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

Algert Global LLC increased its holdings in Blueprint Medicines Co. (NASDAQ:BPMC) by 40.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 92,236 shares of the biotechnology company’s stock after acquiring an additional 26,696 shares during the period. Algert Global LLC’s holdings in Blueprint Medicines were worth $8,532,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in BPMC. Price T Rowe Associates Inc. MD boosted its position in shares of Blueprint Medicines by 15.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,250,823 shares of the biotechnology company’s stock worth $592,954,000 after buying an additional 821,868 shares during the period. Millennium Management LLC boosted its position in shares of Blueprint Medicines by 540.0% during the second quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company’s stock worth $67,646,000 after buying an additional 529,566 shares during the period. 1832 Asset Management L.P. boosted its position in shares of Blueprint Medicines by 200,159.4% during the second quarter. 1832 Asset Management L.P. now owns 502,651 shares of the biotechnology company’s stock worth $54,176,000 after buying an additional 502,400 shares during the period. Point72 Asset Management L.P. boosted its position in shares of Blueprint Medicines by 79.3% during the second quarter. Point72 Asset Management L.P. now owns 501,581 shares of the biotechnology company’s stock worth $54,060,000 after buying an additional 221,813 shares during the period. Finally, Clearbridge Investments LLC purchased a new position in shares of Blueprint Medicines during the second quarter worth $23,817,000.

Blueprint Medicines Stock Down 2.6 %

Blueprint Medicines stock opened at $94.15 on Friday. Blueprint Medicines Co. has a 1-year low of $66.61 and a 1-year 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 cap of $5.98 billion, a PE ratio of -44.62 and a beta of 0.59. The stock’s fifty day moving average is $90.36 and its two-hundred day moving average is $98.53.

Blueprint Medicines (NASDAQ:BPMC) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $128.20 million for the quarter, compared to analysts’ expectations of $127.56 million. During the same quarter in the previous year, the firm earned ($2.20) earnings per share. The business’s revenue was up 126.5% compared to the same quarter last year. On average, sell-side analysts expect that Blueprint Medicines Co. will post -3.68 EPS for the current fiscal year.

Insider Transactions at Blueprint Medicines

In related news, insider Fouad Namouni sold 3,633 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total transaction of $324,499.56. Following the transaction, the insider now owns 69,070 shares of the company’s stock, valued at $6,169,332.40. This trade represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 4.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Baird R W upgraded Blueprint Medicines to a “strong-buy” rating in a research report on Friday, August 2nd. Robert W. Baird raised their price target on Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Barclays increased their price objective on Blueprint Medicines from $75.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. StockNews.com upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Guggenheim increased their price objective on Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.