BlossomHill Therapeutics (NASDAQ:BLSM) Cut to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded BlossomHill Therapeutics to “sell” from “hold,” despite broader analyst optimism. Five analysts rate the stock a Buy and one a Hold, producing a consensus “Moderate Buy” rating with an average price target of $35.
• BlossomHill shares opened at $19.69, up 5.9%, but the company reported a significant quarterly EPS miss of $8.75 versus the $0.84 consensus estimate.
• Insiders have shown strong buying activity, acquiring 1.57 million shares worth approximately $25.2 million over the past 90 days, including a $10 million purchase by Orbimed Advisors.

BlossomHill Therapeutics (NASDAQ:BLSM - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday, Wall Street Zen reports.

Several other equities analysts have also issued reports on BLSM. Lifesci Capital initiated 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. Zacks Research raised BlossomHill Therapeutics to a "hold" rating in a report on Wednesday, September 2nd. Guggenheim upped their target price on BlossomHill Therapeutics from $30.00 to $40.00 and gave the company a "buy" rating in a research report on Monday, September 21st. JPMorgan Chase & Co. initiated coverage on BlossomHill Therapeutics in a research note on Tuesday, September 1st. They set an "overweight" rating and a $28.00 price target on the stock. Finally, HC Wainwright restated a "buy" rating on shares of BlossomHill Therapeutics in a research note on Wednesday. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $35.00.

BlossomHill Therapeutics Stock Up 5.9%

Shares of BlossomHill Therapeutics stock opened at $19.69 on Friday. The firm has a fifty day moving average of $19.89. BlossomHill Therapeutics has a 12-month low of $15.25 and a 12-month high of $27.99.

BlossomHill Therapeutics (NASDAQ:BLSM - Get Free Report) last posted its earnings results on Friday, September 18th. The company reported ($8.75) EPS for the quarter, missing analysts' consensus estimates of ($0.84) by ($7.91). As a group, research analysts expect that BlossomHill Therapeutics will post -5.54 earnings per share for the current year.

Insider Activity

In other BlossomHill Therapeutics news, General Counsel Vincent Liptak acquired 2,200 shares of the company's stock in a transaction on Monday, August 10th. The shares were bought at an average cost of $16.00 per share, for a total transaction of $35,200.00. Following the completion of the purchase, the general counsel owned 111,412 shares in the company, valued at $1,782,592. This trade represents a 2.01% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Orbimed Advisors Llc bought 625,000 shares of BlossomHill Therapeutics stock in a transaction dated Monday, August 10th. The stock was acquired at an average cost of $16.00 per share, with a total value of $10,000,000.00. Following the completion of the acquisition, the director directly owned 2,714,279 shares of the company's stock, valued at approximately $43,428,464. The trade was a 29.91% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 1,573,900 shares of company stock worth $25,181,900 over the last 90 days.

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.

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