Wedbush Reaffirms “Outperform” Rating for Black Diamond Therapeutics (NASDAQ:BDTX)

Wedbush reiterated their outperform rating on shares of Black Diamond Therapeutics (NASDAQ:BDTX) in a research report released on Tuesday, Benzinga reports. Wedbush currently has a $16.00 target price on the stock.

Several other equities analysts also recently weighed in on the company. HC Wainwright reissued a buy rating and set a $11.00 price target on shares of Black Diamond Therapeutics in a research report on Wednesday, September 4th. Piper Sandler reissued an overweight rating and set a $12.00 price target on shares of Black Diamond Therapeutics in a research report on Wednesday, July 3rd. Finally, Raymond James initiated coverage on Black Diamond Therapeutics in a research report on Wednesday, July 31st. They set an outperform rating and a $20.00 price target for the company.

Black Diamond Therapeutics Price Performance

NASDAQ BDTX opened at $6.19 on Tuesday. Black Diamond Therapeutics has a 1-year low of $1.62 and a 1-year high of $7.66. The company has a market capitalization of $348.21 million, a P/E ratio of -3.73 and a beta of 2.49. The business has a 50 day moving average price of $5.68 and a 200 day moving average price of $5.33.

Black Diamond Therapeutics (NASDAQ:BDTX) last released 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. On average, research analysts expect that Black Diamond Therapeutics will post -1.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Black Diamond Therapeutics

Several hedge funds have recently made changes to their positions in the business. Bellevue Group AG boosted its holdings in shares of Black Diamond Therapeutics by 4.9% during the fourth quarter. Bellevue Group AG now owns 8,535,839 shares of the company’s stock worth $23,986,000 after purchasing an additional 400,000 shares during the last quarter. Ally Bridge Group NY LLC acquired a new stake in shares of Black Diamond Therapeutics during the second quarter worth $3,891,000. Affinity Asset Advisors LLC acquired a new stake in shares of Black Diamond Therapeutics during the second quarter worth $3,029,000. TD Asset Management Inc boosted its holdings in shares of Black Diamond Therapeutics by 275.9% during the second quarter. TD Asset Management Inc now owns 266,312 shares of the company’s stock worth $1,241,000 after purchasing an additional 195,464 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Black Diamond Therapeutics by 24.1% during the second quarter. Renaissance Technologies LLC now owns 263,900 shares of the company’s stock worth $1,230,000 after purchasing an additional 51,300 shares during the last quarter. 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.