Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Stock Has Consensus Target Price of $10.25

Key Points

• Analyst sentiment is moderately bullish: Eleven brokerages give Black Diamond Therapeutics a consensus “Moderate Buy” rating, with eight buys, two holds and one sell. The average 12-month price target is $10.25.
• The stock remains under pressure: BDTX opened at $1.89, versus a 52-week range of $1.60 to $4.94, with a market capitalization of approximately $108.6 million.
• Quarterly results beat expectations: The company reported a quarterly loss of $0.17 per share, better than the consensus estimate of a $0.20 loss. Institutional investors and hedge funds own 95.47% of the shares.

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the eleven brokerages that are covering the company, MarketBeat Ratings reports. One investment 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 twelve-month price target among analysts that have issued a report on the stock in the last year is $10.25.

A number of equities research analysts have recently issued reports on BDTX shares. Weiss Ratings downgraded shares of Black Diamond Therapeutics from a "sell (d)" rating to a "sell (d-)" rating in a research report on Monday, July 13th. Jefferies Financial Group reiterated a "buy" rating on shares of Black Diamond Therapeutics in a report on Thursday, August 6th. Raymond James Financial reissued an "outperform" rating on shares of Black Diamond Therapeutics in a research report on Thursday, August 6th. Finally, TD Cowen reissued a "buy" rating on shares of Black Diamond Therapeutics in a report on Thursday, August 6th.

Black Diamond Therapeutics Stock Performance

NASDAQ:BDTX opened at $1.89 on Friday. The stock has a fifty day moving average price of $1.99 and a two-hundred day moving average price of $2.18. The stock has a market capitalization of $108.58 million, a price-to-earnings ratio of -2.52 and a beta of 3.32. 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 posted its quarterly 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. On average, analysts predict that Black Diamond Therapeutics will post -0.57 EPS for the current year.

Hedge Funds Weigh In On Black Diamond Therapeutics

Institutional investors have recently modified their holdings of the company. Brookstone Capital Management acquired a new stake in Black Diamond Therapeutics during the first quarter worth approximately $30,000. Spark Investment Management LLC purchased a new position in shares of Black Diamond Therapeutics during the 2nd quarter worth $29,000. Hsbc Holdings PLC purchased a new position in shares of Black Diamond Therapeutics during the 2nd quarter worth $46,000. EFG International AG acquired a new stake in shares of Black Diamond Therapeutics during the second quarter worth $50,000. Finally, Sei Investments Co. purchased a new stake in shares of Black Diamond Therapeutics in the first quarter valued at $85,000. Institutional investors and hedge funds own 95.47% of the company's stock.

Black Diamond Therapeutics Company Profile

Black Diamond Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for genetically defined cancers. The company uses its Mutation-Allostery-Pharmacology (MAP) platform to identify and develop “MasterKey” medicines designed to target families of oncogenic mutations, including alterations that may be difficult to address with conventional therapies.

Its research and development programs have included investigational small-molecule therapies directed at cancer-driving pathways such as EGFR and RAF.

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