Blueprint Medicines Co. (NASDAQ:BPMC) Shares Purchased by Ally Bridge Group NY LLC

Ally Bridge Group NY LLC lifted its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 40.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 106,080 shares of the biotechnology company's stock after acquiring an additional 30,442 shares during the period. Blueprint Medicines accounts for approximately 5.3% of Ally Bridge Group NY LLC's portfolio, making the stock its 5th biggest position. Ally Bridge Group NY LLC owned about 0.17% of Blueprint Medicines worth $9,812,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. O Shaughnessy Asset Management LLC lifted its holdings in Blueprint Medicines by 23.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 2,971 shares of the biotechnology company's stock valued at $282,000 after acquiring an additional 573 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Blueprint Medicines by 3.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 6,834 shares of the biotechnology company's stock valued at $648,000 after purchasing an additional 256 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Blueprint Medicines in the 1st quarter valued at $251,000. Kennedy Capital Management LLC purchased a new position in shares of Blueprint Medicines during the 1st quarter worth $220,000. Finally, Comerica Bank increased its position in shares of Blueprint Medicines by 2,582.9% during the 1st quarter. Comerica Bank now owns 10,839 shares of the biotechnology company's stock worth $1,028,000 after purchasing an additional 10,435 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BPMC shares. JPMorgan Chase & Co. started coverage on shares of Blueprint Medicines in a research report on Thursday, November 14th. They issued an "overweight" rating and a $126.00 target price on the stock. Guggenheim upped their price objective on shares of Blueprint Medicines from $130.00 to $138.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Baird R W upgraded shares of Blueprint Medicines to a "strong-buy" rating in a report on Friday, August 2nd. Robert W. Baird upped their price target on Blueprint Medicines from $112.00 to $127.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. Finally, HC Wainwright reiterated a "buy" rating and issued a $135.00 price objective on shares of Blueprint Medicines in a report 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, Blueprint Medicines presently has a consensus rating of "Moderate Buy" and an average target price of $122.11.

Blueprint Medicines Stock Up 0.5 %

Blueprint Medicines stock traded up $0.47 during midday trading on Thursday, reaching $95.10. The company's stock had a trading volume of 813,528 shares, compared to its average volume of 692,660. The company has a market cap of $6.04 billion, a P/E ratio of -45.07 and a beta of 0.59. The company has a quick ratio of 3.27, a current ratio of 3.32 and a debt-to-equity ratio of 1.09. The business has a 50-day simple moving average of $90.79 and a 200-day simple moving average of $98.25. Blueprint Medicines Co. has a fifty-two week low of $67.00 and a fifty-two week high of $121.90.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.08. The business had revenue of $128.20 million for the quarter, compared to analyst estimates of $127.56 million. Blueprint Medicines had a negative return on equity of 112.30% and a negative net margin of 29.48%. The business's quarterly revenue was up 126.5% on a year-over-year basis. During the same quarter last year, the company earned ($2.20) EPS. On average, research analysts expect that Blueprint Medicines Co. will post -3.68 earnings per share for the current fiscal year.

Insider Transactions at Blueprint Medicines

In other Blueprint Medicines 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 approximately $6,169,332.40. This trade represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.21% of the company's stock.

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.