Brokerages Set Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) PT at $10.00

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) has received an average rating of “Moderate Buy” from the eleven research firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $10.00.

A number of equities research analysts recently weighed in on the company. HC Wainwright restated a “buy” rating on shares of Black Diamond Therapeutics in a research report on Friday, May 22nd. BTIG Research boosted their price objective on Black Diamond Therapeutics from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Raymond James Financial restated an “outperform” rating on shares of Black Diamond Therapeutics in a research report on Friday, May 22nd. Zacks Research lowered Black Diamond Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. Finally, Wedbush boosted their price objective on Black Diamond Therapeutics from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 17th.

Institutional Investors Weigh In On Black Diamond Therapeutics

Institutional investors have recently made changes to their positions in the stock. Cerity Partners LLC bought a new stake in shares of Black Diamond Therapeutics in the 2nd quarter valued at about $26,000. Virtu Financial LLC bought a new stake in shares of Black Diamond Therapeutics in the 3rd quarter valued at about $39,000. Hudson Bay Capital Management LP bought a new stake in shares of Black Diamond Therapeutics in the 2nd quarter valued at about $26,000. nVerses Capital LLC bought a new stake in shares of Black Diamond Therapeutics in the 4th quarter valued at about $26,000. Finally, Stokes Family Office LLC bought a new stake in shares of Black Diamond Therapeutics in the 4th quarter valued at about $27,000. Institutional investors own 95.47% of the company’s stock.

Black Diamond Therapeutics Stock Performance

Shares of BDTX opened at $1.97 on Monday. Black Diamond Therapeutics has a 52-week low of $1.93 and a 52-week high of $4.94. The business’s fifty day moving average is $2.63 and its 200-day moving average is $2.63. The firm has a market cap of $112.88 million, a price-to-earnings ratio of -2.56 and a beta of 3.22.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.02. As a group, research analysts forecast that Black Diamond Therapeutics will post -0.6 EPS for the current fiscal 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.