BlossomHill Therapeutics, Inc.’s (NASDAQ:BLSM) Quiet Period To End on September 16th

BlossomHill Therapeutics’ (NASDAQ:BLSM) quiet period is set to end on Wednesday, September 16th. BlossomHill Therapeutics had issued 9,375,000 shares in its public offering on August 7th. The total size of the offering was $150,000,000 based on an initial share price of $16.00. During BlossomHill Therapeutics’ quiet period, insiders and any underwriters that worked on the IPO are restricted from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BLSM. Wall Street Zen upgraded BlossomHill Therapeutics to a “hold” rating in a report on Saturday, August 15th. Leerink Partners initiated coverage on BlossomHill Therapeutics in a report on Tuesday, September 1st. They issued an “outperform” rating and a $36.00 price target for the company. Guggenheim initiated coverage on BlossomHill Therapeutics in a research report on Tuesday, September 1st. They set a “buy” rating and a $30.00 price objective on the stock. JPMorgan Chase & Co. started coverage on BlossomHill Therapeutics in a research note on Tuesday, September 1st. They set an “overweight” rating and a $28.00 price objective on the stock. Finally, Lifesci Capital assumed coverage on BlossomHill Therapeutics in a report on Tuesday, September 1st. They issued an “outperform” rating and a $32.00 target price for the company. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.20.

BlossomHill Therapeutics Price Performance

Shares of BLSM stock opened at $21.51 on Friday. BlossomHill Therapeutics has a 12 month low of $15.25 and a 12 month high of $23.37.

Insider Buying and Selling at BlossomHill Therapeutics

In other BlossomHill Therapeutics news, Director Orbimed Advisors Llc acquired 625,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were purchased at an average cost of $16.00 per share, for a total transaction of $10,000,000.00. Following the completion of 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 position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Vincent Liptak acquired 2,200 shares of the 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 transaction, the general counsel directly owned 111,412 shares of the company’s stock, valued at $1,782,592. This trade represents a 2.01% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have 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.