Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analyst consensus: Eight analysts give Black Diamond a consensus rating of "Moderate Buy" (5 buys, 2 holds, 1 sell) with an average 12‑month target of $9.83, though recent notes range from Piper Sandler's $8 to Wedbush's $14 and a Weiss Ratings "sell (d+)".
• Market and results: Shares trade around $2.56 with a $146.7M market cap (50‑day MA $2.29, 200‑day MA $2.95), the company reported Q1 EPS of −$0.14 (beating estimates) but analysts expect ~−$1.30 for the year, and institutions hold about 95.47% of the stock.

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Get Free Report) has received a consensus rating of "Moderate Buy" from the eight analysts that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $9.8333.

Several brokerages have recently weighed in on BDTX. Piper Sandler lowered their target price on Black Diamond Therapeutics from $9.00 to $8.00 and set an "overweight" rating on the stock in a report on Friday, January 16th. Zacks Research cut Black Diamond Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Friday, February 6th. Wedbush upped their price objective on Black Diamond Therapeutics from $13.00 to $14.00 and gave the company an "outperform" rating in a report on Tuesday, March 17th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Black Diamond Therapeutics in a report on Monday, December 29th.

Black Diamond Therapeutics Price Performance

Shares of NASDAQ:BDTX opened at $2.56 on Friday. The business's 50 day moving average price is $2.29 and its 200-day moving average price is $2.95. The firm has a market capitalization of $146.66 million, a PE ratio of 6.92 and a beta of 3.38. Black Diamond Therapeutics has a 1 year low of $1.31 and a 1 year high of $4.94.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last issued its earnings results on Monday, March 16th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.04. As a group, analysts expect that Black Diamond Therapeutics will post -1.3 earnings per share for the current year.

Institutional Trading of Black Diamond Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BDTX. Arrowstreet Capital Limited Partnership raised its position in Black Diamond Therapeutics by 549.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 896,853 shares of the company's stock valued at $3,399,000 after purchasing an additional 758,709 shares during the period. Marshall Wace LLP purchased a new stake in Black Diamond Therapeutics in the second quarter valued at approximately $1,830,000. WINTON GROUP Ltd purchased a new stake in Black Diamond Therapeutics in the fourth quarter valued at approximately $1,024,000. Dimensional Fund Advisors LP raised its position in Black Diamond Therapeutics by 88.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 857,015 shares of the company's stock valued at $2,083,000 after purchasing an additional 401,145 shares during the period. Finally, Mackenzie Financial Corp purchased a new stake in Black Diamond Therapeutics in the fourth quarter valued at approximately $876,000. Hedge funds and other institutional investors own 95.47% of the company's stock.

About Black Diamond Therapeutics

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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