BlossomHill Therapeutics (NASDAQ:BLSM) Shares Climb 5.6% – Should You Buy?

BlossomHill Therapeutics, Inc. (NASDAQ:BLSM)’s share price shot up 5.6% on Monday. The stock traded as high as $21.08 and last traded at $20.85. Approximately 81,942 shares changed hands during trading, a decline of 64% from the average session volume of 225,367 shares. The stock had previously closed at $19.75.

Analyst Ratings Changes

BLSM has been the topic of several research analyst reports. Wall Street Zen raised BlossomHill Therapeutics to a “hold” rating in a research note on Saturday, August 15th. Lifesci Capital initiated 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. Zacks Research upgraded BlossomHill Therapeutics to a “hold” rating in a report on Wednesday, September 2nd. HC Wainwright began coverage on BlossomHill Therapeutics in a research report on Tuesday, September 1st. They set a “buy” rating and a $35.00 price target on the stock. Finally, Leerink Partners raised their price target on BlossomHill Therapeutics from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, September 21st. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

BlossomHill Therapeutics Stock Up 0.1%

BlossomHill Therapeutics (NASDAQ:BLSM) last released 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). On average, research analysts forecast that BlossomHill Therapeutics, Inc. will post -5.54 earnings per share for the current fiscal year.

Insider Buying and Selling at BlossomHill Therapeutics

In related news, Director John P. Schmid purchased 6,000 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were acquired at an average cost of $16.00 per share, for a total transaction of $96,000.00. Following the acquisition, the director owned 6,000 shares of the company’s stock, valued at $96,000. The trade was a ? increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock was bought at an average price of $16.00 per share, for a total transaction of $10,000,000.00. Following the completion of the acquisition, the director directly owned 2,714,279 shares in the company, valued at approximately $43,428,464. This trade represents a 29.91% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, 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.