Black Diamond Therapeutics (NASDAQ:BDTX) Given Buy Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Black Diamond Therapeutics (NASDAQ:BDTX) in a research note released on Wednesday morning, Benzinga reports. HC Wainwright currently has a $11.00 price objective on the stock. HC Wainwright also issued estimates for Black Diamond Therapeutics’ Q4 2024 earnings at ($0.35) EPS, FY2024 earnings at ($1.44) EPS, Q1 2025 earnings at ($0.36) EPS, Q2 2025 earnings at ($0.37) EPS, Q3 2025 earnings at ($0.37) EPS, Q4 2025 earnings at ($0.38) EPS and FY2025 earnings at ($1.48) EPS.

Other research analysts have also issued research reports about the stock. Piper Sandler boosted their target price on shares of Black Diamond Therapeutics from $12.00 to $15.00 and gave the stock an overweight rating in a research report on Monday, September 23rd. Wedbush restated an outperform rating and set a $16.00 target price on shares of Black Diamond Therapeutics in a research note on Tuesday. Finally, Raymond James initiated coverage on Black Diamond Therapeutics in a report on Wednesday, July 31st. They set an outperform rating and a $20.00 price target for the company.

Black Diamond Therapeutics Price Performance

BDTX opened at $3.33 on Wednesday. The stock’s 50 day moving average price is $5.08 and its 200 day moving average price is $5.28. The stock has a market cap of $188.18 million, a P/E ratio of -2.22 and a beta of 2.47. Black Diamond Therapeutics has a 12 month low of $1.62 and a 12 month high of $7.66.

Black Diamond Therapeutics (NASDAQ:BDTX) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.03. Equities analysts anticipate that Black Diamond Therapeutics will post -1.44 EPS for the current year.

Institutional Investors Weigh In On Black Diamond Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC bought a new stake in shares of Black Diamond Therapeutics during the 1st quarter valued at $82,000. SG Americas Securities LLC acquired a new position in Black Diamond Therapeutics during the second quarter valued at approximately $108,000. Algert Global LLC bought a new stake in Black Diamond Therapeutics during the second quarter worth $133,000. Rhumbline Advisers increased its position in Black Diamond Therapeutics by 10,334.3% during the second quarter. Rhumbline Advisers now owns 46,850 shares of the company’s stock worth $218,000 after buying an additional 46,401 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Black Diamond Therapeutics in the second quarter valued at $280,000. Institutional investors and hedge funds 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.