BlossomHill Therapeutics (NASDAQ:BLSM) Hits New 12-Month High - Should You Buy?

Key Points

• BlossomHill Therapeutics shares reached a new 52-week high, trading as high as $27.99 and closing near $27.50, up from the prior close of $25.74.
• Analyst sentiment is broadly positive: five analysts rate the stock Buy and one rates it Hold, resulting in a “Moderate Buy” consensus and an average price target of $34.20.
• The company reported a steep quarterly loss of $8.75 per share, far below the expected $0.84 loss, though insiders bought 1.57 million shares worth approximately $25.2 million over the past three months.

Shares of BlossomHill Therapeutics, Inc. (NASDAQ:BLSM - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $27.99 and last traded at $27.50, with a volume of 57914 shares trading hands. The stock had previously closed at $25.74.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Wall Street Zen raised shares of BlossomHill Therapeutics to a "hold" rating in a research note on Saturday, August 15th. Lifesci Capital initiated 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. Guggenheim increased their target price on BlossomHill Therapeutics from $30.00 to $40.00 and gave the company a "buy" rating in a report on Monday. Leerink Partners began coverage on BlossomHill Therapeutics in a report on Tuesday, September 1st. They issued an "outperform" rating and a $36.00 target price for the company. Finally, Zacks Research raised BlossomHill Therapeutics to a "hold" rating in a research report on Wednesday, September 2nd. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $34.20.

BlossomHill Therapeutics Stock Performance

BlossomHill Therapeutics (NASDAQ:BLSM - Get Free Report) last released its earnings results on Friday, September 18th. The company reported ($8.75) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.84) by ($7.91). Sell-side analysts forecast that BlossomHill Therapeutics, Inc. will post -3.86 EPS for the current fiscal year.

Insider Activity at BlossomHill Therapeutics

In other news, General Counsel Vincent Liptak acquired 2,200 shares of the company's stock in a transaction that occurred on Monday, August 10th. The shares were purchased at an average price of $16.00 per share, for a total transaction of $35,200.00. Following the completion of the acquisition, the general counsel owned 111,412 shares of the company's stock, valued at approximately $1,782,592. This represents a 2.01% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Carl L. Gordon acquired 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 directly owned 2,714,279 shares of the company's stock, valued at $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. Over the last three months, insiders bought 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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