Fred Alger Management LLC Acquires 31,675 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Fred Alger Management LLC grew its holdings in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 187.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 48,588 shares of the biotechnology company's stock after purchasing an additional 31,675 shares during the quarter. Fred Alger Management LLC owned approximately 0.08% of Blueprint Medicines worth $5,237,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Gilbert & Cook Inc. boosted its stake in Blueprint Medicines by 8.5% during the 4th quarter. Gilbert & Cook Inc. now owns 4,846 shares of the biotechnology company's stock worth $447,000 after acquiring an additional 380 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Blueprint Medicines by 1.7% during the fourth quarter. Principal Financial Group Inc. now owns 14,510 shares of the biotechnology company's stock worth $1,338,000 after acquiring an additional 247 shares in the last quarter. Axiom Investors LLC DE acquired a new position in Blueprint Medicines in the fourth quarter valued at about $2,212,000. Eagle Asset Management Inc. increased its holdings in shares of Blueprint Medicines by 10.7% in the fourth quarter. Eagle Asset Management Inc. now owns 231,396 shares of the biotechnology company's stock worth $21,344,000 after acquiring an additional 22,279 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Blueprint Medicines by 3.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 135,969 shares of the biotechnology company's stock worth $12,542,000 after purchasing an additional 4,746 shares during the period.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, insider Philina Lee sold 41,913 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the completion of the sale, 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 is accessible through the SEC website. In other Blueprint Medicines news, insider Debra Durso-Bumpus sold 8,817 shares of the firm's stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $111.29, for a total value of $981,243.93. Following the completion of the sale, the insider now directly owns 43,763 shares in the company, valued at $4,870,384.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Philina Lee sold 41,913 shares of the company's stock in a transaction dated Monday, August 5th. The shares were 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 in the company, valued at approximately $3,236,395.51. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,580 shares of company stock worth $5,315,236. Insiders own 4.21% of the company's stock.

Blueprint Medicines Trading Up 2.4 %

NASDAQ BPMC opened at $89.06 on Friday. The company has a market cap of $5.58 billion, a price-to-earnings ratio of -18.52 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. 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 business's fifty day moving average is $95.53 and its 200 day moving average is $98.91.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $138.20 million during the quarter, compared to analyst estimates of $104.02 million. During the same quarter last year, the business earned ($2.19) EPS. The firm's quarterly revenue was up 139.9% on a year-over-year basis. As a group, sell-side analysts expect that Blueprint Medicines Co. will post -3.99 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on BPMC. JMP Securities restated a "market outperform" rating and issued a $125.00 price target on shares of Blueprint Medicines in a report on Friday, June 7th. Needham & Company LLC restated 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 raised 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 note on Friday, July 12th. Barclays boosted their price objective on shares of Blueprint Medicines from $75.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Monday, July 29th. Finally, Guggenheim raised their target price on shares of Blueprint Medicines from $130.00 to $138.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.