HC Wainwright Reiterates “Buy” Rating for Black Diamond Therapeutics (NASDAQ:BDTX)

Black Diamond Therapeutics (NASDAQ:BDTX)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $11.00 target price on the stock. HC Wainwright’s target price points to a potential upside of 161.90% from the company’s current price.

Other analysts have also issued research reports about the company. Piper Sandler boosted their target price on Black Diamond Therapeutics from $12.00 to $15.00 and gave the company an “overweight” rating in a research report on Monday. Raymond James began coverage on Black Diamond Therapeutics in a research note on Wednesday, July 31st. They issued an “outperform” rating and a $20.00 price objective for the company. Finally, Wedbush reissued an “outperform” rating and set a $16.00 target price on shares of Black Diamond Therapeutics in a research note on Tuesday, September 10th.

Black Diamond Therapeutics Price Performance

NASDAQ:BDTX opened at $4.20 on Tuesday. Black Diamond Therapeutics has a 1-year low of $1.62 and a 1-year high of $7.66. The firm has a market capitalization of $237.34 million, a price-to-earnings ratio of -2.53 and a beta of 2.49. The company’s 50-day moving average is $5.60 and its two-hundred day moving average is $5.36.

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

Institutional Investors Weigh In On Black Diamond Therapeutics

Several institutional investors have recently modified their holdings of the company. Susquehanna Fundamental Investments LLC purchased a new position in Black Diamond Therapeutics in the first quarter valued at $82,000. SG Americas Securities LLC purchased a new position in shares of Black Diamond Therapeutics during the second quarter worth about $108,000. Algert Global LLC acquired a new stake in shares of Black Diamond Therapeutics during the second quarter worth about $133,000. Jump Financial LLC lifted its holdings in shares of Black Diamond Therapeutics by 245.0% in 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. Finally, Rhumbline Advisers boosted its position in shares of Black Diamond Therapeutics by 10,334.3% in the 2nd quarter. Rhumbline Advisers now owns 46,850 shares of the company’s stock valued at $218,000 after purchasing an additional 46,401 shares during the period. 95.47% of the stock is 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.