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

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

Other hedge funds have also bought and sold shares of the company. Exome Asset Management LLC bought a new position in shares of Blueprint Medicines in the third quarter valued at $3,395,000. Franklin Resources Inc. boosted its stake in Blueprint Medicines by 0.7% during the 3rd quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company’s stock valued at $3,259,000 after purchasing an additional 265 shares during the last quarter. Synovus Financial Corp boosted its stake in Blueprint Medicines by 4.0% during the 3rd quarter. Synovus Financial Corp now owns 24,047 shares of the biotechnology company’s stock valued at $2,224,000 after purchasing an additional 922 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Blueprint Medicines during the third quarter worth $202,000. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in Blueprint Medicines by 23.7% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 16,520 shares of the biotechnology company’s stock worth $1,528,000 after acquiring an additional 3,162 shares during the last quarter.

Blueprint Medicines Stock Up 0.7 %

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

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

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of Blueprint Medicines stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total transaction of $324,499.56. Following the completion of the sale, the insider now owns 69,070 shares of the company’s stock, valued at $6,169,332.40. The trade was a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Christina Rossi sold 2,274 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $95.10, for a total value of $216,257.40. Following the transaction, the chief operating officer now owns 71,657 shares in the company, valued at $6,814,580.70. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,260 shares of company stock valued at $768,057 over the last three months. 4.21% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BPMC. JMP Securities reissued a “market outperform” rating and set a $125.00 price target on shares of Blueprint Medicines in a research report on Monday, December 9th. HC Wainwright reaffirmed a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a report on Friday, November 15th. StockNews.com raised Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. UBS Group started coverage on Blueprint Medicines in a research report on Thursday, October 24th. They set a “neutral” rating and a $88.00 target price for the company. Finally, Wedbush reissued an “outperform” rating and issued a $135.00 price target on shares of Blueprint Medicines in a report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $122.11.

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.