Diadema Partners LP Makes New $5.60 Million Investment in Blueprint Medicines Co. (NASDAQ:BPMC)

Diadema Partners LP bought a new stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC) during the 4th quarter, HoldingsChannel.com reports. The fund bought 64,193 shares of the biotechnology company’s stock, valued at approximately $5,599,000. Blueprint Medicines accounts for about 2.4% of Diadema Partners LP’s holdings, making the stock its 6th biggest position.

Several other hedge funds have also added to or reduced their stakes in the business. Avoro Capital Advisors LLC purchased a new stake in Blueprint Medicines during the 4th quarter valued at $103,356,000. Norges Bank bought a new stake in shares of Blueprint Medicines in the fourth quarter worth about $62,028,000. Jennison Associates LLC purchased a new position in Blueprint Medicines during the 4th quarter valued at about $31,417,000. Rock Springs Capital Management LP lifted its holdings in Blueprint Medicines by 42.7% in the 4th quarter. Rock Springs Capital Management LP now owns 1,096,899 shares of the biotechnology company’s stock worth $95,672,000 after buying an additional 328,123 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Blueprint Medicines by 8.0% in the 4th quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company’s stock worth $373,421,000 after buying an additional 316,754 shares during the last quarter.

Analysts Set New Price Targets

BPMC has been the subject of several research reports. Wolfe Research assumed coverage on shares of Blueprint Medicines in a report on Tuesday, March 18th. They issued an “outperform” rating for the company. StockNews.com downgraded shares of Blueprint Medicines from a “hold” rating to a “sell” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. upped their target price on Blueprint Medicines from $126.00 to $129.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Jefferies Financial Group initiated coverage on Blueprint Medicines in a research report on Monday, March 17th. They issued a “buy” rating and a $135.00 target price for the company. Finally, Stephens restated an “overweight” rating and set a $140.00 price target on shares of Blueprint Medicines in a research report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.95.

Insiders Place Their Bets

In other news, COO Christina Rossi sold 2,274 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $95.02, for a total value of $216,075.48. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ariel Hurley sold 3,203 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were 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 of the company’s stock, valued at approximately $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. Insiders own 4.21% of the company’s stock.

Blueprint Medicines Price Performance

Shares of NASDAQ:BPMC opened at $84.18 on Tuesday. The business has a 50-day simple moving average of $88.22 and a two-hundred day simple moving average of $93.24. 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 firm has a market cap of $5.38 billion, a price-to-earnings ratio of -77.94 and a beta of 0.75. Blueprint Medicines Co. has a fifty-two week low of $73.04 and a fifty-two week high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last issued its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate 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, analysts expect 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.