Lifesci Capital Begins Coverage on BlossomHill Therapeutics (NASDAQ:BLSM)

Key Points

• Lifesci Capital initiated coverage of BlossomHill Therapeutics with an “outperform” rating and a $32 price target, implying 72.41% upside from the prior close.
• Analyst sentiment is broadly positive: recent targets range from $28 to $36, with the stock carrying an average “Buy” rating and a consensus price target of $32.20.
• Insiders purchased 1.57 million shares worth $25.2 million over the past three months, including a $10 million purchase by Orbimed Advisors; BLSM recently traded at $18.56.

Lifesci Capital assumed coverage on shares of BlossomHill Therapeutics (NASDAQ:BLSM - Get Free Report) in a report issued on Tuesday, Benzinga reports. The brokerage set an "outperform" rating and a $32.00 price target on the stock. Lifesci Capital's target price indicates a potential upside of 72.41% from the company's previous close.

Other analysts also recently issued reports about the company. HC Wainwright initiated coverage on BlossomHill Therapeutics in a report on Tuesday. They issued a "buy" rating and a $35.00 price objective for the company. Guggenheim began coverage on BlossomHill Therapeutics in a research report on Tuesday. They issued a "buy" rating and a $30.00 price target on the stock. JPMorgan Chase & Co. began coverage on BlossomHill Therapeutics in a research report on Tuesday. They issued an "overweight" rating and a $28.00 price target on the stock. Wall Street Zen upgraded BlossomHill Therapeutics to a "hold" rating in a research report on Saturday, August 15th. Finally, Leerink Partners set a $36.00 price objective on BlossomHill Therapeutics and gave the stock an "outperform" rating in a research report on Tuesday. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, BlossomHill Therapeutics presently has an average rating of "Buy" and an average target price of $32.20.

BlossomHill Therapeutics Stock Performance

NASDAQ BLSM traded up $0.26 on Tuesday, hitting $18.56. The company's stock had a trading volume of 84,527 shares, compared to its average volume of 222,985. BlossomHill Therapeutics has a 1-year low of $15.25 and a 1-year high of $20.61.

Insider Buying and Selling at BlossomHill Therapeutics

In other news, General Counsel Vincent Paul Liptak bought 2,500 shares of the company's stock in a transaction that occurred on Friday, August 7th. The shares were 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 directly owned 109,212 shares in the company, valued at approximately $1,725,549.60. This represents a 2.34% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Orbimed Advisors Llc purchased 625,000 shares of the business'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 transaction, 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 1,573,900 shares of company stock valued at $25,181,900 over the last three months.

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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