Ally Bridge Group NY LLC Decreases Stake in Blueprint Medicines Co. (NASDAQ:BPMC)

Ally Bridge Group NY LLC trimmed its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 47.3% in the 4th quarter, Holdings Channel reports. The firm owned 55,892 shares of the biotechnology company’s stock after selling 50,188 shares during the quarter. Blueprint Medicines accounts for 4.1% of Ally Bridge Group NY LLC’s holdings, making the stock its 8th largest position. Ally Bridge Group NY LLC’s holdings in Blueprint Medicines were worth $4,875,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. R Squared Ltd purchased a new stake in shares of Blueprint Medicines in the fourth quarter worth $51,000. Headlands Technologies LLC bought a new position in Blueprint Medicines in the 4th quarter worth about $65,000. Thematics Asset Management purchased a new stake in shares of Blueprint Medicines in the 4th quarter valued at about $72,000. Covestor Ltd boosted its position in shares of Blueprint Medicines by 62.7% during the 4th quarter. Covestor Ltd now owns 973 shares of the biotechnology company’s stock valued at $85,000 after acquiring an additional 375 shares during the last quarter. Finally, Asset Management One Co. Ltd. purchased a new position in shares of Blueprint Medicines during the fourth quarter worth about $88,000.

Blueprint Medicines Trading Up 10.9 %

Shares of BPMC stock opened at $99.25 on Friday. The stock’s 50 day simple moving average is $87.42 and its two-hundred day simple moving average is $93.20. Blueprint Medicines Co. has a 1 year low of $73.04 and a 1 year high of $121.90. The company has a market cap of $6.34 billion, a PE ratio of -91.90 and a beta of 0.75. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.43. Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. The firm had revenue of $149.41 million during the quarter, compared to analysts’ expectations of $158.31 million. During the same period in the previous year, the company earned $1.40 EPS. The firm’s revenue for the quarter was up 55.5% compared to the same quarter last year. Research analysts predict that Blueprint Medicines Co. will post -1.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Blueprint Medicines from $126.00 to $129.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Jefferies Financial Group assumed coverage on shares of Blueprint Medicines in a research report on Monday, March 17th. They set a “buy” rating and a $135.00 price objective on the stock. Scotiabank assumed coverage on shares of Blueprint Medicines in a report on Friday, March 7th. They set a “sector outperform” rating and a $150.00 price objective for the company. Wedbush reissued an “outperform” rating and issued a $128.00 target price on shares of Blueprint Medicines in a research note on Thursday. Finally, Piper Sandler lifted their price target on Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Blueprint Medicines presently has an average rating of “Moderate Buy” and an average target price of $124.53.

Insider Buying and Selling

In other news, insider Ariel Hurley sold 3,203 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.62, for a total value of $296,661.86. Following the transaction, the insider now directly owns 18,270 shares in the company, valued at approximately $1,692,167.40. This represents a 14.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $95.02, for a total transaction of $216,075.48. Following the sale, the chief operating officer now owns 69,266 shares of the company’s stock, valued at $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 owned by corporate insiders.

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.