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

AQR Capital Management LLC increased its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 26.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 144,693 shares of the biotechnology company's stock after purchasing an additional 30,635 shares during the period. AQR Capital Management LLC owned approximately 0.23% of Blueprint Medicines worth $12,620,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Blueprint Medicines by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 6,774,884 shares of the biotechnology company's stock worth $590,905,000 after buying an additional 91,450 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Blueprint Medicines by 5.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,679,089 shares of the biotechnology company's stock worth $495,331,000 after acquiring an additional 291,822 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Blueprint Medicines by 8.0% during the 4th quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company's stock valued at $373,421,000 after acquiring an additional 316,754 shares during the period. William Blair Investment Management LLC grew its position in Blueprint Medicines by 16.1% in the 4th quarter. William Blair Investment Management LLC now owns 1,944,695 shares of the biotechnology company's stock valued at $169,616,000 after acquiring an additional 269,896 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Blueprint Medicines by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,490,101 shares of the biotechnology company's stock valued at $129,996,000 after acquiring an additional 9,914 shares in the last quarter.

Analyst Upgrades and Downgrades

BPMC has been the subject of several recent research reports. Wolfe Research began coverage on shares of Blueprint Medicines in a research note on Tuesday, March 18th. They issued an "outperform" rating for the company. JPMorgan Chase & Co. increased their price objective on Blueprint Medicines from $126.00 to $129.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Jefferies Financial Group assumed coverage on Blueprint Medicines in a report on Monday, March 17th. They set a "buy" rating and a $135.00 price target on the stock. Morgan Stanley started coverage on Blueprint Medicines in a research note on Thursday, March 20th. They issued an "equal weight" rating and a $100.00 price objective for the company. Finally, Needham & Company LLC cut their target price on shares of Blueprint Medicines from $133.00 to $130.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Blueprint Medicines currently has an average rating of "Moderate Buy" and a consensus target price of $127.22.

Insider Buying and Selling at Blueprint Medicines

In other news, insider Ariel Hurley sold 3,203 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.62, for a total transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Christina Rossi sold 2,274 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $95.02, for a total value of $216,075.48. Following the sale, the chief operating officer now directly owns 69,266 shares of the company's stock, valued at approximately $6,581,655.32. This represents a 3.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.21% of the stock is owned by company insiders.

Blueprint Medicines Stock Performance

Shares of BPMC opened at $101.83 on Tuesday. The company's 50 day simple moving average is $87.90 and its 200-day simple moving average is $93.49. Blueprint Medicines Co. has a 12-month low of $73.04 and a 12-month high of $121.90. The firm has a market cap of $6.51 billion, a PE ratio of -94.29 and a beta of 0.83. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The biotechnology company reported ($0.74) EPS for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.32). Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. The business had revenue of $149.41 million during the quarter, compared to analyst estimates of $158.31 million. During the same quarter in the prior year, the firm posted $1.40 earnings per share. The company's revenue for the quarter was up 55.5% compared to the same quarter last year. As a group, equities analysts predict that Blueprint Medicines Co. will post -1.28 EPS for the current 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.

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