Blueprint Medicines Co. (NASDAQ:BPMC) Holdings Lowered by Alliancebernstein L.P.

Alliancebernstein L.P. trimmed its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 6.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,138,022 shares of the biotechnology company’s stock after selling 79,683 shares during the period. Alliancebernstein L.P. owned 1.79% of Blueprint Medicines worth $99,258,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in BPMC. Torray Investment Partners LLC grew its holdings in shares of Blueprint Medicines by 1.1% during the fourth quarter. Torray Investment Partners LLC now owns 16,499 shares of the biotechnology company’s stock valued at $1,439,000 after buying an additional 186 shares in the last quarter. Franklin Resources Inc. boosted its position in Blueprint Medicines by 0.7% during the 3rd quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company’s stock worth $3,259,000 after acquiring an additional 265 shares during the period. Hillsdale Investment Management Inc. grew its stake in Blueprint Medicines by 0.6% during the 4th quarter. Hillsdale Investment Management Inc. now owns 50,830 shares of the biotechnology company’s stock valued at $4,433,000 after acquiring an additional 310 shares in the last quarter. Quarry LP purchased a new position in Blueprint Medicines during the 3rd quarter valued at about $32,000. Finally, Van ECK Associates Corp increased its holdings in shares of Blueprint Medicines by 48.2% in the 4th quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $97,000 after purchasing an additional 363 shares during the period.

Insider Transactions at Blueprint Medicines

In related news, insider Ariel Hurley sold 2,250 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $100.00, for a total value of $225,000.00. Following the completion of the sale, the insider now owns 14,967 shares in the company, valued at approximately $1,496,700. This trade represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kate Haviland sold 1,446 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $110.24, for a total value of $159,407.04. Following the transaction, the chief executive officer now owns 149,378 shares in the company, valued at $16,467,430.72. This represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,608 shares of company stock worth $3,319,587. Insiders own 4.21% of the company’s stock.

Analysts Set New Price Targets

BPMC has been the topic of several research reports. JMP Securities reiterated a “market outperform” rating and issued a $125.00 price objective on shares of Blueprint Medicines in a research note on Friday, February 14th. Morgan Stanley assumed coverage on shares of Blueprint Medicines in a research note on Thursday, March 20th. They issued an “equal weight” rating and a $100.00 price target on the stock. Stephens reissued an “overweight” rating and set a $140.00 price objective on shares of Blueprint Medicines in a research report on Thursday, January 2nd. JPMorgan Chase & Co. boosted their target price on Blueprint Medicines from $126.00 to $129.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Finally, Jefferies Financial Group started coverage on Blueprint Medicines in a research note on Monday, March 17th. They set a “buy” rating and a $135.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $124.95.

Blueprint Medicines Stock Up 4.7 %

BPMC stock opened at $90.01 on Thursday. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of -83.34 and a beta of 0.75. The company has a 50-day moving average of $96.75 and a two-hundred day moving average of $94.02. Blueprint Medicines Co. has a 52-week low of $80.68 and a 52-week high of $121.90. 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 announced its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. As a group, equities research analysts anticipate that Blueprint Medicines Co. will post -1.28 EPS 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.