AQR Capital Management LLC Grows Position in Blueprint Medicines Co. (NASDAQ:BPMC)

AQR Capital Management LLC boosted its holdings in Blueprint Medicines Co. (NASDAQ:BPMC) by 30.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 78,103 shares of the biotechnology company’s stock after acquiring an additional 18,099 shares during the quarter. AQR Capital Management LLC’s holdings in Blueprint Medicines were worth $8,418,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Amalgamated Bank increased its position in shares of Blueprint Medicines by 5.3% in the second quarter. Amalgamated Bank now owns 2,154 shares of the biotechnology company’s stock valued at $232,000 after buying an additional 109 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Blueprint Medicines by 13.3% in the second quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $120,000 after buying an additional 131 shares in the last quarter. EFG Asset Management North America Corp. increased its position in shares of Blueprint Medicines by 0.5% in the second quarter. EFG Asset Management North America Corp. now owns 27,884 shares of the biotechnology company’s stock valued at $3,008,000 after buying an additional 132 shares in the last quarter. US Bancorp DE increased its position in shares of Blueprint Medicines by 5.2% in the first quarter. US Bancorp DE now owns 3,724 shares of the biotechnology company’s stock valued at $353,000 after buying an additional 183 shares in the last quarter. Finally, Triad Wealth Partners LLC purchased a new position in shares of Blueprint Medicines in the second quarter valued at $27,000.

Blueprint Medicines Stock Performance

NASDAQ BPMC opened at $90.76 on Thursday. The firm has a market capitalization of $5.68 billion, a P/E ratio of -18.87 and a beta of 0.58. Blueprint Medicines Co. has a 1-year low of $43.89 and a 1-year high of $121.90. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.71 and a quick ratio of 3.65. The business’s 50-day simple moving average is $93.58 and its 200-day simple moving average is $99.03.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data 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 business had revenue of $138.20 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the company posted ($2.19) EPS. Equities analysts predict that Blueprint Medicines Co. will post -3.99 EPS for the current year.

Insider Activity

In related news, insider Philina Lee sold 41,913 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the transaction, the insider now directly owns 34,729 shares of the company’s stock, valued at approximately $3,236,395.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $428,120.00. Following the transaction, the insider now directly owns 43,763 shares of the company’s stock, valued at approximately $4,866,445.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Philina Lee sold 41,913 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $93.19, for a total value of $3,905,872.47. Following the transaction, the insider now directly owns 34,729 shares in the company, valued at $3,236,395.51. The disclosure for this sale can be found here. Corporate insiders own 4.21% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on BPMC shares. JMP Securities restated a “market outperform” rating and issued a $125.00 price target on shares of Blueprint Medicines in a research report on Friday, June 7th. Needham & Company LLC reiterated a “buy” rating and set a $130.00 price objective on shares of Blueprint Medicines in a research report on Thursday, August 1st. Robert W. Baird lifted their price objective on Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Baird R W upgraded Blueprint Medicines to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Guggenheim lifted their price objective on Blueprint Medicines from $130.00 to $138.00 and gave the stock 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 company. Based on data from MarketBeat, Blueprint Medicines has an average rating of “Moderate Buy” and an average price target of $120.00.

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.