Black Diamond Therapeutics (NASDAQ:BDTX) Earns Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Black Diamond Therapeutics (NASDAQ:BDTX) in a report released on Wednesday morning, Benzinga reports. HC Wainwright currently has a $11.00 target price on the stock. HC Wainwright also issued estimates for Black Diamond Therapeutics’ Q4 2024 earnings at ($0.35) EPS, FY2024 earnings at ($1.44) EPS, Q1 2025 earnings at ($0.36) EPS, Q2 2025 earnings at ($0.37) EPS, Q3 2025 earnings at ($0.37) EPS, Q4 2025 earnings at ($0.38) EPS and FY2025 earnings at ($1.48) EPS.

A number of other research firms have also weighed in on BDTX. Piper Sandler raised their price target on shares of Black Diamond Therapeutics from $12.00 to $15.00 and gave the company an overweight rating in a research report on Monday, September 23rd. Raymond James assumed coverage on shares of Black Diamond Therapeutics in a research report on Wednesday, July 31st. They set an outperform rating and a $20.00 target price on the stock. Finally, Wedbush reaffirmed an outperform rating and issued a $16.00 target price on shares of Black Diamond Therapeutics in a report on Tuesday, October 8th.

Black Diamond Therapeutics Stock Performance

Shares of NASDAQ BDTX opened at $3.33 on Wednesday. The firm’s 50-day simple moving average is $5.08 and its 200 day simple moving average is $5.28. The stock has a market cap of $188.18 million, a price-to-earnings ratio of -2.22 and a beta of 2.47. Black Diamond Therapeutics has a fifty-two week low of $1.62 and a fifty-two week high of $7.66.

Black Diamond Therapeutics (NASDAQ:BDTX) last announced its earnings results 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. On average, sell-side analysts predict that Black Diamond Therapeutics will post -1.44 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC bought a new stake in shares of Black Diamond Therapeutics in the 1st quarter worth approximately $82,000. SG Americas Securities LLC bought a new stake in shares of Black Diamond Therapeutics in the second quarter valued at $108,000. Algert Global LLC purchased a new position in shares of Black Diamond Therapeutics during the 2nd quarter valued at $133,000. Rhumbline Advisers grew its stake in shares of Black Diamond Therapeutics by 10,334.3% during the 2nd quarter. Rhumbline Advisers now owns 46,850 shares of the company’s stock worth $218,000 after acquiring an additional 46,401 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new stake in Black Diamond Therapeutics in the 2nd quarter worth about $280,000. 95.47% of the stock is currently 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.