BlossomHill Therapeutics (NASDAQ:BLSM) Upgraded to Strong-Buy at HC Wainwright

Key Points

• HC Wainwright upgraded BlossomHill Therapeutics to “strong buy,” contributing to a consensus “Strong Buy” rating and an average analyst price target of $32.20. Recent coverage includes price targets ranging from $28 to $36.
• BLSM opened at $18.99, compared with a 52-week range of $15.25 to $20.61, indicating substantial upside to analysts’ targets.
• Insiders have been buying shares: directors acquired 1,573,900 shares worth approximately $25.2 million over the past 90 days, including a $10 million purchase by Carl L. Gordon.

BlossomHill Therapeutics (NASDAQ:BLSM - Get Free Report) was upgraded by HC Wainwright to a "strong-buy" rating in a research report issued to clients and investors on Tuesday, Zacks reports.

Other analysts have also recently issued reports about the company. Leerink Partners began coverage on BlossomHill Therapeutics in a research note on Tuesday. They issued an "outperform" rating and a $36.00 price target for the company. Guggenheim assumed coverage on shares of BlossomHill Therapeutics in a research note on Tuesday. They set a "buy" rating and a $30.00 price objective on the stock. Lifesci Capital began coverage on shares of BlossomHill Therapeutics in a report on Tuesday. They set an "outperform" rating and a $32.00 price objective for the company. Wall Street Zen raised shares of BlossomHill Therapeutics to a "hold" rating in a research note on Saturday, August 15th. Finally, JPMorgan Chase & Co. initiated coverage on shares of BlossomHill Therapeutics in a research report on Tuesday. They set an "overweight" rating and a $28.00 price target on the stock. Three investment analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Strong Buy" and an average price target of $32.20.

BlossomHill Therapeutics Stock Performance

NASDAQ:BLSM opened at $18.99 on Tuesday. BlossomHill Therapeutics has a 1-year low of $15.25 and a 1-year high of $20.61.

Insider Activity

In related news, Director Carl L. Gordon bought 625,000 shares of the company's stock in a transaction on Monday, August 10th. The shares were purchased at an average cost of $16.00 per share, for a total transaction of $10,000,000.00. Following the acquisition, the director owned 2,714,279 shares of the company's stock, valued at approximately $43,428,464. This represents a 29.91% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John P. Schmid purchased 6,000 shares of the business's stock in a transaction on Monday, August 10th. The stock was bought at an average cost of $16.00 per share, for a total transaction of $96,000.00. Following the purchase, the director owned 6,000 shares of the company's stock, valued at approximately $96,000. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders acquired 1,573,900 shares of company stock worth $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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