Wedbush Issues Pessimistic Estimate for BDTX Earnings

Key Points

• Wedbush has lowered its earnings per share estimate for Black Diamond Therapeutics for FY2029 to $0.37, from a previous forecast of $0.39, while the consensus is currently at ($1.30) per share.
• The company's stock performance shows significant volatility, with a one-year low of $1.20 and a high of $6.75, and it currently trades around $2.40.
• Recent analyst ratings have been mixed, with Raymond James upgrading the stock to "outperform" with a price target of $11.00, while Wall Street Zen downgraded it from "buy" to "hold".

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Free Report) - Analysts at Wedbush decreased their FY2029 earnings estimates for shares of Black Diamond Therapeutics in a research note issued to investors on Thursday, August 7th. Wedbush analyst R. Driscoll now forecasts that the company will post earnings of $0.37 per share for the year, down from their prior estimate of $0.39. The consensus estimate for Black Diamond Therapeutics' current full-year earnings is ($1.30) per share.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.19) EPS for the quarter, topping analysts' consensus estimates of ($0.25) by $0.06.

A number of other equities analysts have also recently commented on BDTX. Wall Street Zen cut shares of Black Diamond Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Zacks Research raised shares of Black Diamond Therapeutics to a "strong-buy" rating in a research note on Monday. Raymond James Financial raised shares of Black Diamond Therapeutics to an "outperform" rating and set a $11.00 price target for the company in a research note on Tuesday, July 1st. Finally, HC Wainwright dropped 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 research note on Monday. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $12.40.

Black Diamond Therapeutics Trading Down 2.4%

Shares of BDTX stock traded down $0.07 during trading hours on Monday, reaching $2.72. 353,259 shares of the stock were exchanged, compared to its average volume of 2,001,297. Black Diamond Therapeutics has a 12-month low of $1.20 and a 12-month high of $6.75. The company's 50-day moving average price is $2.65 and its 200-day moving average price is $2.15. The firm has a market capitalization of $155.05 million, a price-to-earnings ratio of 11.81 and a beta of 2.87.

Institutional Investors Weigh In On Black Diamond Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BDTX. Raymond James Financial Inc. bought a new stake in Black Diamond Therapeutics during the 4th quarter valued at about $53,000. Sei Investments Co. bought a new stake in Black Diamond Therapeutics during the 4th quarter valued at about $49,000. JPMorgan Chase & Co. lifted its holdings in Black Diamond Therapeutics by 429.6% during the 4th quarter. JPMorgan Chase & Co. now owns 18,929 shares of the company's stock valued at $41,000 after buying an additional 15,355 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Black Diamond Therapeutics by 7.9% during the 4th quarter. Wellington Management Group LLP now owns 221,236 shares of the company's stock valued at $473,000 after buying an additional 16,279 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Black Diamond Therapeutics by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 959,316 shares of the company's stock valued at $2,053,000 after buying an additional 14,439 shares in the last quarter. Institutional investors own 95.47% of the company's stock.

About Black Diamond Therapeutics

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.