BlossomHill Therapeutics (NASDAQ:BLSM) Shares Gap Up – Here’s Why

BlossomHill Therapeutics, Inc. (NASDAQ:BLSM) shares gapped up before the market opened on Tuesday. The stock had previously closed at $19.75, but opened at $21.17. BlossomHill Therapeutics shares last traded at $21.27, with a volume of 10,184 shares trading hands.

Analysts Set New Price Targets

Several research analysts have commented on BLSM shares. Guggenheim increased their price objective 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 raised BlossomHill Therapeutics to a “hold” rating in a research note on Wednesday, September 2nd. HC Wainwright began coverage on BlossomHill Therapeutics in a research note on Tuesday, September 1st. They issued a “buy” rating and a $35.00 price objective on the stock. Wall Street Zen raised BlossomHill Therapeutics to a “hold” rating in a report on Saturday, August 15th. Finally, Lifesci Capital began coverage on BlossomHill Therapeutics in a research report on Tuesday, September 1st. They set an “outperform” rating and a $32.00 target price for the company. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

BlossomHill Therapeutics Stock Performance

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

Insider Activity

In other news, General Counsel Vincent Liptak acquired 2,500 shares of the company’s stock in a transaction on Friday, August 7th. The stock was bought at an average cost of $15.80 per share, with a total value of $39,500.00. Following the completion of the purchase, the general counsel directly owned 109,212 shares of the company’s stock, valued at $1,725,549.60. This represents a 2.34% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carl L. Gordon 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, for a total transaction of $10,000,000.00. Following the transaction, the director directly 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 worth $25,181,900.

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.