Black Diamond Therapeutics (NASDAQ:BDTX) Rating Reiterated by HC Wainwright

Black Diamond Therapeutics (NASDAQ:BDTX)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a report issued on Wednesday, Benzinga reports. They currently have a $11.00 target price on the stock. HC Wainwright’s price target would indicate a potential upside of 219.77% from the company’s current price.

Several other analysts have also recently weighed in on BDTX. Wedbush reaffirmed an “outperform” rating and set a $16.00 price objective on shares of Black Diamond Therapeutics in a research report on Tuesday. Raymond James initiated coverage on Black Diamond Therapeutics in a report on Wednesday, July 31st. They issued an “outperform” rating and a $20.00 price objective for the company. Finally, Piper Sandler boosted their target price on shares of Black Diamond Therapeutics from $12.00 to $15.00 and gave the company an “overweight” rating in a report on Monday, September 23rd.

Black Diamond Therapeutics Stock Down 3.1 %

Shares of BDTX stock opened at $3.44 on Wednesday. The firm has a market capitalization of $193.51 million, a price-to-earnings ratio of -2.07 and a beta of 2.47. The stock has a fifty day moving average of $5.13 and a 200 day moving average of $5.29. Black Diamond Therapeutics has a 52 week low of $1.62 and a 52 week high of $7.66.

Black Diamond Therapeutics (NASDAQ:BDTX) last posted its earnings results on Tuesday, August 6th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.03. Equities research analysts anticipate that Black Diamond Therapeutics will post -1.4 earnings per share for the current year.

Institutional Investors Weigh In On Black Diamond Therapeutics

A number of institutional investors have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC purchased a new stake in Black Diamond Therapeutics during the 1st quarter valued at about $82,000. SG Americas Securities LLC purchased a new stake in shares of Black Diamond Therapeutics during the second quarter valued at approximately $108,000. Algert Global LLC bought a new stake in shares of Black Diamond Therapeutics during the second quarter valued at approximately $133,000. Rhumbline Advisers raised its holdings in Black Diamond Therapeutics by 10,334.3% in 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 last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in Black Diamond Therapeutics in the 2nd quarter valued at approximately $280,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

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.