BlossomHill Therapeutics (NASDAQ:BLSM) Shares Up 8.1% - Should You Buy?

Key Points

• BlossomHill Therapeutics shares rose 8.1% to $15.81 in mid-day trading, although volume was 69% below the stock’s average. The company has a market capitalization of about $519 million and trades below its 50-day moving average of $19.16.
• Analyst sentiment is broadly positive: five analysts rate the stock a Buy and one rates it a Hold, producing a consensus “Moderate Buy” rating and an average price target of $35.00.
• Significant risks remain: BlossomHill reported a quarterly loss of $8.75 per share versus the expected $0.84 loss, and analysts forecast a full-year loss of $5.54 per share. Meanwhile, insiders have purchased approximately $25.2 million of shares over the past 90 days.

BlossomHill Therapeutics, Inc. (NASDAQ:BLSM - Get Free Report) shares rose 8.1% during mid-day trading on Monday. The stock traded as high as $15.97 and last traded at $15.81. Approximately 63,808 shares traded hands during trading, a decline of 69% from the average daily volume of 205,333 shares. The stock had previously closed at $14.63.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BLSM. Zacks Research raised BlossomHill Therapeutics to a "hold" rating in a research report on Wednesday, September 2nd. Guggenheim lifted their target price on BlossomHill Therapeutics from $30.00 to $40.00 and gave the company a "buy" rating in a report on Monday, September 21st. Wall Street Zen raised BlossomHill Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday. Leerink Partners lifted their price objective on BlossomHill Therapeutics from $36.00 to $40.00 and gave the company an "outperform" rating in a research note on Monday, September 21st. Finally, HC Wainwright reiterated a "buy" rating on shares of BlossomHill Therapeutics in a research note on Wednesday, September 30th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $35.00.

BlossomHill Therapeutics Stock Performance

The company has a fifty day moving average price of $19.16. The stock has a market capitalization of $518.97 million and a P/E ratio of -1.87.

BlossomHill Therapeutics (NASDAQ:BLSM - Get Free Report) last posted its earnings results on Friday, September 18th. The company reported ($8.75) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($7.91). As a group, sell-side analysts forecast that BlossomHill Therapeutics, Inc. will post -5.54 earnings per share for the current year.

Insider Activity at BlossomHill Therapeutics

In other news, Director Orbimed Advisors Llc purchased 625,000 shares of the business's stock in a transaction on Monday, August 10th. The shares were bought at an average price of $16.00 per share, with a total value of $10,000,000.00. Following the completion of the transaction, the director directly owned 2,714,279 shares in the company, valued at approximately $43,428,464. This represents a 29.91% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John P. Schmid acquired 6,000 shares of BlossomHill Therapeutics stock in a transaction on Monday, August 10th. The stock was purchased at an average price of $16.00 per share, with a total value of $96,000.00. Following the purchase, the director owned 6,000 shares of the company's stock, valued at $96,000. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 1,573,900 shares of company stock valued at $25,181,900 over the last 90 days.

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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