Black Diamond Therapeutics (NASDAQ:BDTX) Rating Reiterated by HC Wainwright

HC Wainwright restated their buy rating on shares of Black Diamond Therapeutics (NASDAQ:BDTX) in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has a $11.00 target price on the stock. HC Wainwright also issued estimates for Black Diamond Therapeutics’ Q3 2024 earnings at ($0.37) EPS, Q4 2024 earnings at ($0.37) EPS, FY2024 earnings at ($1.46) EPS, Q1 2025 earnings at ($0.38) EPS, Q2 2025 earnings at ($0.39) EPS, Q3 2025 earnings at ($0.39) EPS, Q4 2025 earnings at ($0.40) EPS and FY2025 earnings at ($1.55) EPS.

A number of other analysts also recently issued reports on BDTX. Wedbush reaffirmed an outperform rating and issued a $16.00 target price on shares of Black Diamond Therapeutics in a research report on Wednesday, August 7th. Raymond James started coverage on Black Diamond Therapeutics in a research report on Wednesday, July 31st. They set an outperform rating and a $20.00 price target on the stock. Finally, Piper Sandler reissued an overweight rating and issued a $12.00 price objective on shares of Black Diamond Therapeutics in a report on Wednesday, July 3rd.

Black Diamond Therapeutics Stock Performance

NASDAQ BDTX opened at $5.40 on Wednesday. Black Diamond Therapeutics has a 52 week low of $1.62 and a 52 week high of $7.66. The stock’s 50 day moving average price is $5.56 and its two-hundred day moving average price is $5.30. The stock has a market capitalization of $303.77 million, a price-to-earnings ratio of -3.25 and a beta of 2.49.

Black Diamond Therapeutics (NASDAQ:BDTX) last announced its earnings results on Tuesday, August 6th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.03. On average, equities research analysts forecast that Black Diamond Therapeutics will post -1.42 EPS for the current year.

Institutional Investors Weigh In On Black Diamond Therapeutics

Hedge funds have recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC bought a new stake in Black Diamond Therapeutics in the first quarter valued at approximately $82,000. SG Americas Securities LLC bought a new stake in Black Diamond Therapeutics in the 2nd quarter valued at $108,000. Jump Financial LLC lifted its holdings in Black Diamond Therapeutics by 245.0% during the 4th quarter. Jump Financial LLC now owns 38,888 shares of the company’s stock valued at $109,000 after purchasing an additional 27,616 shares during the last quarter. Algert Global LLC bought a new position in Black Diamond Therapeutics during the second quarter worth $133,000. Finally, Pale Fire Capital SE acquired a new position in shares of Black Diamond Therapeutics in the fourth quarter valued at $144,000. 95.47% of the stock is currently owned by institutional investors and hedge funds.

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.