Wedbush Reiterates Outperform Rating for Black Diamond Therapeutics (NASDAQ:BDTX)

Black Diamond Therapeutics (NASDAQ:BDTX)‘s stock had its “outperform” rating reaffirmed by analysts at Wedbush in a research report issued on Friday,RTT News reports. They currently have a $11.00 price objective on the stock, down from their previous price objective of $16.00. Wedbush’s price objective indicates a potential upside of 485.11% from the stock’s current price. Wedbush also issued estimates for Black Diamond Therapeutics’ Q1 2026 earnings at ($0.22) EPS, Q2 2026 earnings at ($0.23) EPS, Q3 2026 earnings at ($0.23) EPS and Q4 2026 earnings at ($0.24) EPS.

Black Diamond Therapeutics Stock Down 1.1 %

BDTX stock opened at $1.88 on Friday. The business’s 50-day moving average price is $2.23 and its 200-day moving average price is $3.18. The stock has a market cap of $106.38 million, a P/E ratio of -1.41 and a beta of 2.52. Black Diamond Therapeutics has a twelve month low of $1.77 and a twelve month high of $7.66.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its quarterly earnings results on Thursday, March 6th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.03. On average, equities research analysts expect that Black Diamond Therapeutics will post -1.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Black Diamond Therapeutics

A number of institutional investors have recently bought and sold shares of BDTX. Intech Investment Management LLC purchased a new position in shares of Black Diamond Therapeutics in the third quarter valued at about $56,000. Charles Schwab Investment Management Inc. lifted its holdings in Black Diamond Therapeutics by 6.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 109,224 shares of the company’s stock worth $475,000 after purchasing an additional 7,021 shares in the last quarter. FMR LLC purchased a new stake in Black Diamond Therapeutics during the 3rd quarter valued at approximately $779,000. MetLife Investment Management LLC raised its position in shares of Black Diamond Therapeutics by 129.1% during the third quarter. MetLife Investment Management LLC now owns 22,286 shares of the company’s stock valued at $97,000 after buying an additional 12,557 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of Black Diamond Therapeutics during the third quarter valued at approximately $49,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

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.