BlossomHill Therapeutics (NASDAQ:BLSM) Upgraded to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded BlossomHill Therapeutics (NASDAQ:BLSM) from “sell” to “hold,” while broader analyst sentiment remains “Moderate Buy,” with five Buy ratings and one Hold rating and an average price target of $35.
• BLSM shares opened at $14.63, well below the $19.16 50-day moving average, and trade within a 52-week range of $12.93 to $27.99. The company reported a quarterly loss of $8.75 per share, missing estimates by $7.91.
• Insiders bought heavily: company directors purchased 1,573,900 shares worth approximately $25.2 million during the last quarter, including two $10 million purchases at $16 per share.

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

Several other equities analysts have also commented on the company. HC Wainwright reissued a "buy" rating on shares of BlossomHill Therapeutics in a research report on Wednesday, September 30th. Leerink Partners boosted their price objective on shares of BlossomHill Therapeutics from $36.00 to $40.00 and gave the company an "outperform" rating in a research report on Monday, September 21st. JPMorgan Chase & Co. started coverage on shares of BlossomHill Therapeutics in a report on Tuesday, September 1st. They set an "overweight" rating and a $28.00 price target for the company. Lifesci Capital assumed coverage on BlossomHill Therapeutics in a report on Tuesday, September 1st. They set an "outperform" rating and a $32.00 price target on the stock. Finally, Guggenheim lifted their price target on BlossomHill Therapeutics from $30.00 to $40.00 and gave the company a "buy" rating in a research report on Monday, September 21st. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $35.00.

BlossomHill Therapeutics Price Performance

Shares of NASDAQ BLSM opened at $14.63 on Friday. The company's fifty day moving average is $19.16. BlossomHill Therapeutics has a 52-week low of $12.93 and a 52-week high of $27.99.

BlossomHill Therapeutics (NASDAQ:BLSM - Get Free Report) last announced 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). As a group, sell-side analysts expect that BlossomHill Therapeutics will post -5.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Orbimed Advisors Llc purchased 625,000 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was bought 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. The trade was a 29.91% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Carl L. Gordon acquired 625,000 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were purchased 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 owned 2,714,279 shares in the company, valued at $43,428,464. This trade represents a 29.91% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 1,573,900 shares of company stock worth $25,181,900 in the last quarter.

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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