Hood River Capital Management LLC Acquires 207,496 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Hood River Capital Management LLC grew its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 30.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 879,932 shares of the biotechnology company's stock after buying an additional 207,496 shares during the period. Hood River Capital Management LLC owned 1.39% of Blueprint Medicines worth $76,748,000 as of its most recent SEC filing.

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

Insider Transactions at Blueprint Medicines

In other news, insider Ariel Hurley sold 3,203 shares of the business's stock in a transaction that occurred on 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 sale, the insider now owns 18,270 shares in the company, valued at $1,692,167.40. The trade was a 14.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 value of $216,075.48. Following the completion of the transaction, the chief operating officer now directly owns 69,266 shares of the company's stock, valued at $6,581,655.32. This represents a 3.18 % 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.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BPMC shares. JPMorgan Chase & Co. boosted their price target on Blueprint Medicines from $126.00 to $129.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Piper Sandler raised their price target on Blueprint Medicines from $109.00 to $119.00 and gave the company a "neutral" rating in a report on Monday, January 27th. Scotiabank assumed coverage on Blueprint Medicines in a research report on Friday, March 7th. They set a "sector outperform" rating and a $150.00 target price for the company. HC Wainwright reiterated a "buy" rating and set a $135.00 price objective on shares of Blueprint Medicines in a research report on Friday, February 14th. Finally, Wedbush reaffirmed an "outperform" rating and set a $128.00 target price on shares of Blueprint Medicines in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $124.95.

Blueprint Medicines Trading Down 0.9 %

Shares of NASDAQ:BPMC opened at $83.41 on Wednesday. Blueprint Medicines Co. has a 52-week low of $73.04 and a 52-week high of $121.90. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85. The company has a market cap of $5.33 billion, a P/E ratio of -77.23 and a beta of 0.75. The stock's 50-day moving average is $87.99 and its 200-day moving average is $93.17.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 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.

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