Brokerages Set Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Target Price at $9.60

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) has been given an average rating of “Moderate Buy” by the seven analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $9.60.

A number of research analysts recently weighed in on BDTX shares. Weiss Ratings restated a “sell (d)” rating on shares of Black Diamond Therapeutics in a report on Wednesday, October 8th. Stifel Nicolaus assumed coverage on shares of Black Diamond Therapeutics in a research note on Wednesday, October 15th. They issued a “buy” rating and a $8.00 price target for the company. HC Wainwright reduced their price objective on Black Diamond Therapeutics from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, August 11th. Guggenheim assumed coverage on Black Diamond Therapeutics in a research note on Wednesday, September 3rd. They issued a “buy” rating and a $8.00 price objective on the stock. Finally, Zacks Research lowered Black Diamond Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th.

Hedge Funds Weigh In On Black Diamond Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new stake in Black Diamond Therapeutics during the 3rd quarter worth $39,000. Man Group plc raised its holdings in shares of Black Diamond Therapeutics by 88.4% in the third quarter. Man Group plc now owns 78,326 shares of the company’s stock valued at $297,000 after buying an additional 36,749 shares during the last quarter. Kennedy Capital Management LLC boosted its stake in shares of Black Diamond Therapeutics by 97.3% during the third quarter. Kennedy Capital Management LLC now owns 129,944 shares of the company’s stock worth $492,000 after buying an additional 64,069 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Black Diamond Therapeutics by 549.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 896,853 shares of the company’s stock valued at $3,399,000 after acquiring an additional 758,709 shares during the period. Finally, UBS Group AG raised its stake in Black Diamond Therapeutics by 100.3% during the 3rd quarter. UBS Group AG now owns 628,416 shares of the company’s stock valued at $2,382,000 after acquiring an additional 314,716 shares during the last quarter. 95.47% of the stock is owned by institutional investors and hedge funds.

Black Diamond Therapeutics Price Performance

Shares of Black Diamond Therapeutics stock opened at $4.01 on Thursday. The stock’s 50-day moving average is $3.77 and its 200-day moving average is $2.93. The firm has a market cap of $228.45 million, a price-to-earnings ratio of 11.14 and a beta of 3.12. Black Diamond Therapeutics has a one year low of $1.20 and a one year high of $4.94.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its earnings results on Thursday, November 6th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.07. On average, equities analysts expect that Black Diamond Therapeutics will post -1.3 EPS for the current year.

About Black Diamond Therapeutics

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.