BlossomHill Therapeutics (NASDAQ:BLSM) Reaches New 12-Month High - What's Next?

Key Points

• BlossomHill Therapeutics reached a new 52-week high, trading as high as $23.38 before last changing hands at $22.40 on volume of 13,695 shares.
• Analyst sentiment is broadly positive: five analysts rate the stock a Buy and one a Hold, producing a “Moderate Buy” consensus and an average price target of $32.20.
• Insiders purchased 1,573,900 shares worth approximately $25.2 million in the past quarter, including major purchases by directors Bihua Chen and Orbimed Advisors.

BlossomHill Therapeutics, Inc. (NASDAQ:BLSM - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $23.38 and last traded at $22.40, with a volume of 13695 shares trading hands. The stock had previously closed at $21.74.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Zacks Research raised BlossomHill Therapeutics to a "hold" rating in a report on Wednesday, September 2nd. HC Wainwright began coverage on shares of BlossomHill Therapeutics in a report on Tuesday, September 1st. They issued a "buy" rating and a $35.00 target price on the stock. Lifesci Capital started coverage on shares of BlossomHill Therapeutics in a research report on Tuesday, September 1st. They issued an "outperform" rating and a $32.00 price target for the company. Guggenheim started coverage on shares of BlossomHill Therapeutics in a research note on Tuesday, September 1st. They set a "buy" rating and a $30.00 price target for the company. Finally, JPMorgan Chase & Co. began coverage on shares of BlossomHill Therapeutics in a research report on Tuesday, September 1st. They set an "overweight" rating and a $28.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $32.20.

BlossomHill Therapeutics Price Performance

Insider Transactions at BlossomHill Therapeutics

In other news, Director Bihua Chen acquired 312,500 shares of the company's stock in a transaction on Monday, August 10th. The shares were bought at an average cost of $16.00 per share, with a total value of $5,000,000.00. Following the purchase, the director owned 3,614,034 shares of the company's stock, valued at $57,824,544. This represents a 9.47% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Orbimed Advisors Llc acquired 625,000 shares of the business'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 transaction, the director owned 2,714,279 shares in the company, 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. Insiders bought a total of 1,573,900 shares of company stock worth $25,181,900 over the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.