Lord Abbett & CO. LLC Sells 11,960 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Lord Abbett & CO. LLC reduced its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,178,190 shares of the biotechnology company’s stock after selling 11,960 shares during the quarter. Lord Abbett & CO. LLC owned 1.85% of Blueprint Medicines worth $108,983,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in Blueprint Medicines by 22.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company’s stock valued at $366,726,000 after purchasing an additional 729,055 shares during the last quarter. Millennium Management LLC lifted its position in shares of Blueprint Medicines by 540.0% in the second quarter. Millennium Management LLC now owns 627,626 shares of the biotechnology company’s stock valued at $67,646,000 after buying an additional 529,566 shares during the last quarter. 1832 Asset Management L.P. lifted its position in shares of Blueprint Medicines by 200,159.4% in the second quarter. 1832 Asset Management L.P. now owns 502,651 shares of the biotechnology company’s stock valued at $54,176,000 after buying an additional 502,400 shares during the last quarter. State Street Corp boosted its stake in shares of Blueprint Medicines by 16.2% during the 3rd quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock worth $255,827,000 after acquiring an additional 385,818 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Blueprint Medicines by 161.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 496,087 shares of the biotechnology company’s stock worth $45,888,000 after acquiring an additional 306,079 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a report on Friday, November 15th. Guggenheim reaffirmed a “buy” rating on shares of Blueprint Medicines in a report on Wednesday. Wells Fargo & Company decreased their price target on shares of Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. UBS Group started coverage on shares of Blueprint Medicines in a research report on Thursday, October 24th. They set a “neutral” rating and a $88.00 price objective for the company. Finally, Wedbush reaffirmed an “outperform” rating and issued a $135.00 target price on shares of Blueprint Medicines in a research report on Thursday, November 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Blueprint Medicines presently has an average rating of “Moderate Buy” and a consensus price target of $122.11.

Blueprint Medicines Price Performance

Shares of BPMC opened at $93.19 on Friday. The business has a 50-day moving average of $92.03 and a 200-day moving average of $97.52. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. The company has a market capitalization of $5.92 billion, a price-to-earnings ratio of -44.17 and a beta of 0.59. Blueprint Medicines Co. has a 1 year low of $72.24 and a 1 year high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.08. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. The firm had revenue of $128.20 million during the quarter, compared to analyst estimates of $127.56 million. During the same quarter last year, the business earned ($2.20) EPS. The company’s revenue was up 126.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Blueprint Medicines Co. will post -3.68 earnings per share for the current year.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $95.10, for a total value of $216,257.40. Following the transaction, the chief operating officer now directly owns 71,657 shares of the company’s stock, valued at approximately $6,814,580.70. The trade was a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kate Haviland sold 2,353 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $96.60, for a total transaction of $227,299.80. Following the sale, the chief executive officer now directly owns 150,824 shares of the company’s stock, valued at approximately $14,569,598.40. This trade represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,260 shares of company stock valued at $768,057. 4.21% of the stock is currently owned by insiders.

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.