Piper Sandler Raises Black Diamond Therapeutics (NASDAQ:BDTX) Price Target to $15.00

Black Diamond Therapeutics (NASDAQ:BDTX) had its price objective boosted by Piper Sandler from $12.00 to $15.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an overweight rating on the stock.

BDTX has been the subject of a number of other research reports. HC Wainwright restated a buy rating and issued a $11.00 target price on shares of Black Diamond Therapeutics in a research note on Wednesday, September 18th. Raymond James assumed coverage on Black Diamond Therapeutics in a research report on Wednesday, July 31st. They set an outperform rating and a $20.00 price objective for the company. Finally, Wedbush reissued an outperform rating and issued a $16.00 target price on shares of Black Diamond Therapeutics in a report on Tuesday, September 10th.

Black Diamond Therapeutics Price Performance

Shares of BDTX opened at $4.20 on Monday. The firm’s 50 day simple moving average is $5.60 and its 200 day simple moving average is $5.36. Black Diamond Therapeutics has a 1-year low of $1.62 and a 1-year high of $7.66. The company has a market capitalization of $237.34 million, a P/E ratio of -2.53 and a beta of 2.49.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its earnings results on Tuesday, August 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.03. On average, equities analysts anticipate that Black Diamond Therapeutics will post -1.4 earnings per share for the current year.

Institutional Trading of Black Diamond Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Bellevue Group AG lifted its holdings in shares of Black Diamond Therapeutics by 4.9% during the fourth quarter. Bellevue Group AG now owns 8,535,839 shares of the company’s stock valued at $23,986,000 after purchasing an additional 400,000 shares in the last quarter. Ally Bridge Group NY LLC purchased a new position in Black Diamond Therapeutics in the 2nd quarter worth about $3,891,000. Affinity Asset Advisors LLC bought a new position in Black Diamond Therapeutics during the 2nd quarter valued at about $3,029,000. TD Asset Management Inc boosted its holdings in shares of Black Diamond Therapeutics by 275.9% during the 2nd quarter. TD Asset Management Inc now owns 266,312 shares of the company’s stock valued at $1,241,000 after acquiring an additional 195,464 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Black Diamond Therapeutics by 24.1% in the second quarter. Renaissance Technologies LLC now owns 263,900 shares of the company’s stock worth $1,230,000 after acquiring an additional 51,300 shares during the period. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

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.