Blueprint Medicines Co. (NASDAQ:BPMC) Position Boosted by 1832 Asset Management L.P.

1832 Asset Management L.P. lifted its holdings in Blueprint Medicines Co. (NASDAQ:BPMC) by 200,159.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 502,651 shares of the biotechnology company’s stock after purchasing an additional 502,400 shares during the period. 1832 Asset Management L.P. owned about 0.80% of Blueprint Medicines worth $54,176,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Triad Wealth Partners LLC acquired a new position in Blueprint Medicines in the second quarter worth approximately $27,000. Covestor Ltd grew its holdings in shares of Blueprint Medicines by 9,700.0% in the 1st quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 291 shares during the last quarter. Headlands Technologies LLC grew its holdings in shares of Blueprint Medicines by 105.2% in the 1st quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock worth $63,000 after acquiring an additional 342 shares during the last quarter. Natixis acquired a new stake in shares of Blueprint Medicines during the first quarter worth $73,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Blueprint Medicines during the fourth quarter valued at $95,000.

Analyst Ratings Changes

A number of equities analysts recently weighed in on BPMC shares. Barclays lifted their price target on Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Oppenheimer lifted their target price on shares of Blueprint Medicines from $114.00 to $125.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Robert W. Baird boosted their price target on shares of Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Morgan Stanley raised their price objective on shares of Blueprint Medicines from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Friday, July 12th. Finally, Needham & Company LLC reissued a “buy” rating and set a $130.00 target price on shares of Blueprint Medicines in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $120.00.

Blueprint Medicines Price Performance

Shares of BPMC opened at $91.68 on Monday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.65 and a current ratio of 3.71. The firm has a market cap of $5.74 billion, a PE ratio of -19.06 and a beta of 0.58. The firm’s 50 day moving average price is $97.76 and its 200 day moving average price is $99.09. Blueprint Medicines Co. has a twelve month low of $43.89 and a twelve month high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.29) by $0.49. Blueprint Medicines had a negative net margin of 56.64% and a negative return on equity of 157.30%. The business had revenue of $138.20 million during the quarter, compared to analyst estimates of $104.02 million. During the same quarter in the previous year, the business earned ($2.19) EPS. Blueprint Medicines’s quarterly revenue was up 139.9% compared to the same quarter last year. As a group, research analysts expect that Blueprint Medicines Co. will post -3.99 EPS for the current fiscal year.

Insider Activity

In related news, insider Debra Durso-Bumpus sold 3,850 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $111.20, for a total value of $428,120.00. Following the completion of the sale, the insider now directly owns 43,763 shares in the company, valued at approximately $4,866,445.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Debra Durso-Bumpus sold 3,850 shares of Blueprint Medicines stock in a transaction on Friday, July 5th. The shares were sold at an average price of $111.20, for a total value of $428,120.00. Following the transaction, the insider now owns 43,763 shares in the company, valued at approximately $4,866,445.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Philina Lee sold 41,913 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the sale, the insider now owns 34,729 shares of the company’s stock, valued at $3,236,395.51. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,913 shares of company stock valued at $5,352,249. Insiders own 4.21% of the company’s stock.

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.