BlossomHill Therapeutics (NASDAQ:BLSM) Announces Earnings Results, Misses Estimates By $7.91 EPS

Key Points

• BlossomHill Therapeutics reported a quarterly loss of $8.75 per share, falling short of the $0.84-per-share consensus estimate by $7.91.
• The stock opened at $26.82 and rose 2.2%; it has traded between $15.25 and $27.80 over the past year.
• Insiders purchased 1.57 million shares worth approximately $25.2 million over the last 90 days. Analysts remain broadly positive, with a “Moderate Buy” consensus rating and an average price target of $32.20.

BlossomHill Therapeutics (NASDAQ:BLSM - Get Free Report) posted its quarterly earnings data on Friday. The company reported ($8.75) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($7.91), Zacks reports.

BlossomHill Therapeutics Stock Up 2.2%

BlossomHill Therapeutics stock opened at $26.82 on Friday. BlossomHill Therapeutics has a one year low of $15.25 and a one year high of $27.80.

Insider Transactions at BlossomHill Therapeutics

In other news, Director John P. Schmid acquired 6,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the director directly owned 6,000 shares in the company, valued at $96,000. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Orbimed Advisors Llc bought 625,000 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was purchased at an average price 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 $43,428,464. This trade represents a 29.91% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have acquired 1,573,900 shares of company stock worth $25,181,900.

Wall Street Analyst Weigh In

BLSM has been the subject of several research analyst reports. Leerink Partners assumed coverage on shares of BlossomHill Therapeutics in a research report on Tuesday, September 1st. They set an "outperform" rating and a $36.00 price objective for the company. Lifesci Capital initiated coverage on shares of BlossomHill Therapeutics in a research note on Tuesday, September 1st. They issued an "outperform" rating and a $32.00 price target on the stock. Guggenheim initiated coverage on shares of BlossomHill Therapeutics in a research note on Tuesday, September 1st. They issued a "buy" rating and a $30.00 price objective for the company. Wall Street Zen upgraded BlossomHill Therapeutics to a "hold" rating in a research report on Saturday, August 15th. Finally, Zacks Research raised BlossomHill Therapeutics to a "hold" rating in a research note on Wednesday, September 2nd. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.20.

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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