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

Algert Global LLC increased its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 81.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,540 shares of the biotechnology company’s stock after buying an additional 29,330 shares during the period. Algert Global LLC owned 0.10% of Blueprint Medicines worth $7,064,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in 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 valued at $592,954,000 after purchasing an additional 821,868 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Blueprint Medicines by 540.0% in the 2nd quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company’s stock valued at $67,646,000 after acquiring an additional 529,566 shares during the last quarter. 1832 Asset Management L.P. grew its position in Blueprint Medicines by 200,159.4% in the second quarter. 1832 Asset Management L.P. now owns 502,651 shares of the biotechnology company’s stock worth $54,176,000 after acquiring an additional 502,400 shares in the last quarter. Point72 Asset Management L.P. increased its stake in 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 acquiring an additional 221,813 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Blueprint Medicines by 3.2% during the first quarter. Vanguard Group Inc. now owns 6,309,977 shares of the biotechnology company’s stock worth $598,564,000 after acquiring an additional 195,007 shares during the last quarter.

Blueprint Medicines Stock Up 3.9 %

Shares of Blueprint Medicines stock opened at $92.55 on Monday. Blueprint Medicines Co. has a 1 year low of $43.89 and a 1 year high of $121.90. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.71 and a quick ratio of 3.65. The stock has a market cap of $5.80 billion, a price-to-earnings ratio of -19.24 and a beta of 0.58. The firm’s 50-day moving average is $95.09 and its two-hundred day moving average is $99.05.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data 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. The company had revenue of $138.20 million for the quarter, compared to analyst estimates of $104.02 million. Blueprint Medicines had a negative net margin of 56.64% and a negative return on equity of 157.30%. Blueprint Medicines’s revenue was up 139.9% compared to the same quarter last year. During the same period last year, the company posted ($2.19) earnings per share. As a group, research analysts expect that Blueprint Medicines Co. will post -3.99 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Debra Durso-Bumpus sold 8,817 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $111.29, for a total transaction of $981,243.93. Following the completion of the sale, the insider now directly owns 43,763 shares in the company, valued at approximately $4,870,384.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Philina Lee sold 41,913 shares of Blueprint Medicines stock in a transaction that occurred on 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 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 can be accessed through this link. Also, insider Debra Durso-Bumpus sold 8,817 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $111.29, for a total transaction of $981,243.93. Following the transaction, the insider now owns 43,763 shares of the company’s stock, valued at approximately $4,870,384.27. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,580 shares of company stock worth $5,315,236. 4.21% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on BPMC shares. Robert W. Baird lifted their target price on Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Morgan Stanley lifted their price objective on shares of Blueprint Medicines from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Friday, July 12th. Needham & Company LLC reissued a “buy” rating and issued a $130.00 target price on shares of Blueprint Medicines in a research note on Thursday, August 1st. Barclays raised their target price on shares of Blueprint Medicines from $75.00 to $105.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Finally, Guggenheim upped their price target on shares of Blueprint Medicines from $130.00 to $138.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Blueprint Medicines presently has a consensus rating of “Moderate Buy” and an average price target of $120.00.

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.