BlossomHill Therapeutics (NASDAQ:BLSM) Shares Climb 5.6% – Here’s Why

BlossomHill Therapeutics, Inc. (NASDAQ:BLSM)’s share price was up 5.6% on Monday. The company traded as high as $21.08 and last traded at $20.85. 81,942 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 225,367 shares. The stock had previously closed at $19.75.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Leerink Partners increased their target price on BlossomHill Therapeutics from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, September 21st. Zacks Research upgraded BlossomHill Therapeutics to a “hold” rating in a research note on Wednesday, September 2nd. Lifesci Capital assumed coverage on BlossomHill Therapeutics in a research note on Tuesday, September 1st. They set an “outperform” rating and a $32.00 price objective on the stock. Guggenheim increased their price objective on BlossomHill Therapeutics from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, September 21st. Finally, Wall Street Zen upgraded BlossomHill Therapeutics to a “hold” rating in a research note on Saturday, August 15th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, BlossomHill Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

BlossomHill Therapeutics Price Performance

BlossomHill Therapeutics (NASDAQ:BLSM) last issued its quarterly earnings data on Friday, September 18th. The company reported ($8.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($7.91). On average, research analysts forecast that BlossomHill Therapeutics, Inc. will post -5.54 earnings per share for the current year.

Insider Activity

In other BlossomHill Therapeutics news, General Counsel Vincent Liptak purchased 2,200 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was purchased at an average price of $16.00 per share, for a total transaction of $35,200.00. Following the transaction, the general counsel owned 111,412 shares in the company, valued at $1,782,592. The trade was a 2.01% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Carl Gordon acquired 625,000 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were acquired at an average cost 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 SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 1,573,900 shares of company stock worth $25,181,900.

About BlossomHill Therapeutics

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.