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

HC Wainwright reiterated their buy rating on shares of Black Diamond Therapeutics (NASDAQ:BDTX) in a research report report published on Wednesday morning,Benzinga reports. They currently have a $11.00 target price 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.

A number of other brokerages have also recently issued reports on BDTX. Wedbush reaffirmed an “outperform” rating and issued a $16.00 target price on shares of Black Diamond Therapeutics in a report on Tuesday, October 8th. Raymond James initiated coverage on Black Diamond Therapeutics in a research note on Wednesday, July 31st. They issued an “outperform” rating and a $20.00 price objective for the company. Finally, Piper Sandler lifted 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.

Black Diamond Therapeutics Trading Up 3.5 %

BDTX opened at $3.29 on Wednesday. The company has a market cap of $186.15 million, a P/E ratio of -2.47 and a beta of 2.51. The company’s 50 day moving average is $4.10 and its 200-day moving average is $5.00. Black Diamond Therapeutics has a 1-year low of $1.62 and a 1-year high of $7.66.

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

Hedge Funds Weigh In On Black Diamond Therapeutics

A number of hedge funds have recently made changes to their positions in BDTX. Ally Bridge Group NY LLC bought a new stake in Black Diamond Therapeutics in the second quarter valued at approximately $3,891,000. Affinity Asset Advisors LLC acquired a new position in shares of Black Diamond Therapeutics in the 2nd quarter worth approximately $3,029,000. TD Asset Management Inc boosted 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 purchasing an additional 195,464 shares during the last quarter. Renaissance Technologies LLC increased its position 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 buying an additional 51,300 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Black Diamond Therapeutics by 79.1% during the second quarter. Dimensional Fund Advisors LP now owns 200,044 shares of the company’s stock worth $932,000 after buying an additional 88,378 shares during the period. 95.47% of the stock is currently owned by institutional investors.

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.