Brevan Howard Capital Management LP Purchases 5,794 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Brevan Howard Capital Management LP boosted its holdings in Blueprint Medicines Co. (NASDAQ:BPMC) by 48.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,751 shares of the biotechnology company’s stock after buying an additional 5,794 shares during the quarter. Brevan Howard Capital Management LP’s holdings in Blueprint Medicines were worth $1,548,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Torray Investment Partners LLC lifted its holdings in shares of Blueprint Medicines by 1.1% during the fourth quarter. Torray Investment Partners LLC now owns 16,499 shares of the biotechnology company’s stock worth $1,439,000 after purchasing an additional 186 shares during the period. Franklin Resources Inc. raised its position in Blueprint Medicines by 0.7% during the 3rd quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company’s stock worth $3,259,000 after purchasing an additional 265 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in Blueprint Medicines by 4.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,652 shares of the biotechnology company’s stock worth $580,000 after buying an additional 283 shares during the period. Pitcairn Co. grew its position in shares of Blueprint Medicines by 2.8% in the 4th quarter. Pitcairn Co. now owns 10,608 shares of the biotechnology company’s stock valued at $925,000 after buying an additional 293 shares during the last quarter. Finally, Hillsdale Investment Management Inc. increased its stake in shares of Blueprint Medicines by 0.6% in the fourth quarter. Hillsdale Investment Management Inc. now owns 50,830 shares of the biotechnology company’s stock valued at $4,433,000 after buying an additional 310 shares during the period.

Blueprint Medicines Price Performance

Shares of NASDAQ:BPMC opened at $99.16 on Wednesday. The stock’s 50 day moving average is $88.07 and its 200-day moving average is $93.53. Blueprint Medicines Co. has a twelve month low of $73.04 and a twelve month high of $121.90. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $6.34 billion, a price-to-earnings ratio of -91.81 and a beta of 0.83.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.32). The business had revenue of $149.41 million during the quarter, compared to the consensus estimate of $158.31 million. Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. The firm’s quarterly revenue was up 55.5% on a year-over-year basis. During the same period last year, the business posted $1.40 earnings per share. Sell-side analysts forecast that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on BPMC shares. Piper Sandler upped their target price on Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Morgan Stanley initiated coverage on shares of Blueprint Medicines in a research note on Thursday, March 20th. They issued an “equal weight” rating and a $100.00 price objective on the stock. Wolfe Research began coverage on shares of Blueprint Medicines in a research note on Tuesday, March 18th. They set an “outperform” rating for the company. Wedbush reaffirmed an “outperform” rating and set a $128.00 price target on shares of Blueprint Medicines in a research report on Thursday, May 1st. Finally, JMP Securities reissued a “market outperform” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a research report on Friday, February 14th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $126.56.

Insider Activity at Blueprint Medicines

In other news, insider Ariel Hurley sold 3,203 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.62, for a total value of $296,661.86. Following the completion of the sale, the insider now owns 18,270 shares in the company, valued at $1,692,167.40. This represents a 14.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Christina Rossi sold 2,274 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $95.02, for a total transaction of $216,075.48. Following the completion of the sale, the chief operating officer now owns 69,266 shares of the company’s stock, valued at approximately $6,581,655.32. This represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. 4.21% of the stock is owned by insiders.

Blueprint Medicines 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.