Morgan Stanley trimmed its position in Blueprint Medicines Corp (NASDAQ:BPMC) by 68.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,482 shares of the biotechnology company’s stock after selling 256,940 shares during the quarter. Morgan Stanley owned 0.27% of Blueprint Medicines worth $9,093,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Candriam Luxembourg S.C.A. raised its holdings in shares of Blueprint Medicines by 2.3% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 45,000 shares of the biotechnology company’s stock valued at $3,513,000 after buying an additional 1,000 shares during the period. Jennison Associates LLC raised its holdings in shares of Blueprint Medicines by 0.8% during the 3rd quarter. Jennison Associates LLC now owns 222,540 shares of the biotechnology company’s stock valued at $17,371,000 after buying an additional 1,658 shares during the period. Public Employees Retirement Association of Colorado raised its holdings in shares of Blueprint Medicines by 56.7% during the 3rd quarter. Public Employees Retirement Association of Colorado now owns 4,718 shares of the biotechnology company’s stock valued at $368,000 after buying an additional 1,708 shares during the period. BlueMountain Capital Management LLC purchased a new stake in shares of Blueprint Medicines during the 3rd quarter valued at about $140,000. Finally, Fernwood Investment Management LLC purchased a new stake in shares of Blueprint Medicines during the 3rd quarter valued at about $210,000.

Shares of NASDAQ BPMC opened at $73.14 on Monday. Blueprint Medicines Corp has a fifty-two week low of $44.58 and a fifty-two week high of $109.00. The company has a quick ratio of 10.05, a current ratio of 10.05 and a debt-to-equity ratio of 0.03. The company has a market cap of $3.21 billion, a price-to-earnings ratio of -18.66 and a beta of 1.61.

Several equities research analysts recently commented on the company. Zacks Investment Research downgraded Blueprint Medicines from a “hold” rating to a “sell” rating in a report on Friday, November 2nd. BidaskClub upgraded Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Thursday, October 18th. Wedbush reiterated an “outperform” rating and set a $101.00 target price on shares of Blueprint Medicines in a report on Monday, October 22nd. Cowen reiterated a “buy” rating on shares of Blueprint Medicines in a report on Thursday, November 15th. Finally, ValuEngine upgraded Blueprint Medicines from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 17th. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Blueprint Medicines has an average rating of “Buy” and an average price target of $103.25.

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Blueprint Medicines Profile

Blueprint Medicines Corporation, a biopharmaceutical company, develops drugs of small molecule kinase inhibitors that target genomic drivers in various cancers and a rare genetic disease. Its lead drug candidates include avapritinib, which is in Phase I clinical trials that targets KIT Exon 17 mutant proteins and PDGFRa D842V mutations, that are drivers of cancer and proliferative disorders, including gastrointestinal stromal tumors and systemic mastocytosis; and BLU-554, which is in Phase I clinical trials an orally available, potent, and irreversible inhibitor of the kinase FGFR4 that is activated in a defined subset of patients with hepatocellular carcinoma.

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Institutional Ownership by Quarter for Blueprint Medicines (NASDAQ:BPMC)

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