Hood River Capital Management LLC Buys 32,694 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Hood River Capital Management LLC lifted its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 7.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 502,820 shares of the biotechnology company’s stock after purchasing an additional 32,694 shares during the period. Blueprint Medicines comprises approximately 1.1% of Hood River Capital Management LLC’s portfolio, making the stock its 28th biggest holding. Hood River Capital Management LLC owned about 0.80% of Blueprint Medicines worth $54,194,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Blueprint Medicines by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company’s stock worth $598,564,000 after acquiring an additional 195,007 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Blueprint Medicines by 15.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,250,823 shares of the biotechnology company’s stock worth $592,954,000 after purchasing an additional 821,868 shares during the period. American Century Companies Inc. grew its stake in shares of Blueprint Medicines by 4.2% in the second quarter. American Century Companies Inc. now owns 802,733 shares of the biotechnology company’s stock worth $86,519,000 after purchasing an additional 32,600 shares during the last quarter. Norges Bank purchased a new position in Blueprint Medicines during the 4th quarter valued at about $55,893,000. Finally, 1832 Asset Management L.P. raised its position in Blueprint Medicines by 200,159.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 502,651 shares of the biotechnology company’s stock valued at $54,176,000 after purchasing an additional 502,400 shares during the last quarter.

Blueprint Medicines Stock Up 0.8 %

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

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share for the quarter, beating the consensus estimate of ($1.29) by $0.49. The firm had revenue of $138.20 million during the quarter, compared to the consensus estimate of $104.02 million. Blueprint Medicines had a negative return on equity of 157.30% and a negative net margin of 56.64%. The company’s revenue was up 139.9% on a year-over-year basis. During the same period last year, the company earned ($2.19) earnings per share. On average, research analysts forecast that Blueprint Medicines Co. will post -3.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. JMP Securities reiterated a “market outperform” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a research report on Friday, June 7th. Morgan Stanley lifted their price target on shares of Blueprint Medicines from $110.00 to $115.00 and gave the company an “equal weight” rating in a report on Friday, July 12th. Baird R W raised shares of Blueprint Medicines to a “strong-buy” rating in a research report on Friday, August 2nd. Robert W. Baird raised their target price on shares of Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Guggenheim lifted their target price on shares of Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $120.00.

Insider Buying and Selling at Blueprint Medicines

In other news, insider Debra Durso-Bumpus sold 333 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $111.15, for a total transaction of $37,012.95. Following the transaction, the insider now directly owns 43,763 shares of the company’s stock, valued at $4,864,257.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Blueprint Medicines news, insider Debra Durso-Bumpus sold 333 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $111.15, for a total value of $37,012.95. Following the completion of the transaction, the insider now owns 43,763 shares of the company’s stock, valued at approximately $4,864,257.45. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction, the insider now owns 34,729 shares in the company, valued at approximately $3,236,395.51. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,913 shares of company stock worth $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.