Driehaus Capital Management LLC Grows Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Driehaus Capital Management LLC boosted its holdings in Blueprint Medicines Co. (NASDAQ:BPMC) by 101.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 358,255 shares of the biotechnology company’s stock after purchasing an additional 180,043 shares during the quarter. Driehaus Capital Management LLC’s holdings in Blueprint Medicines were worth $38,613,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Amalgamated Bank raised its position in Blueprint Medicines by 5.3% in the 2nd quarter. Amalgamated Bank now owns 2,154 shares of the biotechnology company’s stock valued at $232,000 after purchasing an additional 109 shares during the last quarter. Van ECK Associates Corp raised its position in Blueprint Medicines by 13.3% in the 2nd quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $120,000 after purchasing an additional 131 shares during the last quarter. EFG Asset Management North America Corp. raised its position in Blueprint Medicines by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 27,884 shares of the biotechnology company’s stock valued at $3,008,000 after purchasing an additional 132 shares during the last quarter. US Bancorp DE increased its stake in Blueprint Medicines by 5.2% in the 1st 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 during the period. Finally, Mackenzie Financial Corp increased its stake in Blueprint Medicines by 5.2% in the 2nd quarter. Mackenzie Financial Corp now owns 4,885 shares of the biotechnology company’s stock valued at $527,000 after buying an additional 243 shares during the period.

Wall Street Analysts Forecast Growth

BPMC has been the topic of several recent research reports. Morgan Stanley boosted their price objective on shares of Blueprint Medicines from $110.00 to $115.00 and gave the company an “equal weight” rating in a research note on Friday, July 12th. Guggenheim boosted their price objective 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. JMP Securities reissued a “market outperform” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a research note on Friday, June 7th. Barclays boosted their price objective on shares of Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Finally, Oppenheimer boosted their price objective on shares of Blueprint Medicines from $114.00 to $125.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.00.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, insider Debra Durso-Bumpus sold 8,817 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $111.29, for a total value of $981,243.93. Following the transaction, the insider now directly owns 43,763 shares in the company, valued at approximately $4,870,384.27. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Blueprint Medicines news, insider Debra Durso-Bumpus sold 8,817 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $111.29, for a total value of $981,243.93. Following the transaction, the insider now directly owns 43,763 shares in the company, valued at approximately $4,870,384.27. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 completion of the transaction, the insider now owns 34,729 shares in the company, valued at $3,236,395.51. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,580 shares of company stock worth $5,315,236. Corporate insiders own 4.21% of the company’s stock.

Blueprint Medicines Price Performance

Shares of NASDAQ BPMC opened at $92.55 on Friday. The stock has a market cap of $5.80 billion, a price-to-earnings ratio of -19.24 and a beta of 0.58. Blueprint Medicines Co. has a 52 week low of $43.89 and a 52 week high of $121.90. The company’s 50-day moving average price is $95.09 and its 200 day moving average price is $98.93. The company has a current ratio of 3.71, a quick ratio of 3.65 and a debt-to-equity ratio of 1.06.

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

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.