Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Given Average Rating of “Moderate Buy” by Analysts

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) have received an average rating of “Moderate Buy” from the eight analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $9.8333.

A number of research firms have recently commented on BDTX. Wedbush boosted their price objective on Black Diamond Therapeutics from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Black Diamond Therapeutics in a research report on Monday, December 29th. Piper Sandler cut their target price on Black Diamond Therapeutics from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Friday, January 16th. Finally, Zacks Research lowered Black Diamond Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th.

Institutional Investors Weigh In On Black Diamond Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Cerity Partners LLC acquired a new stake in shares of Black Diamond Therapeutics during the second quarter worth $26,000. Hudson Bay Capital Management LP acquired a new stake in shares of Black Diamond Therapeutics during the second quarter worth $26,000. nVerses Capital LLC acquired a new stake in shares of Black Diamond Therapeutics during the fourth quarter worth $26,000. Stokes Family Office LLC acquired a new stake in shares of Black Diamond Therapeutics during the fourth quarter worth $27,000. Finally, Brookstone Capital Management acquired a new stake in shares of Black Diamond Therapeutics during the first quarter worth $30,000. 95.47% of the stock is owned by institutional investors and hedge funds.

Black Diamond Therapeutics Stock Performance

BDTX opened at $2.92 on Friday. Black Diamond Therapeutics has a one year low of $1.31 and a one year high of $4.94. The stock’s fifty day moving average is $2.32 and its 200-day moving average is $2.94. The company has a market capitalization of $167.29 million, a PE ratio of 7.89 and a beta of 3.38.

Black Diamond Therapeutics (NASDAQ:BDTX) last posted its quarterly earnings data on Monday, March 16th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.04. On average, equities research analysts forecast that Black Diamond Therapeutics will post -1.3 EPS for the current fiscal year.

Black Diamond Therapeutics Company Profile

Black Diamond Therapeutics, Inc is a precision oncology company focused on the discovery and development of small-molecule therapies that selectively target oncogenic proteins bearing tumor-driving mutations. Leveraging its proprietary Genetic Defined Allosteric (GDA) therapeutic platform, the company aims to identify unique allosteric binding sites in mutant proteins and engineer highly selective inhibitors. Headquartered in Cambridge, Massachusetts, Black Diamond applies structure-based drug design and molecular modeling to advance personalized cancer treatments.

The company’s development pipeline includes lead candidate BDTX-189, an allosteric inhibitor of mutant HER2, as well as programs directed at clinically relevant EGFR and KRAS mutations.