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

BlossomHill Therapeutics, Inc. (NASDAQ:BLSM) 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 trading hands. The stock had previously closed at $25.74.

Several other brokerages have also recently issued reports on BLSM. Lifesci Capital assumed coverage on BlossomHill Therapeutics in a report on Tuesday, September 1st. They set an “outperform” rating and a $32.00 price objective on the stock. Wall Street Zen raised shares of BlossomHill Therapeutics to a “hold” rating in a report on Saturday, August 15th. JPMorgan Chase & Co. began coverage on shares of BlossomHill Therapeutics in a research report on Tuesday, September 1st. They issued an “overweight” rating and a $28.00 price target on the stock. Zacks Research raised shares of BlossomHill Therapeutics to a “hold” rating in a research note on Wednesday, September 2nd. Finally, 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 price objective for the company. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, BlossomHill Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

Insider Activity at BlossomHill Therapeutics

In related news, Director Orbimed Advisors Llc acquired 625,000 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were acquired at an average cost of $16.00 per share, for a total transaction of $10,000,000.00. Following the completion of the transaction, the director directly owned 2,714,279 shares in the company, valued at approximately $43,428,464. This trade represents a 29.91% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carl Gordon acquired 625,000 shares of the stock in a transaction dated Monday, August 10th. The stock was bought at an average cost of $16.00 per share, with a total value of $10,000,000.00. Following the completion of the purchase, the director directly owned 2,714,279 shares in the company, valued at approximately $43,428,464. The trade was a 29.91% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 1,573,900 shares of company stock valued at $25,181,900 over the last ninety days.

BlossomHill Therapeutics Price Performance

BlossomHill Therapeutics (NASDAQ:BLSM) last issued its quarterly earnings results on Friday, September 18th. The company reported ($8.75) EPS for the quarter, missing the consensus estimate of ($0.84) by ($7.91). On average, sell-side analysts anticipate 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.