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

Key Points

• Black Diamond Therapeutics has received a consensus recommendation of "Buy" from six brokerages, with an average target price of $11.00.
• The company's lead product candidate, BDTX-1535, is currently in a phase 2 clinical trial for treating mutant non-small cell lung cancer.
• Black Diamond Therapeutics reported an earnings per share of (0.19), exceeding the consensus estimate of (0.25) for the last quarter.

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Get Free Report) has been given an average recommendation of "Buy" by the six brokerages that are currently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $11.00.

BDTX has been the subject of several recent research reports. Zacks Research raised shares of Black Diamond Therapeutics to a "strong-buy" rating in a research report on Monday, August 11th. Wall Street Zen cut shares of Black Diamond Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Guggenheim assumed coverage on shares of Black Diamond Therapeutics in a report on Wednesday, September 3rd. They set a "buy" rating and a $8.00 price target on the stock. Raymond James Financial upgraded shares of Black Diamond Therapeutics to an "outperform" rating and set a $11.00 price target on the stock in a report on Tuesday, July 1st. Finally, HC Wainwright cut their price target on shares of Black Diamond Therapeutics from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Monday, August 11th.

Black Diamond Therapeutics Price Performance

NASDAQ:BDTX opened at $3.17 on Wednesday. The firm has a 50-day moving average of $2.92 and a 200-day moving average of $2.29. The company has a market cap of $180.50 million, a PE ratio of 13.78 and a beta of 2.93. Black Diamond Therapeutics has a one year low of $1.20 and a one year high of $4.90.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.06. On average, equities research analysts expect that Black Diamond Therapeutics will post -1.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BDTX. R Squared Ltd purchased a new position in Black Diamond Therapeutics during the second quarter worth about $25,000. Cerity Partners LLC purchased a new position in Black Diamond Therapeutics during the second quarter worth about $26,000. Hudson Bay Capital Management LP purchased a new position in Black Diamond Therapeutics in the second quarter valued at about $26,000. Wealth Enhancement Advisory Services LLC purchased a new position in Black Diamond Therapeutics in the second quarter valued at about $28,000. Finally, American Century Companies Inc. purchased a new position in Black Diamond Therapeutics in the second quarter valued at about $30,000. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.