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

Key Points

• Black Diamond Therapeutics has an average broker rating of "Moderate Buy" from 11 covering analysts, with an average 1-year target price of about $9.83.
• Recent analyst actions were mostly positive, including buy ratings or reiterated outperform views from HC Wainwright, BTIG Research, TD Cowen, and Raymond James, though Wall Street Zen downgraded the stock to sell.
• The company reported a smaller-than-expected loss for the latest quarter, posting EPS of ($0.16) versus estimates of ($0.18), while shares recently traded around $1.81.

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Get Free Report) have earned an average rating of "Moderate Buy" from the eleven brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $9.8333.

Several research firms have weighed in on BDTX. HC Wainwright reiterated a "buy" rating on shares of Black Diamond Therapeutics in a research note on Friday, May 22nd. BTIG Research raised their price objective on Black Diamond Therapeutics from $10.00 to $11.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. TD Cowen reaffirmed a "buy" rating on shares of Black Diamond Therapeutics in a report on Friday, May 22nd. Raymond James Financial reiterated an "outperform" rating on shares of Black Diamond Therapeutics in a research report on Friday, May 22nd. Finally, Wall Street Zen downgraded shares of Black Diamond Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, May 9th.

Institutional Trading of Black Diamond Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings in shares of Black Diamond Therapeutics by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 505,780 shares of the company's stock valued at $1,229,000 after purchasing an additional 5,257 shares in the last quarter. Engineers Gate Manager LP boosted its holdings in Black Diamond Therapeutics by 48.9% during the fourth quarter. Engineers Gate Manager LP now owns 19,701 shares of the company's stock worth $48,000 after buying an additional 6,469 shares in the last quarter. Kathmere Capital Management LLC boosted its holdings in Black Diamond Therapeutics by 31.0% during the fourth quarter. Kathmere Capital Management LLC now owns 31,822 shares of the company's stock worth $77,000 after buying an additional 7,539 shares in the last quarter. Bank of America Corp DE grew its position in Black Diamond Therapeutics by 22.5% during the third quarter. Bank of America Corp DE now owns 43,359 shares of the company's stock valued at $164,000 after buying an additional 7,972 shares during the period. Finally, Cerity Partners LLC acquired a new stake in Black Diamond Therapeutics during the second quarter valued at $26,000. Institutional investors and hedge funds own 95.47% of the company's stock.

Black Diamond Therapeutics Trading Up 1.1%

NASDAQ:BDTX opened at $1.81 on Tuesday. The company has a market capitalization of $103.71 million, a P/E ratio of -2.35 and a beta of 3.25. Black Diamond Therapeutics has a 12 month low of $1.60 and a 12 month high of $4.94. The firm has a fifty day simple moving average of $2.09 and a 200-day simple moving average of $2.35.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.02. Equities analysts forecast that Black Diamond Therapeutics will post -0.6 EPS for the current 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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