Zimmer Partners LP Makes New Investment in Blueprint Medicines Co. (NASDAQ:BPMC)

Zimmer Partners LP acquired a new stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 21,100 shares of the biotechnology company's stock, valued at approximately $1,952,000.

Several other institutional investors have also added to or reduced their stakes in BPMC. Wellington Management Group LLP lifted its stake in shares of Blueprint Medicines by 22.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company's stock valued at $366,726,000 after purchasing an additional 729,055 shares during the period. Millennium Management LLC increased its position in shares of Blueprint Medicines by 540.0% during the second quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company's stock valued at $67,646,000 after acquiring an additional 529,566 shares in the last quarter. 1832 Asset Management L.P. increased its position in shares of Blueprint Medicines by 200,159.4% during the second quarter. 1832 Asset Management L.P. now owns 502,651 shares of the biotechnology company's stock valued at $54,176,000 after acquiring an additional 502,400 shares in the last quarter. State Street Corp lifted its position in Blueprint Medicines by 16.2% in the 3rd quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company's stock valued at $255,827,000 after acquiring an additional 385,818 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Blueprint Medicines by 161.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 496,087 shares of the biotechnology company's stock valued at $45,888,000 after purchasing an additional 306,079 shares during the last quarter.

Insider Transactions at Blueprint Medicines

In other news, CEO Kate Haviland sold 2,353 shares of Blueprint Medicines stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $96.60, for a total value of $227,299.80. Following the sale, the chief executive officer now owns 150,824 shares in the company, valued at $14,569,598.40. This trade represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Fouad Namouni sold 3,633 shares of the company's stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total transaction of $324,499.56. Following the transaction, the insider now owns 69,070 shares of the company's stock, valued at approximately $6,169,332.40. This trade represents a 5.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,260 shares of company stock worth $768,057 over the last quarter. 4.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on BPMC shares. Wells Fargo & Company dropped their target price on shares of Blueprint Medicines from $153.00 to $151.00 and set an "overweight" rating on the stock in a report on Thursday, October 31st. JPMorgan Chase & Co. assumed coverage on Blueprint Medicines in a research report on Thursday, November 14th. They set an "overweight" rating and a $126.00 price objective on the stock. JMP Securities restated a "market outperform" rating and set a $125.00 target price on shares of Blueprint Medicines in a research note on Monday, November 18th. Wedbush restated an "outperform" rating and set a $135.00 price objective on shares of Blueprint Medicines in a research report on Thursday, November 14th. Finally, HC Wainwright reissued a "buy" rating and issued a $135.00 price target on shares of Blueprint Medicines in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $122.11.

Blueprint Medicines Stock Performance

Shares of NASDAQ:BPMC traded up $0.89 on Friday, hitting $95.97. 373,649 shares of the company were exchanged, compared to its average volume of 556,725. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09. The stock's 50 day moving average price is $91.62 and its 200 day moving average price is $97.79. Blueprint Medicines Co. has a 1-year low of $71.97 and a 1-year high of $121.90. The firm has a market capitalization of $6.10 billion, a P/E ratio of -45.48 and a beta of 0.59.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.08. The firm had revenue of $128.20 million during the quarter, compared to analysts' expectations of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The firm's revenue was up 126.5% compared to the same quarter last year. During the same quarter last year, the company posted ($2.20) earnings per share. Sell-side analysts predict that Blueprint Medicines Co. will post -3.68 EPS 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.