Alliancebernstein L.P. Sells 79,683 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Alliancebernstein L.P. lowered its holdings in Blueprint Medicines Co. (NASDAQ:BPMC) by 6.5% during the fourth quarter, according to the company in its most recent Form 13F 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.’s holdings in Blueprint Medicines were worth $99,258,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Empirical Asset Management LLC bought a new stake in shares of Blueprint Medicines in the 4th quarter valued at approximately $2,348,000. Stephens Inc. AR bought a new stake in Blueprint Medicines in the fourth quarter valued at $321,000. Bank of New York Mellon Corp raised its stake in Blueprint Medicines by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 303,432 shares of the biotechnology company’s stock worth $26,465,000 after acquiring an additional 7,101 shares in the last quarter. KBC Group NV lifted its holdings in shares of Blueprint Medicines by 63.9% during the fourth quarter. KBC Group NV now owns 2,625 shares of the biotechnology company’s stock valued at $229,000 after acquiring an additional 1,023 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Blueprint Medicines in the 4th quarter valued at $21,104,000.

Insiders Place Their Bets

In other Blueprint Medicines news, CEO Kate Haviland sold 1,446 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total value of $159,407.04. Following the completion of the sale, the chief executive officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $95.02, for a total value of $216,075.48. Following the transaction, the chief operating officer now owns 69,266 shares in the company, valued at $6,581,655.32. This trade represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,608 shares of company stock worth $3,319,587. Company insiders own 4.21% of the company’s stock.

Blueprint Medicines Trading Up 4.7 %

Shares of NASDAQ BPMC opened at $90.01 on Thursday. Blueprint Medicines Co. has a fifty-two week low of $80.68 and a fifty-two 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. The firm has a market capitalization of $5.75 billion, a P/E ratio of -83.34 and a beta of 0.75. The company’s 50 day simple moving average is $96.75 and its 200 day simple moving average is $94.02.

Blueprint Medicines (NASDAQ:BPMC) last posted its 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%. On average, analysts predict that Blueprint Medicines Co. will post -1.28 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Piper Sandler increased their target price on shares of Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $133.00 price objective on shares of Blueprint Medicines in a report on Thursday, February 13th. Guggenheim reissued a “buy” rating on shares of Blueprint Medicines in a report on Wednesday, December 11th. Scotiabank assumed coverage on Blueprint Medicines in a report on Friday, March 7th. They set a “sector outperform” rating and a $150.00 price target for the company. Finally, Stephens reiterated an “overweight” rating and issued a $140.00 price objective on shares of Blueprint Medicines in a research report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $124.95.

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.