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

Key Points

• Analysts assign Black Diamond Therapeutics a “Moderate Buy” consensus: Eight of 11 analysts recommend buying the stock, while two rate it a hold and one a sell. The average 12-month price target is $10.25.
• Institutional investors and hedge funds own approximately 95.47% of BDTX shares, with several firms recently initiating small positions.
• BDTX opened at $2.10, with a market capitalization of about $120.7 million; its latest quarterly loss of $0.17 per share was better than the expected $0.20 loss, though analysts forecast a full-year loss of $0.57 per share.

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Get Free Report) have been given an average recommendation of "Moderate Buy" by the eleven brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $10.25.

Several equities analysts recently commented on BDTX shares. Jefferies Financial Group reissued a "buy" rating on shares of Black Diamond Therapeutics in a report on Thursday, August 6th. Weiss Ratings downgraded Black Diamond Therapeutics from a "sell (d)" rating to a "sell (d-)" rating in a report on Monday, July 13th. HC Wainwright reaffirmed a "buy" rating on shares of Black Diamond Therapeutics in a research report on Friday, May 22nd. TD Cowen reiterated a "buy" rating on shares of Black Diamond Therapeutics in a report on Thursday, August 6th. Finally, Raymond James Financial reissued an "outperform" rating on shares of Black Diamond Therapeutics in a research report on Thursday, August 6th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Cerity Partners LLC purchased a new position in shares of Black Diamond Therapeutics during the second quarter worth about $26,000. Hudson Bay Capital Management LP acquired a new position in Black Diamond Therapeutics during the second quarter worth approximately $26,000. nVerses Capital LLC purchased a new stake in Black Diamond Therapeutics in the fourth quarter valued at approximately $26,000. Stokes Family Office LLC purchased a new position in shares of Black Diamond Therapeutics during the fourth quarter worth approximately $27,000. Finally, Spark Investment Management LLC acquired a new position in shares of Black Diamond Therapeutics in the 2nd quarter valued at $29,000. Institutional investors and hedge funds own 95.47% of the company's stock.

Black Diamond Therapeutics Stock Performance

Shares of BDTX opened at $2.10 on Wednesday. The stock has a 50-day simple moving average of $1.97 and a 200-day simple moving average of $2.23. The stock has a market capitalization of $120.65 million, a PE ratio of -2.80 and a beta of 3.31. Black Diamond Therapeutics has a 1 year low of $1.60 and a 1 year high of $4.94.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.17) earnings per share for the quarter, topping analysts' consensus estimates of ($0.20) by $0.03. Analysts predict that Black Diamond Therapeutics will post -0.57 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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