BlossomHill Therapeutics (NASDAQ:BLSM) Upgraded by Leerink Partners to "Strong-Buy" Rating

Key Points

• Leerink Partners upgraded BlossomHill Therapeutics to “strong buy,” contributing to a consensus “Strong Buy” rating from analysts and an average price target of $32.20.
• Several firms initiated coverage with positive ratings and price targets ranging from $28 to $35, while the stock opened at $18.99, up 3.8%.
• Insiders made significant purchases, including directors Bihua Chen and Carl L. Gordon buying $5 million and $10 million worth of shares, respectively. Insiders purchased 1.57 million shares valued at $25.2 million over the past 90 days.

BlossomHill Therapeutics (NASDAQ:BLSM - Get Free Report) was upgraded by equities researchers at Leerink Partners to a "strong-buy" rating in a report issued on Tuesday, Zacks reports.

Several other equities analysts have also commented on the company. HC Wainwright started coverage on BlossomHill Therapeutics in a research report on Tuesday. They set a "buy" rating and a $35.00 price objective for the company. Guggenheim started coverage on shares of BlossomHill Therapeutics in a research note on Tuesday. They issued a "buy" rating and a $30.00 price target for the company. Wall Street Zen upgraded shares of BlossomHill Therapeutics to a "hold" rating in a research note on Saturday, August 15th. Lifesci Capital began coverage on shares of BlossomHill Therapeutics in a research report on Tuesday. They set an "outperform" rating and a $32.00 price target for the company. Finally, JPMorgan Chase & Co. began coverage on shares of BlossomHill Therapeutics in a research note on Tuesday. They set an "overweight" rating and a $28.00 price objective on the stock. Three investment analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Strong Buy" and an average price target of $32.20.

BlossomHill Therapeutics Trading Up 3.8%

NASDAQ BLSM opened at $18.99 on Tuesday. BlossomHill Therapeutics has a twelve month low of $15.25 and a twelve month high of $20.61.

Insider Transactions at BlossomHill Therapeutics

In related news, Director Bihua Chen purchased 312,500 shares of the stock in a transaction dated Monday, August 10th. The stock was purchased at an average price of $16.00 per share, with a total value of $5,000,000.00. Following the transaction, the director directly owned 3,614,034 shares in the company, valued at $57,824,544. This trade represents a 9.47% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carl L. Gordon purchased 625,000 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was purchased at an average price of $16.00 per share, for a total transaction of $10,000,000.00. Following the purchase, the director owned 2,714,279 shares in the company, valued at $43,428,464. This represents a 29.91% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders bought 1,573,900 shares of company stock valued at $25,181,900.

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.

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