Lord Abbett & CO. LLC Trims Stake in Blueprint Medicines Co. (NASDAQ:BPMC)

Lord Abbett & CO. LLC decreased its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 71.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 335,043 shares of the biotechnology company's stock after selling 843,147 shares during the period. Lord Abbett & CO. LLC owned 0.53% of Blueprint Medicines worth $29,223,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in BPMC. Vanguard Group Inc. increased its position in Blueprint Medicines by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 6,774,884 shares of the biotechnology company's stock worth $590,905,000 after purchasing an additional 91,450 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Blueprint Medicines by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,679,089 shares of the biotechnology company's stock valued at $495,331,000 after buying an additional 291,822 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Blueprint Medicines by 8.0% during 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 buying an additional 316,754 shares during the period. William Blair Investment Management LLC boosted its position in Blueprint Medicines by 16.1% during the fourth quarter. William Blair Investment Management LLC now owns 1,944,695 shares of the biotechnology company's stock worth $169,616,000 after acquiring an additional 269,896 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Blueprint Medicines by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,490,101 shares of the biotechnology company's stock worth $129,996,000 after acquiring an additional 9,914 shares during the period.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Wolfe Research initiated coverage on Blueprint Medicines in a report on Tuesday, March 18th. They set an "outperform" rating on the stock. Morgan Stanley initiated coverage on Blueprint Medicines in a report on Thursday, March 20th. They issued an "equal weight" rating and a $100.00 price target for the company. Scotiabank began 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 on the stock. JPMorgan Chase & Co. boosted their target price on shares of Blueprint Medicines from $126.00 to $129.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $135.00 price target on shares of Blueprint Medicines in a research note on Friday, February 14th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $124.68.

Insider Buying and Selling at Blueprint Medicines

In other news, 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 transaction of $216,075.48. Following the transaction, the chief operating officer now owns 69,266 shares of the company's stock, valued at approximately $6,581,655.32. This trade represents a 3.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ariel Hurley sold 3,203 shares of Blueprint Medicines stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.62, for a total value of $296,661.86. Following the completion of the transaction, the insider now 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 disclosure for this sale can be found here. 4.21% of the stock is currently owned by corporate insiders.

Blueprint Medicines Stock Performance

Blueprint Medicines stock opened at $87.66 on Friday. Blueprint Medicines Co. has a 12-month low of $73.04 and a 12-month 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. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of -81.17 and a beta of 0.75. The firm's fifty day moving average price is $87.57 and its 200 day moving average price is $93.14.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) 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%. On average, research analysts forecast that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.