Blueprint Medicines Co. (NASDAQ:BPMC) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC lowered its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 22.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 25,623 shares of the biotechnology company’s stock after selling 7,487 shares during the quarter. Fred Alger Management LLC’s holdings in Blueprint Medicines were worth $2,235,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in BPMC. Frontier Capital Management Co. LLC boosted its position in Blueprint Medicines by 401.6% in the fourth quarter. Frontier Capital Management Co. LLC now owns 105,130 shares of the biotechnology company’s stock valued at $9,169,000 after buying an additional 84,171 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Blueprint Medicines by 9.4% in the 4th quarter. Deutsche Bank AG now owns 261,363 shares of the biotechnology company’s stock valued at $22,796,000 after acquiring an additional 22,412 shares during the last quarter. DAFNA Capital Management LLC increased its stake in shares of Blueprint Medicines by 23.0% in the fourth quarter. DAFNA Capital Management LLC now owns 149,763 shares of the biotechnology company’s stock worth $13,062,000 after acquiring an additional 28,000 shares during the period. Brevan Howard Capital Management LP raised its holdings in shares of Blueprint Medicines by 48.5% during the fourth quarter. Brevan Howard Capital Management LP now owns 17,751 shares of the biotechnology company’s stock worth $1,548,000 after purchasing an additional 5,794 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in Blueprint Medicines by 90.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 102,486 shares of the biotechnology company’s stock valued at $8,939,000 after purchasing an additional 48,736 shares during the period.

Insider Transactions at Blueprint Medicines

In other Blueprint Medicines news, insider Ariel Hurley sold 3,203 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.62, for a total transaction of $296,661.86. Following the completion of the sale, the insider now owns 18,270 shares of the company’s stock, valued at $1,692,167.40. This trade represents a 14.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Christina Rossi sold 2,274 shares of the company’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $101.75, for a total value of $231,379.50. Following the completion of the transaction, the chief operating officer now directly owns 66,992 shares in the company, valued at approximately $6,816,436. This trade represents a 3.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,503 shares of company stock worth $1,027,931 in the last 90 days. Insiders own 4.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a research report on Friday, May 2nd. Needham & Company LLC lowered their price objective on Blueprint Medicines from $133.00 to $130.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Morgan Stanley began coverage on shares of Blueprint Medicines in a report on Thursday, March 20th. They issued an “equal weight” rating and a $100.00 price objective for the company. Scotiabank began coverage on shares of Blueprint Medicines in a research note on Friday, March 7th. They set a “sector outperform” rating and a $150.00 target price on the stock. Finally, Jefferies Financial Group assumed coverage on Blueprint Medicines in a research note on Monday, March 17th. They issued a “buy” rating and a $135.00 price target for the company. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Blueprint Medicines has a consensus rating of “Moderate Buy” and a consensus target price of $126.56.

Blueprint Medicines Stock Performance

NASDAQ BPMC opened at $97.74 on Friday. Blueprint Medicines Co. has a fifty-two week low of $73.04 and a fifty-two week high of $121.90. The firm has a market capitalization of $6.31 billion, a P/E ratio of -90.50 and a beta of 0.83. The stock’s fifty day moving average is $88.49 and its two-hundred day moving average is $93.74. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85.

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

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.