BlossomHill Therapeutics (NASDAQ:BLSM) Trading Up 5.8% – Still a Buy?

BlossomHill Therapeutics, Inc. (NASDAQ:BLSM) shares shot up 5.8% during trading on Wednesday . The company traded as high as $23.60 and last traded at $23.46. 35,999 shares traded hands during trading, a decline of 82% from the average daily volume of 197,364 shares. The stock had previously closed at $22.17.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Leerink Partners initiated coverage on BlossomHill Therapeutics in a research report on Tuesday, September 1st. They issued an “outperform” rating and a $36.00 price objective on the stock. HC Wainwright started coverage on BlossomHill Therapeutics in a report on Tuesday, September 1st. They set a “buy” rating and a $35.00 target price for the company. Wall Street Zen raised BlossomHill Therapeutics to a “hold” rating in a research note on Saturday, August 15th. Lifesci Capital started coverage on shares of BlossomHill Therapeutics in a research report on Tuesday, September 1st. They set an “outperform” rating and a $32.00 price objective on the stock. Finally, Zacks Research upgraded shares of BlossomHill Therapeutics to a “hold” rating in a report on Wednesday, September 2nd. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.20.

BlossomHill Therapeutics Price Performance

Insiders Place Their Bets

In other news, General Counsel Vincent Liptak acquired 2,500 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was acquired at an average price of $15.80 per share, for a total transaction of $39,500.00. Following the completion of the acquisition, the general counsel owned 109,212 shares in the company, valued at $1,725,549.60. This trade represents a 2.34% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John P. Schmid acquired 6,000 shares of the stock in a transaction on Monday, August 10th. The shares were purchased at an average cost of $16.00 per share, with a total value of $96,000.00. Following the transaction, the director directly owned 6,000 shares of the company’s stock, valued at approximately $96,000. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 1,573,900 shares of company stock valued at $25,181,900 in the last 90 days.

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.