Algert Global LLC Purchases 26,696 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Algert Global LLC raised its holdings in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 40.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 92,236 shares of the biotechnology company's stock after acquiring an additional 26,696 shares during the quarter. Algert Global LLC owned about 0.15% of Blueprint Medicines worth $8,532,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BPMC. Triad Wealth Partners LLC acquired a new position in shares of Blueprint Medicines in the 2nd quarter valued at $27,000. Covestor Ltd boosted its stake in shares of Blueprint Medicines by 9,700.0% during the 1st quarter. Covestor Ltd now owns 294 shares of the biotechnology company's stock worth $28,000 after acquiring an additional 291 shares during the period. Natixis bought a new position in Blueprint Medicines during the first quarter worth $73,000. CWM LLC lifted its position in Blueprint Medicines by 114.6% during the second quarter. CWM LLC now owns 1,105 shares of the biotechnology company's stock worth $119,000 after acquiring an additional 590 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Blueprint Medicines by 13.3% during the second quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company's stock worth $120,000 after purchasing an additional 131 shares during the period.

Analysts Set New Price Targets

Several research firms have weighed in on BPMC. StockNews.com upgraded Blueprint Medicines from a "sell" rating to a "hold" rating in a research report on Friday, November 8th. Robert W. Baird increased their target price on shares of Blueprint Medicines from $112.00 to $127.00 and gave the stock an "outperform" rating in a research report on Friday, August 2nd. Barclays boosted their price target 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. Needham & Company LLC reiterated a "buy" rating and set a $135.00 target price on shares of Blueprint Medicines in a research report on Friday, November 15th. Finally, Baird R W upgraded Blueprint Medicines to a "strong-buy" rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $122.11.

Insiders Place Their Bets

In other Blueprint Medicines 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 transaction of $324,499.56. Following the transaction, the insider now directly owns 69,070 shares in the company, valued at approximately $6,169,332.40. This represents a 5.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.21% of the company's stock.

Blueprint Medicines Trading Down 2.6 %

BPMC traded down $2.47 during trading on Friday, reaching $94.15. 663,581 shares of the company's stock were exchanged, compared to its average volume of 746,414. 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 one year low of $66.61 and a one year high of $121.90. The firm has a fifty day moving average price of $90.36 and a two-hundred day moving average price of $98.53. The stock has a market capitalization of $5.98 billion, a PE ratio of -44.62 and a beta of 0.59.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share 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 company had revenue of $128.20 million during the quarter, compared to analysts' expectations of $127.56 million. During the same quarter in the prior year, the firm posted ($2.20) earnings per share. The business's quarterly revenue was up 126.5% on a year-over-year basis. As a group, equities research analysts forecast that Blueprint Medicines Co. will post -3.68 earnings per share for the current fiscal year.

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.