Black Diamond Therapeutics (NASDAQ:BDTX) Given Outperform Rating at Wedbush

Wedbush reaffirmed their outperform rating on shares of Black Diamond Therapeutics (NASDAQ:BDTX) in a research report report published on Wednesday,RTT News reports. Wedbush currently has a $11.00 price objective on the stock.

Other equities research analysts have also recently issued research reports about the stock. HC Wainwright raised their price objective on shares of Black Diamond Therapeutics from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday. Stifel Nicolaus lowered their price objective on shares of Black Diamond Therapeutics from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, March 7th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $14.60.

Black Diamond Therapeutics Stock Up 2.4 %

Shares of Black Diamond Therapeutics stock opened at $1.72 on Wednesday. The stock has a market capitalization of $97.46 million, a P/E ratio of -1.29 and a beta of 2.52. The company has a 50-day simple moving average of $2.17 and a 200 day simple moving average of $2.93. Black Diamond Therapeutics has a 12-month low of $1.59 and a 12-month high of $7.66.

Black Diamond Therapeutics (NASDAQ:BDTX) last posted its quarterly earnings data on Thursday, March 6th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.03. On average, equities analysts anticipate that Black Diamond Therapeutics will post -1.3 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN boosted its stake in shares of Black Diamond Therapeutics by 41.8% in the 4th quarter. Wells Fargo & Company MN now owns 20,119 shares of the company’s stock valued at $43,000 after purchasing an additional 5,932 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of Black Diamond Therapeutics by 49.1% in the 4th quarter. Intech Investment Management LLC now owns 19,247 shares of the company’s stock valued at $41,000 after purchasing an additional 6,340 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Black Diamond Therapeutics by 6.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 109,224 shares of the company’s stock valued at $475,000 after purchasing an additional 7,021 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Black Diamond Therapeutics by 14.9% in the 4th quarter. Rhumbline Advisers now owns 56,135 shares of the company’s stock valued at $120,000 after purchasing an additional 7,290 shares during the last quarter. Finally, Barclays PLC boosted its stake in Black Diamond Therapeutics by 10.7% during the 4th quarter. Barclays PLC now owns 86,545 shares of the company’s stock worth $186,000 after acquiring an additional 8,394 shares during the last quarter. Institutional investors own 95.47% of the company’s stock.

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.