Black Diamond Therapeutics’ (BDTX) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Black Diamond Therapeutics (NASDAQ:BDTX) in a report issued on Wednesday,Benzinga reports. They currently have a $11.00 price target on the stock. HC Wainwright also issued estimates for Black Diamond Therapeutics’ Q4 2024 earnings at ($0.31) EPS, FY2024 earnings at ($1.29) EPS, Q1 2025 earnings at ($0.31) EPS, Q2 2025 earnings at ($0.32) EPS, Q3 2025 earnings at ($0.32) EPS, Q4 2025 earnings at ($0.33) EPS and FY2025 earnings at ($1.28) EPS.

Several other research analysts have also weighed in on BDTX. Wedbush reaffirmed an “outperform” rating and issued a $16.00 target price on shares of Black Diamond Therapeutics in a research report on Tuesday, October 8th. Raymond James began coverage on 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. Finally, Piper Sandler raised their price objective on Black Diamond Therapeutics from $12.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd.

Black Diamond Therapeutics Price Performance

Black Diamond Therapeutics stock traded up $0.11 during midday trading on Wednesday, hitting $3.29. 535,556 shares of the company were exchanged, compared to its average volume of 819,234. The company’s fifty day moving average price is $4.10 and its 200-day moving average price is $5.00. The company has a market cap of $185.92 million, a PE ratio of -2.19 and a beta of 2.51. Black Diamond Therapeutics has a fifty-two week low of $1.62 and a fifty-two week high of $7.66.

Black Diamond Therapeutics (NASDAQ:BDTX) last announced its earnings results on Tuesday, November 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.09. On average, analysts expect that Black Diamond Therapeutics will post -1.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Black Diamond Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Ally Bridge Group NY LLC bought a new stake in Black Diamond Therapeutics during the second quarter worth $3,891,000. Affinity Asset Advisors LLC bought a new position in shares of Black Diamond Therapeutics in the 2nd quarter valued at $3,029,000. TD Asset Management Inc lifted its stake in shares of Black Diamond Therapeutics by 275.9% in the 2nd quarter. TD Asset Management Inc now owns 266,312 shares of the company’s stock valued at $1,241,000 after acquiring an additional 195,464 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Black Diamond Therapeutics by 24.1% in the 2nd quarter. Renaissance Technologies LLC now owns 263,900 shares of the company’s stock valued at $1,230,000 after acquiring an additional 51,300 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Black Diamond Therapeutics by 79.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 200,044 shares of the company’s stock valued at $932,000 after acquiring an additional 88,378 shares during the last quarter. Institutional investors and hedge funds own 95.47% of the company’s stock.

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.