Driehaus Capital Management LLC Boosts Stake in Blueprint Medicines Co. (NASDAQ:BPMC)

Driehaus Capital Management LLC lifted its holdings in Blueprint Medicines Co. (NASDAQ:BPMC) by 101.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 358,255 shares of the biotechnology company’s stock after buying an additional 180,043 shares during the period. Driehaus Capital Management LLC owned approximately 0.57% of Blueprint Medicines worth $38,613,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Triad Wealth Partners LLC purchased a new position in shares of Blueprint Medicines in the second quarter worth about $27,000. Covestor Ltd raised its stake in Blueprint Medicines by 9,700.0% during the first quarter. Covestor Ltd now owns 294 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 291 shares during the period. Headlands Technologies LLC raised its stake in Blueprint Medicines by 105.2% during the first quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 342 shares during the period. Natixis purchased a new position in Blueprint Medicines during the first quarter worth about $73,000. Finally, CWM LLC raised its stake in Blueprint Medicines by 114.6% during the second quarter. CWM LLC now owns 1,105 shares of the biotechnology company’s stock worth $119,000 after purchasing an additional 590 shares during the period.

Analyst Ratings Changes

A number of equities analysts have commented on BPMC shares. Barclays lifted their target price on shares of Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Morgan Stanley lifted their target price 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. Baird R W raised shares of Blueprint Medicines to a “strong-buy” rating in a research note on Friday, August 2nd. Oppenheimer lifted their price target on shares of Blueprint Medicines from $114.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Finally, Guggenheim lifted their price target on shares of Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $120.00.

Blueprint Medicines Trading Up 3.9 %

Shares of BPMC stock opened at $92.55 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.65 and a current ratio of 3.71. Blueprint Medicines Co. has a fifty-two week low of $43.89 and a fifty-two week high of $121.90. The stock has a market capitalization of $5.80 billion, a P/E ratio of -19.24 and a beta of 0.58. The company has a 50 day moving average price of $95.09 and a 200 day moving average price of $98.93.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) EPS for the quarter, topping 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 company had revenue of $138.20 million during the quarter, compared to analysts’ expectations of $104.02 million. During the same quarter in the previous year, the business posted ($2.19) EPS. The firm’s revenue was up 139.9% on a year-over-year basis. Equities research analysts predict that Blueprint Medicines Co. will post -3.99 EPS for the current fiscal year.

Insider Transactions at Blueprint Medicines

In other news, insider Debra Durso-Bumpus sold 3,850 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $111.20, for a total transaction of $428,120.00. Following the completion of the sale, 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 can be accessed through this link. In other news, insider Philina Lee sold 41,913 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 34,729 shares in the company, valued at approximately $3,236,395.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $428,120.00. Following the sale, the insider now owns 43,763 shares of the company’s stock, valued at approximately $4,866,445.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,580 shares of company stock worth $5,315,236. 4.21% of the stock is currently owned by insiders.

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.