Black Diamond Therapeutics (NASDAQ:BDTX) Stock Rating Reaffirmed by Piper Sandler

Black Diamond Therapeutics (NASDAQ:BDTX)‘s stock had its “overweight” rating reiterated by Piper Sandler in a note issued to investors on Wednesday, Benzinga reports. They currently have a $12.00 price objective on the stock. Piper Sandler’s price target points to a potential upside of 170.27% from the company’s previous close.

Several other equities research analysts have also weighed in on the company. Wedbush increased their target price on Black Diamond Therapeutics from $10.00 to $16.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Black Diamond Therapeutics in a report on Friday, June 7th.

Black Diamond Therapeutics Stock Up 5.5 %

BDTX opened at $4.44 on Wednesday. The company’s 50-day moving average price is $5.36 and its 200 day moving average price is $4.56. Black Diamond Therapeutics has a fifty-two week low of $1.62 and a fifty-two week high of $7.66. The firm has a market cap of $249.75 million, a price-to-earnings ratio of -2.67 and a beta of 2.49.

Black Diamond Therapeutics (NASDAQ:BDTX) last posted its earnings results on Thursday, May 9th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.09. Research analysts anticipate that Black Diamond Therapeutics will post -1.47 earnings per share for the current year.

Institutional Investors Weigh In On Black Diamond Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Black Diamond Therapeutics during the first quarter worth $82,000. Jump Financial LLC lifted its stake in Black Diamond Therapeutics by 245.0% during the fourth quarter. Jump Financial LLC now owns 38,888 shares of the company’s stock valued at $109,000 after buying an additional 27,616 shares in the last quarter. Pale Fire Capital SE acquired a new position in shares of Black Diamond Therapeutics in the fourth quarter worth about $144,000. Citigroup Inc. acquired a new position in shares of Black Diamond Therapeutics in the third quarter worth about $176,000. Finally, Cornercap Investment Counsel Inc. purchased a new position in shares of Black Diamond Therapeutics in the fourth quarter worth approximately $233,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

Black Diamond Therapeutics Company Profile

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.