HC Wainwright Weighs in on Black Diamond Therapeutics, Inc.’s FY2024 Earnings (NASDAQ:BDTX)

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) – HC Wainwright raised their FY2024 earnings per share (EPS) estimates for shares of Black Diamond Therapeutics in a research note issued to investors on Wednesday, October 9th. HC Wainwright analyst R. Burns now forecasts that the company will post earnings per share of ($1.44) for the year, up from their previous estimate of ($1.46). HC Wainwright currently has a “Buy” rating and a $11.00 target price on the stock. The consensus estimate for Black Diamond Therapeutics’ current full-year earnings is ($1.44) per share. HC Wainwright also issued estimates for Black Diamond Therapeutics’ Q4 2024 earnings at ($0.35) 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.

Black Diamond Therapeutics (NASDAQ:BDTX) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.03.

Several other analysts have also commented on the company. Raymond James assumed coverage on Black Diamond Therapeutics in a research note on Wednesday, July 31st. They issued an “outperform” rating and a $20.00 price target on the stock. Piper Sandler increased their target price on shares of Black Diamond Therapeutics from $12.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Finally, Wedbush restated an “outperform” rating and issued a $16.00 price target on shares of Black Diamond Therapeutics in a research report on Tuesday, October 8th.

Black Diamond Therapeutics Stock Down 3.2 %

Shares of BDTX opened at $3.33 on Friday. The company has a 50-day moving average price of $5.08 and a two-hundred day moving average price of $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 12 month low of $1.62 and a 12 month high of $7.66.

Institutional Investors Weigh In On Black Diamond Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Affinity Asset Advisors LLC bought a new stake in Black Diamond Therapeutics during the 2nd quarter worth about $3,029,000. TD Asset Management Inc lifted its holdings in Black Diamond Therapeutics by 275.9% in the second quarter. TD Asset Management Inc now owns 266,312 shares of the company’s stock valued at $1,241,000 after buying an additional 195,464 shares during the period. Ally Bridge Group NY LLC bought a new position in Black Diamond Therapeutics in the second quarter valued at approximately $3,891,000. Acadian Asset Management LLC grew its holdings in Black Diamond Therapeutics by 13.8% during the 1st quarter. Acadian Asset Management LLC now owns 170,510 shares of the company’s stock worth $864,000 after acquiring an additional 20,616 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Black Diamond Therapeutics during the 1st quarter valued at $82,000. 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.