Ally Bridge Group NY LLC Has $9.81 Million Stock Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Ally Bridge Group NY LLC raised its holdings in Blueprint Medicines Co. (NASDAQ:BPMC) by 40.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 106,080 shares of the biotechnology company’s stock after buying an additional 30,442 shares during the quarter. Blueprint Medicines comprises 5.3% of Ally Bridge Group NY LLC’s investment portfolio, making the stock its 5th largest position. Ally Bridge Group NY LLC owned approximately 0.17% of Blueprint Medicines worth $9,812,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in BPMC. Hsbc Holdings PLC bought a new position in Blueprint Medicines in the second quarter worth about $1,060,000. Comerica Bank raised its position in shares of Blueprint Medicines by 2,582.9% in the 1st quarter. Comerica Bank now owns 10,839 shares of the biotechnology company’s stock worth $1,028,000 after acquiring an additional 10,435 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of Blueprint Medicines by 27.8% in the 2nd quarter. Federated Hermes Inc. now owns 62,354 shares of the biotechnology company’s stock valued at $6,721,000 after purchasing an additional 13,579 shares during the period. SG Americas Securities LLC boosted its position in shares of Blueprint Medicines by 82.8% during the second quarter. SG Americas Securities LLC now owns 21,684 shares of the biotechnology company’s stock valued at $2,337,000 after purchasing an additional 9,819 shares in the last quarter. Finally, Nicholas Investment Partners LP purchased a new stake in Blueprint Medicines in the second quarter worth $4,377,000.

Insider Activity

In related news, insider Fouad Namouni sold 3,633 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total transaction of $324,499.56. Following the completion of the sale, the insider now directly owns 69,070 shares in the company, valued at approximately $6,169,332.40. The trade was a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.21% of the company’s stock.

Blueprint Medicines Price Performance

Shares of BPMC opened at $95.10 on Thursday. The firm has a fifty day simple moving average of $90.67 and a two-hundred day simple moving average of $98.28. The firm has a market cap of $6.04 billion, a PE ratio of -45.07 and a beta of 0.59. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09. Blueprint Medicines Co. has a 1-year low of $67.00 and a 1-year high of $121.90.

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

Analyst Ratings Changes

Several equities analysts have commented on BPMC shares. StockNews.com raised Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Wells Fargo & Company lowered their price target on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. UBS Group assumed coverage on shares of Blueprint Medicines in a report on Thursday, October 24th. They issued a “neutral” rating and a $88.00 price objective on the stock. Robert W. Baird lifted their target price on shares of Blueprint Medicines from $112.00 to $127.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $135.00 price target on shares of Blueprint Medicines in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.