Black Diamond Therapeutics (NASDAQ:BDTX) Price Target Raised to $12.00 at HC Wainwright

Black Diamond Therapeutics (NASDAQ:BDTX) had its price objective upped by equities researchers at HC Wainwright from $11.00 to $12.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock.

Several other analysts have also recently issued reports on the stock. Wedbush reaffirmed an “outperform” rating and issued a $11.00 price target (down from $16.00) on shares of Black Diamond Therapeutics in a report on Friday, March 7th. Stifel Nicolaus cut their target price on shares of Black Diamond Therapeutics from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Black Diamond Therapeutics has a consensus rating of “Buy” and a consensus price target of $14.60.

Black Diamond Therapeutics Stock Performance

Shares of NASDAQ BDTX opened at $1.72 on Tuesday. Black Diamond Therapeutics has a 1 year low of $1.59 and a 1 year high of $7.66. The stock’s 50-day simple moving average is $2.17 and its 200-day simple moving average is $2.93. The firm has a market cap of $97.46 million, a price-to-earnings ratio of -1.29 and a beta of 2.52.

Black Diamond Therapeutics (NASDAQ:BDTX) last posted its quarterly earnings data on Thursday, March 6th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.03. As a group, research analysts predict that Black Diamond Therapeutics will post -1.3 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Vestal Point Capital LP lifted its holdings in Black Diamond Therapeutics by 139.5% in the third quarter. Vestal Point Capital LP now owns 5,028,500 shares of the company’s stock worth $21,874,000 after acquiring an additional 2,928,500 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Black Diamond Therapeutics during the 3rd quarter worth approximately $3,032,000. Barclays PLC lifted its holdings in shares of Black Diamond Therapeutics by 201.9% in the 3rd quarter. Barclays PLC now owns 78,151 shares of the company’s stock worth $339,000 after purchasing an additional 52,265 shares during the last quarter. FMR LLC acquired a new position in Black Diamond Therapeutics during the 3rd quarter valued at approximately $779,000. Finally, SG Americas Securities LLC acquired a new position in Black Diamond Therapeutics during the 4th quarter valued at approximately $42,000. 95.47% of the stock is 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.