Algert Global LLC Increases Stock Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Algert Global LLC increased its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 40.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,236 shares of the biotechnology company’s stock after buying an additional 26,696 shares during the quarter. Algert Global LLC owned 0.15% of Blueprint Medicines worth $8,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Amalgamated Bank grew its stake in Blueprint Medicines by 5.3% during 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 grew its stake in Blueprint Medicines by 13.3% during 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. boosted its stake 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 worth $3,008,000 after buying an additional 132 shares during the last quarter. Pallas Capital Advisors LLC boosted its stake in shares of Blueprint Medicines by 3.2% in the third quarter. Pallas Capital Advisors LLC now owns 5,657 shares of the biotechnology company’s stock worth $523,000 after buying an additional 176 shares during the last quarter. Finally, US Bancorp DE boosted its stake 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 worth $353,000 after buying an additional 183 shares during the last quarter.

Insider Activity at Blueprint Medicines

In related news, insider Fouad Namouni sold 3,633 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total value of $324,499.56. Following the completion of the sale, the insider now owns 69,070 shares of the company’s stock, valued at approximately $6,169,332.40. This trade represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.21% of the company’s stock.

Blueprint Medicines Price Performance

Shares of Blueprint Medicines stock opened at $94.15 on Friday. Blueprint Medicines Co. has a 12 month low of $66.61 and a 12 month high of $121.90. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. The stock has a market capitalization of $5.98 billion, a P/E ratio of -44.62 and a beta of 0.59. The business has a 50 day simple moving average of $90.36 and a two-hundred day simple moving average of $98.53.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, beating the consensus estimate of ($0.97) by $0.08. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The firm had revenue of $128.20 million during the quarter, compared to analysts’ expectations of $127.56 million. During the same quarter last year, the firm earned ($2.20) earnings per share. The business’s revenue for the quarter was up 126.5% on a year-over-year basis. As a group, analysts predict that Blueprint Medicines Co. will post -3.68 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on BPMC. Barclays upped their target price on Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Guggenheim upped their target price on Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Wedbush restated an “outperform” rating and issued a $135.00 target price on shares of Blueprint Medicines in a research note on Thursday, November 14th. HC Wainwright restated a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a research note on Friday, November 15th. Finally, Wells Fargo & Company lowered their target price on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Blueprint Medicines has a consensus rating of “Moderate Buy” and an average target price of $122.11.

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.