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

BlossomHill Therapeutics (NASDAQ:BLSM) issued its earnings results on Friday. The company reported ($8.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($7.91), Zacks reports.

BlossomHill Therapeutics Stock Up 2.2%

NASDAQ:BLSM opened at $26.82 on Friday. BlossomHill Therapeutics has a 1 year low of $15.25 and a 1 year high of $27.80.

Insiders Place Their Bets

In other BlossomHill Therapeutics news, Director Bihua Chen purchased 312,500 shares of the stock in a transaction dated Monday, August 10th. The shares were bought at an average price of $16.00 per share, with a total value of $5,000,000.00. Following the completion of the transaction, the director directly owned 3,614,034 shares in the company, valued at approximately $57,824,544. This trade 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, General Counsel Vincent Liptak acquired 2,200 shares of BlossomHill Therapeutics stock in a transaction that occurred on Monday, August 10th. The stock was acquired at an average price of $16.00 per share, with a total value of $35,200.00. Following the completion of the purchase, the general counsel directly owned 111,412 shares in the company, valued at $1,782,592. This represents a 2.01% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 1,573,900 shares of company stock worth $25,181,900 in the last ninety days.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BLSM. Guggenheim began 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 on the stock. Wall Street Zen raised BlossomHill Therapeutics to a “hold” rating in a research report on Saturday, August 15th. HC Wainwright began coverage on shares of BlossomHill Therapeutics in a report on Tuesday, September 1st. They set a “buy” rating and a $35.00 price target on the stock. Zacks Research raised shares of BlossomHill Therapeutics to a “hold” rating in a research report on Wednesday, September 2nd. Finally, Lifesci Capital assumed coverage on BlossomHill Therapeutics in a research report on Tuesday, September 1st. They set an “outperform” rating and a $32.00 price target for the company. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company 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.