Algert Global LLC Acquires 19,936 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Algert Global LLC boosted its position in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 21.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 112,172 shares of the biotechnology company's stock after purchasing an additional 19,936 shares during the period. Algert Global LLC owned about 0.18% of Blueprint Medicines worth $9,784,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Avoro Capital Advisors LLC bought a new position in shares of Blueprint Medicines in the fourth quarter valued at about $103,356,000. Norges Bank acquired a new position in Blueprint Medicines in the 4th quarter valued at about $62,028,000. Jennison Associates LLC bought a new position in Blueprint Medicines in the 4th quarter valued at about $31,417,000. Rock Springs Capital Management LP lifted its position in Blueprint Medicines by 42.7% during the fourth quarter. Rock Springs Capital Management LP now owns 1,096,899 shares of the biotechnology company's stock worth $95,672,000 after acquiring an additional 328,123 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Blueprint Medicines by 8.0% in the fourth quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company's stock valued at $373,421,000 after purchasing an additional 316,754 shares during the last quarter.

Insider Activity

In other Blueprint Medicines news, insider Ariel Hurley sold 3,203 shares of Blueprint Medicines stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.62, for a total transaction of $296,661.86. Following the transaction, the insider now directly owns 18,270 shares of the company's stock, valued at approximately $1,692,167.40. The trade was a 14.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Christina Rossi sold 2,274 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $95.02, for a total value of $216,075.48. Following the completion of the sale, the chief operating officer now directly owns 69,266 shares of the company's stock, valued at approximately $6,581,655.32. The trade was a 3.18 % decrease in their position. The disclosure for this sale can be found here. 4.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. StockNews.com upgraded Blueprint Medicines from a "sell" rating to a "hold" rating in a research note on Friday. Jefferies Financial Group initiated coverage on shares of Blueprint Medicines in a research note on Monday, March 17th. They issued a "buy" rating and a $135.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Blueprint Medicines from $126.00 to $129.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. JMP Securities restated a "market outperform" rating and set a $125.00 target price on shares of Blueprint Medicines in a research report on Friday, February 14th. Finally, Morgan Stanley began coverage on shares of Blueprint Medicines in a research report on Thursday, March 20th. They issued an "equal weight" rating and a $100.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $127.22.

Blueprint Medicines Price Performance

Blueprint Medicines stock traded down $2.67 during mid-day trading on Tuesday, reaching $99.16. The company had a trading volume of 1,543,222 shares, compared to its average volume of 777,094. The business has a fifty day simple moving average of $88.07 and a 200 day simple moving average of $93.53. The company has a market cap of $6.34 billion, a P/E ratio of -91.81 and a beta of 0.83. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. Blueprint Medicines Co. has a fifty-two week low of $73.04 and a fifty-two week high of $121.90.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.32). The firm had revenue of $149.41 million for the quarter, compared to the consensus estimate of $158.31 million. Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. The company's revenue was up 55.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.40 EPS. On average, equities research analysts predict that Blueprint Medicines Co. will post -1.28 earnings per share for the current 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.