Alliancebernstein L.P. Lowers Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Alliancebernstein L.P. lowered its stake in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 6.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,138,022 shares of the biotechnology company's stock after selling 79,683 shares during the quarter. Alliancebernstein L.P. owned about 1.79% of Blueprint Medicines worth $99,258,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in BPMC. Quantbot Technologies LP acquired a new stake in shares of Blueprint Medicines during the third quarter worth about $108,000. Captrust Financial Advisors boosted its position in shares of Blueprint Medicines by 3.4% during the third quarter. Captrust Financial Advisors now owns 17,904 shares of the biotechnology company's stock worth $1,656,000 after buying an additional 582 shares during the period. Verition Fund Management LLC grew its stake in shares of Blueprint Medicines by 77.5% during the 3rd quarter. Verition Fund Management LLC now owns 9,759 shares of the biotechnology company's stock worth $903,000 after acquiring an additional 4,260 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Blueprint Medicines by 161.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 496,087 shares of the biotechnology company's stock valued at $45,888,000 after buying an additional 306,079 shares during the last quarter. Finally, Readystate Asset Management LP bought a new position in shares of Blueprint Medicines in the 3rd quarter valued at about $5,226,000.

Insider Activity

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

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Analysts Set New Price Targets

Several research firms recently weighed in on BPMC. Morgan Stanley began coverage on shares of Blueprint Medicines in a research note on Thursday, March 20th. They issued an "equal weight" rating and a $100.00 target price for the company. Scotiabank began coverage on shares of Blueprint Medicines in a research report on Friday, March 7th. They issued a "sector outperform" rating and a $150.00 target price for the company. Wolfe Research started coverage on shares of Blueprint Medicines in a report on Tuesday, March 18th. They issued an "outperform" rating for the company. JPMorgan Chase & Co. increased their target price on shares of Blueprint Medicines from $126.00 to $129.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Finally, Wedbush reiterated an "outperform" rating and issued a $128.00 price target on shares of Blueprint Medicines in a research report on Friday, February 28th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Blueprint Medicines has an average rating of "Moderate Buy" and an average price target of $124.95.

Blueprint Medicines Stock Down 3.6 %

BPMC stock traded down $2.97 during midday trading on Monday, reaching $78.72. 681,662 shares of the company's stock traded hands, compared to its average volume of 742,260. The company has a market cap of $5.03 billion, a price-to-earnings ratio of -72.90 and a beta of 0.75. The firm's fifty day moving average price is $95.52 and its 200-day moving average price is $94.03. Blueprint Medicines Co. has a 52 week low of $76.49 and a 52 week high of $121.90. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. As a group, sell-side analysts forecast that Blueprint Medicines Co. will post -1.28 earnings per share for the current fiscal year.

Blueprint Medicines Company 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.