Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts give Black Diamond Therapeutics a “Moderate Buy” consensus: Eight of 11 analysts rate the stock a buy, while two recommend holding and one recommends selling. The average 12-month price target is $9.80.
• Institutional ownership is high at 95.47%. Several investment firms initiated positions during the second quarter, including Connor Clark & Lunn and AWM Investment Company.
• The stock opened at $2.02, well below its 52-week high of $4.94. Black Diamond reported a quarterly loss of $0.17 per share, beating the consensus estimate of a $0.20 loss.

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Get Free Report) have received a consensus rating of "Moderate Buy" from the eleven research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $9.80.

A number of equities analysts have commented on the stock. Raymond James Financial restated an "outperform" rating on shares of Black Diamond Therapeutics in a research report on Thursday, August 6th. HC Wainwright reaffirmed a "buy" rating on shares of Black Diamond Therapeutics in a report on Friday, May 22nd. Weiss Ratings cut shares of Black Diamond Therapeutics from a "sell (d)" rating to a "sell (d-)" rating in a research note on Monday, July 13th. BTIG Research boosted their target price on Black Diamond Therapeutics from $10.00 to $11.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Finally, Wall Street Zen lowered Black Diamond Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th.

Institutional Trading of Black Diamond Therapeutics

Several large investors have recently made changes to their positions in the business. AWM Investment Company Inc. acquired a new stake in shares of Black Diamond Therapeutics in the second quarter valued at $1,850,000. Hsbc Holdings PLC acquired a new position in Black Diamond Therapeutics during the 2nd quarter worth about $46,000. EFG International AG bought a new stake in Black Diamond Therapeutics during the 2nd quarter worth about $50,000. Canada Pension Plan Investment Board bought a new stake in Black Diamond Therapeutics during the 2nd quarter worth about $192,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Black Diamond Therapeutics during the 2nd quarter worth about $2,022,000. Institutional investors own 95.47% of the company's stock.

Black Diamond Therapeutics Price Performance

Black Diamond Therapeutics stock opened at $2.02 on Friday. The firm has a market capitalization of $116.05 million, a P/E ratio of -2.69 and a beta of 3.28. The stock has a fifty day moving average price of $1.83 and a two-hundred day moving average price of $2.25. Black Diamond Therapeutics has a 52-week low of $1.60 and a 52-week high of $4.94.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.03. On average, equities research analysts predict that Black Diamond Therapeutics will post -0.61 EPS for the current fiscal year.

Black Diamond Therapeutics Company Profile

Black Diamond Therapeutics, Inc is a precision oncology company focused on the discovery and development of small-molecule therapies that selectively target oncogenic proteins bearing tumor-driving mutations. Leveraging its proprietary Genetic Defined Allosteric (GDA) therapeutic platform, the company aims to identify unique allosteric binding sites in mutant proteins and engineer highly selective inhibitors. Headquartered in Cambridge, Massachusetts, Black Diamond applies structure-based drug design and molecular modeling to advance personalized cancer treatments.

The company's development pipeline includes lead candidate BDTX-189, an allosteric inhibitor of mutant HER2, as well as programs directed at clinically relevant EGFR and KRAS mutations.

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