HC Wainwright Reaffirms “Buy” Rating for Black Diamond Therapeutics (NASDAQ:BDTX)

Black Diamond Therapeutics (NASDAQ:BDTX)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They presently have a $11.00 price target on the stock. HC Wainwright’s target price indicates a potential upside of 245.91% from the company’s previous close.

Several other research firms have also recently commented on BDTX. Raymond James started coverage on shares of Black Diamond Therapeutics in a report on Wednesday, July 31st. They set an “outperform” rating and a $20.00 price target on the stock. Piper Sandler upped their target price on Black Diamond Therapeutics from $12.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Finally, Wedbush reaffirmed an “outperform” rating and set a $16.00 price target on shares of Black Diamond Therapeutics in a research note on Tuesday, October 8th.

Black Diamond Therapeutics Stock Down 3.3 %

Shares of Black Diamond Therapeutics stock opened at $3.18 on Wednesday. The stock has a market cap of $179.70 million, a PE ratio of -2.12 and a beta of 2.51. Black Diamond Therapeutics has a 12 month low of $1.62 and a 12 month high of $7.66. The business has a fifty day simple moving average of $4.15 and a 200-day simple moving average of $5.01.

Black Diamond Therapeutics (NASDAQ:BDTX) last released its earnings results on Tuesday, November 5th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.09. Analysts expect that Black Diamond Therapeutics will post -1.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Black Diamond Therapeutics

Several hedge funds have recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC bought a new stake in shares of Black Diamond Therapeutics during the 1st quarter worth about $82,000. Acadian Asset Management LLC lifted its holdings in Black Diamond Therapeutics by 13.8% in the 1st quarter. Acadian Asset Management LLC now owns 170,510 shares of the company’s stock worth $864,000 after purchasing an additional 20,616 shares during the last quarter. SG Americas Securities LLC bought a new stake in Black Diamond Therapeutics during the second quarter worth approximately $108,000. Bank of New York Mellon Corp bought a new position in shares of Black Diamond Therapeutics in the second quarter valued at approximately $508,000. Finally, Rhumbline Advisers lifted its stake in shares of Black Diamond Therapeutics by 10,334.3% in the second quarter. Rhumbline Advisers now owns 46,850 shares of the company’s stock worth $218,000 after buying an additional 46,401 shares during the last quarter. 95.47% of the stock is owned by institutional investors and hedge funds.

Black Diamond Therapeutics Company Profile

Black Diamond Therapeutics, Inc, a clinical-stage oncology medicine company, focuses on the discovery and development of MasterKey therapies for patients with genetically defined tumors. The company's lead product candidate is BDTX-1535, a brain-penetrant epidermal growth factor receptor MasterKey inhibitor, which is in phase 2 clinical trial for the treatment of epidermal growth factor receptor mutant non-small cell lung cancer, as well as phase 1 clinical trial to treat glioblastoma.