BlossomHill Therapeutics (NASDAQ:BLSM) Reaches New 52-Week High Following Analyst Upgrade

BlossomHill Therapeutics, Inc. (NASDAQ:BLSM)’s share price reached a new 52-week high on Monday after Leerink Partners raised their price target on the stock from $36.00 to $40.00. Leerink Partners currently has an outperform rating on the stock. BlossomHill Therapeutics traded as high as $27.99 and last traded at $27.50, with a volume of 57914 shares changing hands. The stock had previously closed at $25.74.

Several other research firms also recently commented on BLSM. HC Wainwright assumed coverage on shares of BlossomHill Therapeutics in a research report on Tuesday, September 1st. They set a “buy” rating and a $35.00 target price on the stock. Zacks Research raised BlossomHill Therapeutics to a “hold” rating in a report on Wednesday, September 2nd. Lifesci Capital began coverage on BlossomHill Therapeutics in a report on Tuesday, September 1st. They issued an “outperform” rating and a $32.00 target price for the company. Guggenheim increased their price target on BlossomHill Therapeutics from $30.00 to $40.00 and gave the company a “buy” rating in a report on Monday. Finally, JPMorgan Chase & Co. started coverage on shares of BlossomHill Therapeutics in a research note on Tuesday, September 1st. They issued an “overweight” rating and a $28.00 price objective for the company. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

Insider Activity

In other BlossomHill Therapeutics news, Director Orbimed Advisors Llc bought 625,000 shares of the stock in a transaction on Monday, August 10th. The shares were purchased at an average price of $16.00 per share, with a total value of $10,000,000.00. Following the acquisition, the director directly owned 2,714,279 shares of the company’s stock, valued at $43,428,464. This represents a 29.91% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Bihua Chen purchased 312,500 shares of the company’s stock in a transaction on Monday, August 10th. The stock was acquired at an average cost of $16.00 per share, for a total transaction of $5,000,000.00. Following the completion of the transaction, the director owned 3,614,034 shares in the company, valued at approximately $57,824,544. This trade represents a 9.47% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 1,573,900 shares of company stock worth $25,181,900 over the last 90 days.

BlossomHill Therapeutics Stock Down 5.8%

BlossomHill Therapeutics (NASDAQ:BLSM) last released its earnings results on Friday, September 18th. The company reported ($8.75) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($7.91). As a group, sell-side analysts predict that BlossomHill Therapeutics, Inc. will post -3.86 earnings per share for the current year.

BlossomHill Therapeutics Company Profile

BlossomHill Therapeutics Inc is a clinical-stage biopharmaceutical company applying an intentional, chemistry-based approach to design and develop small molecule medicines which address significant unmet medical needs in cancer treatment. The company’s lead clinical programs include BH-30643. BlossomHill Therapeutics Inc is headquartered in San Diego, California.