Black Diamond Therapeutics (NASDAQ:BDTX) Price Target Raised to $11.00 at BTIG Research

Black Diamond Therapeutics (NASDAQ:BDTX) had its target price lifted by BTIG Research from $10.00 to $11.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

BDTX has been the subject of several other reports. Wedbush increased 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. Jefferies Financial Group upgraded Black Diamond Therapeutics to a “strong-buy” rating in a research note on Thursday, April 23rd. HC Wainwright restated a “buy” rating on shares of Black Diamond Therapeutics in a report on Wednesday. Zacks Research cut Black Diamond Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. Finally, Weiss Ratings upgraded Black Diamond Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Black Diamond Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $10.00.

Black Diamond Therapeutics Stock Down 4.8%

Shares of BDTX stock opened at $2.57 on Wednesday. Black Diamond Therapeutics has a 12 month low of $1.46 and a 12 month high of $4.94. The firm has a market cap of $147.23 million, a PE ratio of 6.95 and a beta of 3.38. The stock has a 50 day moving average of $2.46 and a 200-day moving average of $2.88.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its earnings results on Monday, March 16th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.04. As a group, equities analysts predict that Black Diamond Therapeutics will post -0.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Black Diamond Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Brookstone Capital Management bought a new position in Black Diamond Therapeutics during the first quarter worth about $30,000. Invesco Ltd. boosted its holdings in Black Diamond Therapeutics by 37.9% during the fourth quarter. Invesco Ltd. now owns 131,438 shares of the company’s stock worth $319,000 after buying an additional 36,094 shares during the last quarter. Mackenzie Financial Corp bought a new position in Black Diamond Therapeutics during the fourth quarter worth about $876,000. nVerses Capital LLC bought a new position in Black Diamond Therapeutics during the fourth quarter worth about $26,000. Finally, Stokes Family Office LLC bought a new position in Black Diamond Therapeutics during the fourth quarter worth about $27,000. Institutional investors own 95.47% of the company’s stock.

About Black Diamond Therapeutics

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.