BlossomHill Therapeutics, Inc. (NASDAQ:BLSM) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• BlossomHill Therapeutics received a “Moderate Buy” consensus rating from six analysts, with five buys and one hold. The average 12-month price target is $35, including Guggenheim’s raised target of $40.
• Company insiders bought 1.57 million shares worth approximately $25.2 million during the last quarter, including major purchases by Orbimed Advisors and Bihua Chen at $16 per share.
• The stock opened at $19.75 after declining 3.5%, while the company reported quarterly EPS of -$8.75, missing the consensus estimate of -$0.84 by $7.91.

BlossomHill Therapeutics, Inc. (NASDAQ:BLSM - Get Free Report) has earned a consensus rating of "Moderate Buy" from the six brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $35.00.

Several analysts recently weighed in on the company. Guggenheim increased their target price on BlossomHill Therapeutics from $30.00 to $40.00 and gave the company a "buy" rating in a research note on Monday. Wall Street Zen upgraded BlossomHill Therapeutics to a "hold" rating in a research report on Saturday, August 15th. Zacks Research raised shares of BlossomHill Therapeutics to a "hold" rating in a research note on Wednesday, September 2nd. JPMorgan Chase & Co. started coverage on shares of BlossomHill Therapeutics in a research note on Tuesday, September 1st. They issued an "overweight" rating and a $28.00 price target for the company. Finally, Lifesci Capital started coverage on BlossomHill Therapeutics in a report on Tuesday, September 1st. They set an "outperform" rating and a $32.00 price objective for the company.

Insider Buying and Selling

In related news, Director Orbimed Advisors Llc bought 625,000 shares of the firm's stock in a transaction on Monday, August 10th. The shares were purchased at an average price of $16.00 per share, with a total value of $10,000,000.00. Following the completion of 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 position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Bihua Chen bought 312,500 shares of BlossomHill Therapeutics stock in a transaction on Monday, August 10th. The shares were acquired at an average cost of $16.00 per share, for a total transaction of $5,000,000.00. Following the completion of the acquisition, the director directly owned 3,614,034 shares in the company, valued at approximately $57,824,544. The trade was a 9.47% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 1,573,900 shares of company stock worth $25,181,900 in the last quarter.

BlossomHill Therapeutics Trading Down 3.5%

NASDAQ BLSM opened at $19.75 on Friday. BlossomHill Therapeutics has a 1 year low of $15.25 and a 1 year high of $27.99.

BlossomHill Therapeutics (NASDAQ:BLSM - Get Free Report) last announced its quarterly earnings data on Friday, September 18th. The company reported ($8.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($7.91). Equities analysts anticipate that BlossomHill Therapeutics will post -3.86 earnings per share for the current fiscal year.

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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