Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Stock Has Average Price Target of $10.25 According to Analysts

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) have been given a consensus recommendation of “Moderate Buy” by the eleven brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $10.25.

Several equities analysts have recently commented on BDTX shares. TD Cowen restated a “buy” rating on shares of Black Diamond Therapeutics in a research report on Thursday, August 6th. Raymond James Financial reaffirmed an “outperform” rating on shares of Black Diamond Therapeutics in a research note on Thursday, August 6th. Jefferies Financial Group reiterated a “buy” rating on shares of Black Diamond Therapeutics in a research report on Thursday, August 6th. Finally, Weiss Ratings downgraded Black Diamond Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, July 13th.

Hedge Funds Weigh In On Black Diamond Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Spark Investment Management LLC purchased a new stake in shares of Black Diamond Therapeutics during the 2nd quarter worth approximately $29,000. Brookstone Capital Management bought a new stake in Black Diamond Therapeutics in the first quarter worth $30,000. Hsbc Holdings PLC bought a new stake in Black Diamond Therapeutics in the second quarter worth $46,000. EFG International AG purchased a new stake in Black Diamond Therapeutics during the second quarter valued at $50,000. Finally, Sei Investments Co. purchased a new stake in Black Diamond Therapeutics during the first quarter valued at $85,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Black Diamond Therapeutics Price Performance

Shares of NASDAQ:BDTX opened at $1.81 on Friday. The company has a market capitalization of $103.98 million, a P/E ratio of -2.41 and a beta of 3.32. Black Diamond Therapeutics has a 1-year low of $1.60 and a 1-year high of $4.94. The firm’s 50 day simple moving average is $2.00 and its two-hundred day simple moving average is $2.17.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its earnings results on Wednesday, August 5th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.03. On average, sell-side analysts anticipate that Black Diamond Therapeutics will post -0.57 earnings per share for the current fiscal year.

Black Diamond Therapeutics Company Profile

Black Diamond Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for genetically defined cancers. The company uses its MasterKey platform to identify cancer-driving mutations and develop small-molecule therapies intended to address mutations across multiple tumor types, rather than focusing exclusively on a single tissue or cancer diagnosis.

Its pipeline has included brain-penetrant targeted therapies designed for patients with oncogenic alterations in pathways such as EGFR and RAF.