BlossomHill Therapeutics (NASDAQ:BLSM) Reaches New 12-Month High – What’s Next?

BlossomHill Therapeutics, Inc. (NASDAQ:BLSM) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $23.38 and last traded at $22.40, with a volume of 13695 shares. The stock had previously closed at $21.74.

Analyst Upgrades and Downgrades

BLSM has been the topic of a number of analyst reports. Leerink Partners started coverage on BlossomHill Therapeutics in a report on Tuesday, September 1st. They issued an “outperform” rating and a $36.00 price objective on the stock. Wall Street Zen raised BlossomHill Therapeutics to a “hold” rating in a research note on Saturday, August 15th. Guggenheim started coverage on BlossomHill Therapeutics in a report on Tuesday, September 1st. They issued a “buy” rating and a $30.00 price target for the company. HC Wainwright initiated coverage on BlossomHill Therapeutics in a report on Tuesday, September 1st. They issued a “buy” rating and a $35.00 price target for the company. Finally, JPMorgan Chase & Co. assumed coverage on BlossomHill Therapeutics in a research note on Tuesday, September 1st. They issued an “overweight” rating and a $28.00 price target on the stock. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.20.

BlossomHill Therapeutics Trading Up 2.3%

Insider Activity

In other news, Director Bihua Chen acquired 312,500 shares of BlossomHill Therapeutics stock in a transaction that occurred on Monday, August 10th. The stock was purchased at an average cost of $16.00 per share, with a total value of $5,000,000.00. Following the completion of the acquisition, the director owned 3,614,034 shares in the company, valued at $57,824,544. This trade represents a 9.47% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Vincent Liptak bought 2,500 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were purchased at an average price of $15.80 per share, for a total transaction of $39,500.00. Following the completion of the transaction, the general counsel owned 109,212 shares of the company’s stock, valued at $1,725,549.60. This represents a 2.34% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 1,573,900 shares of company stock valued at $25,181,900 in the last 90 days.

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.