Blueprint Medicines Co. (NASDAQ:BPMC) Stock Holdings Increased by Cinctive Capital Management LP

Cinctive Capital Management LP grew its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 29.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 96,048 shares of the biotechnology company’s stock after buying an additional 21,707 shares during the period. Cinctive Capital Management LP owned about 0.15% of Blueprint Medicines worth $8,377,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in BPMC. Wellington Management Group LLP increased its stake in Blueprint Medicines by 22.5% during the third 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 last quarter. Norges Bank bought a new stake in Blueprint Medicines in the fourth quarter valued at $62,028,000. State Street Corp boosted its holdings in shares of Blueprint Medicines by 16.2% during the third 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 during the period. Jennison Associates LLC bought a new position in shares of Blueprint Medicines during the fourth quarter worth about $31,417,000. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Blueprint Medicines by 161.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 496,087 shares of the biotechnology company’s stock worth $45,888,000 after acquiring an additional 306,079 shares during the period.

Analyst Upgrades and Downgrades

BPMC has been the subject of a number of analyst reports. Jefferies Financial Group initiated coverage on shares of Blueprint Medicines in a research note on Monday, March 17th. They set a “buy” rating and a $135.00 target price for the company. JMP Securities reissued a “market outperform” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a report on Friday, February 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $133.00 target price on shares of Blueprint Medicines in a research note on Thursday, February 13th. Wedbush reissued an “outperform” rating and issued a $128.00 price target on shares of Blueprint Medicines in a research note on Friday, February 28th. Finally, HC Wainwright reissued a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a report on Friday, February 14th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $124.95.

Blueprint Medicines Stock Performance

Shares of Blueprint Medicines stock opened at $85.94 on Wednesday. The stock has a market cap of $5.49 billion, a PE ratio of -79.57 and a beta of 0.58. Blueprint Medicines Co. has a 12 month low of $80.68 and a 12 month high of $121.90. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15. The business has a fifty day simple moving average of $97.17 and a 200-day simple moving average of $94.05.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share 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%. On average, sell-side analysts anticipate that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Ariel Hurley sold 3,203 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.62, for a total value of $296,661.86. Following the transaction, the insider now owns 18,270 shares in the company, valued at approximately $1,692,167.40. This represents a 14.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $95.02, for a total transaction of $216,075.48. Following the completion of the sale, the chief operating officer now owns 69,266 shares of the company’s stock, valued at $6,581,655.32. This trade represents a 3.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,608 shares of company stock worth $3,319,587 in the last quarter. 4.21% of the stock is currently owned by corporate insiders.

Blueprint Medicines Company 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.