Ally Bridge Group NY LLC Decreases Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Ally Bridge Group NY LLC trimmed its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 53.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,638 shares of the biotechnology company’s stock after selling 85,312 shares during the quarter. Blueprint Medicines makes up 4.9% of Ally Bridge Group NY LLC’s portfolio, making the stock its 8th biggest position. Ally Bridge Group NY LLC owned 0.12% of Blueprint Medicines worth $8,152,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Gilbert & Cook Inc. raised its stake in shares of Blueprint Medicines by 8.5% during the fourth quarter. Gilbert & Cook Inc. now owns 4,846 shares of the biotechnology company’s stock worth $447,000 after buying an additional 380 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Blueprint Medicines by 1.7% during the 4th quarter. Principal Financial Group Inc. now owns 14,510 shares of the biotechnology company’s stock valued at $1,338,000 after acquiring an additional 247 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Blueprint Medicines in the 4th quarter valued at $321,000. Norges Bank acquired a new position in shares of Blueprint Medicines in the 4th quarter valued at $55,893,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Blueprint Medicines in the 4th quarter worth $95,000.

Blueprint Medicines Price Performance

Shares of BPMC opened at $91.68 on Monday. The company has a 50 day moving average of $97.76 and a 200-day moving average of $99.09. The company has a quick ratio of 3.65, a current ratio of 3.71 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $5.74 billion, a P/E ratio of -19.06 and a beta of 0.58. Blueprint Medicines Co. has a twelve month low of $43.89 and a twelve month high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.29) by $0.49. Blueprint Medicines had a negative net margin of 56.64% and a negative return on equity of 157.30%. The firm had revenue of $138.20 million for the quarter, compared to analyst estimates of $104.02 million. During the same period in the previous year, the business earned ($2.19) EPS. The company’s revenue was up 139.9% compared to the same quarter last year. As a group, equities research analysts forecast that Blueprint Medicines Co. will post -3.99 EPS for the current fiscal year.

Insider Buying and Selling

In other Blueprint Medicines news, insider Philina Lee sold 41,913 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the transaction, the insider now owns 34,729 shares of the company’s stock, valued at approximately $3,236,395.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Philina Lee sold 41,913 shares of Blueprint Medicines stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $93.19, for a total value of $3,905,872.47. Following the completion of the transaction, the insider now owns 34,729 shares of the company’s stock, valued at approximately $3,236,395.51. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Debra Durso-Bumpus sold 333 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $111.15, for a total transaction of $37,012.95. Following the completion of the sale, the insider now directly owns 43,763 shares in the company, valued at $4,864,257.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,913 shares of company stock worth $5,352,249. Corporate insiders own 4.21% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Oppenheimer increased their target price on Blueprint Medicines from $114.00 to $125.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Baird R W raised shares of Blueprint Medicines to a “strong-buy” rating in a research note on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 target price on shares of Blueprint Medicines in a research note on Thursday, August 1st. Morgan Stanley lifted their price target on shares of Blueprint Medicines from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Friday, July 12th. Finally, JMP Securities restated a “market outperform” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a research report on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $120.00.

About Blueprint Medicines

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.