BlossomHill Therapeutics (NASDAQ:BLSM) Stock Price Up 8.1% – Should You Buy?

BlossomHill Therapeutics, Inc. (NASDAQ:BLSM)’s stock price was up 8.1% during trading on Monday. The company traded as high as $15.97 and last traded at $15.81. 63,808 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 205,333 shares. The stock had previously closed at $14.63.

Analyst Ratings Changes

BLSM has been the topic of a number of research reports. JPMorgan Chase & Co. assumed coverage on BlossomHill Therapeutics in a report on Tuesday, September 1st. They set an “overweight” rating and a $28.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating on shares of BlossomHill Therapeutics in a research note on Wednesday, September 30th. Guggenheim increased their price objective on BlossomHill Therapeutics from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, September 21st. Zacks Research upgraded BlossomHill Therapeutics to a “hold” rating in a research note on Wednesday, September 2nd. Finally, Leerink Partners boosted their target price on BlossomHill Therapeutics from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, September 21st. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

BlossomHill Therapeutics Stock Performance

The stock has a market cap of $518.97 million and a price-to-earnings ratio of -1.87. The company’s 50-day simple moving average is $19.16.

BlossomHill Therapeutics (NASDAQ:BLSM) last announced its quarterly earnings results on Friday, September 18th. The company reported ($8.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($7.91). On average, analysts predict that BlossomHill Therapeutics, Inc. will post -5.54 earnings per share for the current year.

Insider Activity

In related news, Director Carl Gordon bought 625,000 shares of BlossomHill Therapeutics stock in a transaction that occurred 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 purchase, the director owned 2,714,279 shares in the company, valued at $43,428,464. This represents a 29.91% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Orbimed Advisors Llc bought 625,000 shares of BlossomHill Therapeutics stock in a transaction that occurred on Monday, August 10th. The stock was bought at an average cost of $16.00 per share, for a total transaction of $10,000,000.00. Following the purchase, the director owned 2,714,279 shares in the company, valued at $43,428,464. This represents 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 acquired 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.