Black Diamond Therapeutics’ (BDTX) “Buy” Rating Reiterated at HC Wainwright

Black Diamond Therapeutics (NASDAQ:BDTX)‘s stock had its “buy” rating reissued by HC Wainwright in a research report issued on Wednesday, Benzinga reports. They currently have a $11.00 price target on the stock. HC Wainwright’s price target points to a potential upside of 127.98% from the company’s previous close.

A number of other research firms also recently commented on BDTX. Piper Sandler reaffirmed an “overweight” rating and set a $12.00 price objective on shares of Black Diamond Therapeutics in a research note on Wednesday, July 3rd. Wedbush reiterated an “outperform” rating and issued a $16.00 price target on shares of Black Diamond Therapeutics in a report on Tuesday, September 10th. Finally, Raymond James began coverage on Black Diamond Therapeutics in a report on Wednesday, July 31st. They set an “outperform” rating and a $20.00 price objective for the company.

Black Diamond Therapeutics Stock Performance

BDTX stock opened at $4.83 on Wednesday. The company has a 50 day moving average price of $5.73 and a two-hundred day moving average price of $5.35. The stock has a market capitalization of $271.42 million, a P/E ratio of -2.91 and a beta of 2.49. Black Diamond Therapeutics has a one year low of $1.62 and a one year high of $7.66.

Black Diamond Therapeutics (NASDAQ:BDTX) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.03. Research analysts forecast that Black Diamond Therapeutics will post -1.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Black Diamond Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in BDTX. Bellevue Group AG raised its position in Black Diamond Therapeutics by 4.9% in 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 during the period. Ally Bridge Group NY LLC acquired a new stake in shares of Black Diamond Therapeutics in the second quarter valued at about $3,891,000. Affinity Asset Advisors LLC purchased a new stake in shares of Black Diamond Therapeutics during the 2nd quarter valued at about $3,029,000. TD Asset Management Inc lifted its position in Black Diamond Therapeutics by 275.9% during the 2nd quarter. TD Asset Management Inc now owns 266,312 shares of the company’s stock worth $1,241,000 after acquiring an additional 195,464 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Black Diamond Therapeutics by 24.1% in the 2nd 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. Institutional investors and hedge funds own 95.47% of the company’s stock.

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.