Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Receives Consensus Recommendation of "Buy" from Brokerages

Key Points

• Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) has received an average rating of "Buy" from five brokerage firms, indicating positive analyst sentiment towards the stock.
• The average one-year price target for BDTX is $12.80, suggesting significant upside potential from its current trading price of approximately $2.83.
• Institutional investors hold 95.47% of Black Diamond Therapeutics' stock, indicating strong interest and investment from major financial institutions.

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Get Free Report) have received a consensus rating of "Buy" from the five ratings firms that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $12.80.

A number of research analysts have recently commented on BDTX shares. Raymond James Financial raised shares of Black Diamond Therapeutics to an "outperform" rating and set a $11.00 price objective for the company in a research report on Tuesday, July 1st. Wall Street Zen upgraded shares of Black Diamond Therapeutics from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th.

Hedge Funds Weigh In On Black Diamond Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. R Squared Ltd bought a new position in Black Diamond Therapeutics in the 2nd quarter worth about $25,000. Wealth Enhancement Advisory Services LLC purchased a new position in Black Diamond Therapeutics in the 2nd quarter worth $28,000. CWM LLC grew its position in Black Diamond Therapeutics by 212.2% during the 2nd quarter. CWM LLC now owns 14,338 shares of the company's stock worth $36,000 after acquiring an additional 9,746 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Black Diamond Therapeutics in the second quarter valued at approximately $36,000. Finally, D. E. Shaw & Co. Inc. bought a new stake in Black Diamond Therapeutics during the 4th quarter valued at $37,000. Institutional investors own 95.47% of the company's stock.

Black Diamond Therapeutics Stock Performance

Shares of NASDAQ BDTX traded up $0.07 during midday trading on Tuesday, reaching $2.35. 448,242 shares of the company traded hands, compared to its average volume of 2,029,266. The firm has a market cap of $133.34 million, a PE ratio of 39.08 and a beta of 2.87. Black Diamond Therapeutics has a 12 month low of $1.20 and a 12 month high of $6.75. The stock's 50-day simple moving average is $2.64 and its 200-day simple moving average is $2.15.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.19) EPS for the quarter, beating analysts' consensus estimates of ($0.25) by $0.06. On average, equities research analysts expect that Black Diamond Therapeutics will post -1.3 EPS for the current year.

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.