rating and issued a $125.00 target price on shares of Blueprint Medicines in a research report on Friday, February 14th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Blueprint Medicines has an average rating of "Moderate Buy" and a consensus target price of $124.95.

Insider Transactions at Blueprint Medicines

In related news, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $95.02, for a total value of $216,075.48. Following the sale, the chief operating officer now directly owns 69,266 shares in the company, valued at $6,581,655.32. This trade represents a 3.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ariel Hurley sold 3,203 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was 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 owns 18,270 shares of the company's stock, valued at approximately $1,692,167.40. This trade represents a 14.92 % decrease in their position. The disclosure for this sale can be found here. 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.