How Blueprint Medicines Corp (BPMC) Stacks Up Against Its Peers

As industrywide interest jumped, some big names have been driving this bullishness. Deerfield Management, led by James E. Flynn, initiated the most valuable position in Blueprint Medicines Corp (NASDAQ:BPMC). Deerfield Management had $6.4 million invested in the company at the end of the quarter. D E Shaw, one of the biggest hedge funds in the world also made a $0.7 million investment in the stock during the quarter. The following funds were also among the new BPMC investors: Israel Englander’s Millennium Management, Ken Griffin’s Citadel Investment Group, and Jim Simons’ Renaissance Technologies.

Let’s go over hedge fund activity in other stocks similar to Blueprint Medicines Corp (NASDAQ:BPMC). We will take a look at Getty Realty Corp. (NYSE:GTY), Avianca Holdings SA (ADR) (NYSE:AVH), Briggs & Stratton Corporation (NYSE:BGG), and American Railcar Industries, Inc. (NASDAQ:ARII). All of these stocks’ market caps match BPMC’s market cap.

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $164 million. That figure was $195 million in BPMC’s case. Briggs & Stratton Corporation (NYSE:BGG) is the most popular stock in this table. On the other hand Avianca Holdings SA (ADR) (NYSE:AVH) is the least popular one with only 5 bullish hedge fund positions. Blueprint Medicines Corp (NASDAQ:BPMC) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard BGG might be a better candidate to consider taking a long position in.

Disclosure: None