BlossomHill Therapeutics (NASDAQ:BLSM) Stock Price Down 7% - What's Next?

Key Points

• BlossomHill Therapeutics shares fell 7% to $16.06 in Tuesday trading, with volume down 87% from the average session. The stock remains below its 50-day moving average of $19.59.
• Analyst sentiment is broadly positive, with five Buy ratings and one Hold rating producing a “Moderate Buy” consensus and an average price target of $35. However, Wall Street Zen recently downgraded the stock to Sell.
• The company reported a substantial quarterly EPS miss, losing $8.75 per share versus the consensus estimate of a $0.84 loss. Meanwhile, insiders purchased 1.57 million shares worth approximately $25.2 million during the last quarter.

BlossomHill Therapeutics, Inc. (NASDAQ:BLSM - Get Free Report) shares were down 7% on Tuesday. The company traded as low as $16.06 and last traded at $16.06. Approximately 27,886 shares were traded during mid-day trading, a decline of 87% from the average session volume of 216,997 shares. The stock had previously closed at $17.27.

Analyst Ratings Changes

Several research firms have recently issued reports on BLSM. Guggenheim lifted their target price on shares of BlossomHill Therapeutics from $30.00 to $40.00 and gave the company a "buy" rating in a report on Monday, September 21st. Zacks Research upgraded BlossomHill Therapeutics to a "hold" rating in a research note on Wednesday, September 2nd. Leerink Partners upped their price target on BlossomHill Therapeutics from $36.00 to $40.00 and gave the stock an "outperform" rating in a research note on Monday, September 21st. Lifesci Capital started coverage on BlossomHill Therapeutics in a research report on Tuesday, September 1st. They set an "outperform" rating and a $32.00 price objective for the company. Finally, Wall Street Zen cut BlossomHill Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, October 3rd. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $35.00.

BlossomHill Therapeutics Trading Down 6.2%

The stock has a market cap of $514.92 million and a P/E ratio of -1.85. The stock has a 50 day moving average price of $19.59.

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). As a group, equities analysts anticipate that BlossomHill Therapeutics, Inc. will post -5.54 earnings per share for the current fiscal year.

Insider Transactions at BlossomHill Therapeutics

In other news, Director Bihua Chen bought 312,500 shares of the company's stock in a transaction dated Monday, August 10th. The shares were purchased at an average price of $16.00 per share, for a total transaction of $5,000,000.00. Following the completion of the purchase, the director owned 3,614,034 shares in the company, valued at approximately $57,824,544. This represents a 9.47% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Orbimed Advisors Llc purchased 625,000 shares of the business's stock in a transaction dated Monday, August 10th. The shares were 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 approximately $43,428,464. The trade was a 29.91% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have purchased 1,573,900 shares of company stock valued at $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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