BlossomHill Therapeutics, Inc. (NASDAQ:BLSM) Stock Has Average Target Price of $35.00

Key Points

• Analyst sentiment is moderately positive: six analysts collectively rate BlossomHill Therapeutics “Moderate Buy,” with five buys and one hold. The average 12-month price target is $35, well above the stock’s $14.40 opening price.
• Insiders have been buying shares: insiders purchased 1.57 million shares worth approximately $25.2 million over the past 90 days, including a $10 million purchase by Orbimed Advisors.
• Financial performance remains weak: the company reported a quarterly loss of $8.75 per share, missing the $0.84 consensus loss estimate by $7.91, and analysts expect a full-year loss of $5.54 per share.

BlossomHill Therapeutics, Inc. (NASDAQ:BLSM - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the six research firms that are currently covering the company, Marketbeat reports. One research 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 covered the stock in the last year is $35.00.

Several brokerages recently issued reports on BLSM. Lifesci Capital began coverage on shares of BlossomHill Therapeutics in a research note on Tuesday, September 1st. They set an "outperform" rating and a $32.00 target price on the stock. HC Wainwright restated a "buy" rating on shares of BlossomHill Therapeutics in a report on Wednesday, September 30th. Guggenheim lifted their price target on shares of BlossomHill Therapeutics from $30.00 to $40.00 and gave the company a "buy" rating in a research note on Monday, September 21st. Wall Street Zen downgraded shares of BlossomHill Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, October 3rd. Finally, 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 objective on the stock.

Insider Buying and Selling

In other news, Director Orbimed Advisors Llc purchased 625,000 shares of the company's stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average cost of $16.00 per share, with a total value 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. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John P. Schmid purchased 6,000 shares of the business's stock in a transaction on Monday, August 10th. The stock was purchased at an average price of $16.00 per share, for a total transaction of $96,000.00. Following the acquisition, 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. Insiders acquired a total of 1,573,900 shares of company stock worth $25,181,900 over the last 90 days.

BlossomHill Therapeutics Price Performance

BlossomHill Therapeutics stock opened at $14.40 on Wednesday. The company has a market cap of $457.63 million and a PE ratio of -1.65. BlossomHill Therapeutics has a 52-week low of $12.93 and a 52-week high of $27.99. The stock's 50 day simple moving average is $19.21.

BlossomHill Therapeutics (NASDAQ:BLSM - Get Free Report) last announced its quarterly earnings data on Friday, September 18th. The company reported ($8.75) EPS for the quarter, missing the consensus estimate of ($0.84) by ($7.91). Sell-side analysts expect that BlossomHill Therapeutics will post -5.54 earnings per share for the current fiscal year.

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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