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

Key Points

• Black Diamond Therapeutics has received a consensus recommendation of "Moderate Buy" from analysts, with one sell rating, one hold rating, and five buy ratings.
• The average 12-month price target for the stock is $9.60, with notable target prices set at $11.00 by Raymond James and $10.00 by HC Wainwright.
• Black Diamond Therapeutics, focused on oncology medicine, has a lead product candidate in phase 2 trials for non-small cell lung cancer and reported an earnings per share of ($0.19) for the last quarter, exceeding expectations.

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the seven brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $9.60.

A number of brokerages have commented on BDTX. Raymond James Financial upgraded shares of Black Diamond Therapeutics to an "outperform" rating and set a $11.00 target price on the stock in a research note on Tuesday, July 1st. Stifel Nicolaus initiated coverage on shares of Black Diamond Therapeutics in a research report on Wednesday. They set a "buy" rating and a $8.00 target price for the company. HC Wainwright decreased their price target on shares of Black Diamond Therapeutics from $12.00 to $10.00 and set a "buy" rating for the company in a report on Monday, August 11th. Zacks Research cut shares of Black Diamond Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Friday, October 10th. Finally, Guggenheim assumed coverage on shares of Black Diamond Therapeutics in a report on Wednesday, September 3rd. They issued a "buy" rating and a $8.00 price target for the company.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Marshall Wace LLP purchased a new position in shares of Black Diamond Therapeutics during the second quarter worth $1,830,000. AWM Investment Company Inc. purchased a new position in shares of Black Diamond Therapeutics during the first quarter worth $775,000. Jane Street Group LLC purchased a new position in shares of Black Diamond Therapeutics during the second quarter worth $517,000. XTX Topco Ltd raised its holdings in shares of Black Diamond Therapeutics by 324.7% during the second quarter. XTX Topco Ltd now owns 179,234 shares of the company's stock worth $444,000 after purchasing an additional 137,036 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Black Diamond Therapeutics during the second quarter worth $343,000. Hedge funds and other institutional investors own 95.47% of the company's stock.

Black Diamond Therapeutics Price Performance

NASDAQ:BDTX opened at $4.01 on Friday. The firm has a market capitalization of $228.33 million, a price-to-earnings ratio of 17.44 and a beta of 3.07. Black Diamond Therapeutics has a 1 year low of $1.20 and a 1 year high of $4.45. The business has a 50 day simple moving average of $3.26 and a 200-day simple moving average of $2.56.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.06. As a group, analysts expect that Black Diamond Therapeutics will post -1.3 earnings per share for the current fiscal 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.

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