Black Diamond Therapeutics (NASDAQ:BDTX) Receives “Buy” Rating from HC Wainwright

Black Diamond Therapeutics (NASDAQ:BDTX)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a report released on Wednesday, Benzinga reports. They presently have a $11.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 209.42% from the stock’s current price.

Several other equities analysts have also recently weighed in on BDTX. Raymond James assumed coverage on shares of Black Diamond Therapeutics in a research note on Wednesday, July 31st. They set an “outperform” rating and a $20.00 target price for the company. Piper Sandler raised their price objective on Black Diamond Therapeutics from $12.00 to $15.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Finally, Wedbush reiterated an “outperform” rating and issued a $16.00 target price on shares of Black Diamond Therapeutics in a research report on Tuesday.

Black Diamond Therapeutics Stock Down 2.9 %

Shares of BDTX opened at $3.56 on Wednesday. Black Diamond Therapeutics has a 52 week low of $1.62 and a 52 week high of $7.66. The stock has a market cap of $199.98 million, a price-to-earnings ratio of -2.14 and a beta of 2.47. The business has a 50-day simple moving average of $5.23 and a two-hundred day simple moving average of $5.32.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its earnings results on Tuesday, August 6th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.03. On average, equities analysts anticipate that Black Diamond Therapeutics will post -1.4 earnings per share for the current fiscal year.

Institutional Trading of Black Diamond Therapeutics

Hedge funds have recently made changes to their positions in the business. Susquehanna Fundamental Investments LLC bought a new stake in Black Diamond Therapeutics during the first quarter worth approximately $82,000. SG Americas Securities LLC bought a new position in shares of Black Diamond Therapeutics during the 2nd quarter valued at approximately $108,000. Algert Global LLC bought a new position in shares of Black Diamond Therapeutics during the 2nd quarter valued at approximately $133,000. Rhumbline Advisers raised its holdings in Black Diamond Therapeutics by 10,334.3% during the 2nd quarter. Rhumbline Advisers now owns 46,850 shares of the company’s stock valued at $218,000 after buying an additional 46,401 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new stake in Black Diamond Therapeutics in the second quarter worth $280,000. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

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.