Analysts Set Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) PT at $9.80

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) has been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $9.80.

A number of equities research analysts have recently commented on BDTX shares. HC Wainwright reaffirmed a “buy” rating on shares of Black Diamond Therapeutics in a research note on Friday, May 22nd. TD Cowen reiterated a “buy” rating on shares of Black Diamond Therapeutics in a research note on Thursday, August 6th. Jefferies Financial Group reissued a “buy” rating on shares of Black Diamond Therapeutics in a report on Thursday, August 6th. Raymond James Financial reissued an “outperform” rating on shares of Black Diamond Therapeutics in a report on Thursday, August 6th. Finally, Wall Street Zen lowered shares of Black Diamond Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th.

Black Diamond Therapeutics Stock Up 1.5%

Shares of BDTX opened at $2.05 on Friday. The company has a market capitalization of $117.77 million, a price-to-earnings ratio of -2.73 and a beta of 3.28. Black Diamond Therapeutics has a 52 week low of $1.60 and a 52 week high of $4.94. The stock’s 50-day moving average price is $1.83 and its 200-day moving average price is $2.25.

Black Diamond Therapeutics (NASDAQ:BDTX) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.03. As a group, equities analysts anticipate that Black Diamond Therapeutics will post -0.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Black Diamond Therapeutics

A number of institutional investors have recently modified their holdings of BDTX. Renaissance Technologies LLC raised its holdings in Black Diamond Therapeutics by 73.1% in the 1st quarter. Renaissance Technologies LLC now owns 1,643,747 shares of the company’s stock worth $3,501,000 after purchasing an additional 694,012 shares during the period. WINTON GROUP Ltd purchased a new position in Black Diamond Therapeutics during the fourth quarter worth approximately $1,024,000. Dimensional Fund Advisors LP grew its holdings in Black Diamond Therapeutics by 51.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,301,664 shares of the company’s stock valued at $2,772,000 after purchasing an additional 444,649 shares during the period. Brookstone Capital Management acquired a new stake in Black Diamond Therapeutics in the first quarter valued at approximately $30,000. Finally, Round Rock Advisors LLC acquired a new stake in Black Diamond Therapeutics in the fourth quarter valued at approximately $193,000. 95.47% of the stock is currently owned by institutional investors and hedge funds.

Black Diamond Therapeutics Company Profile

Black Diamond Therapeutics, Inc is a precision oncology company focused on the discovery and development of small-molecule therapies that selectively target oncogenic proteins bearing tumor-driving mutations. Leveraging its proprietary Genetic Defined Allosteric (GDA) therapeutic platform, the company aims to identify unique allosteric binding sites in mutant proteins and engineer highly selective inhibitors. Headquartered in Cambridge, Massachusetts, Black Diamond applies structure-based drug design and molecular modeling to advance personalized cancer treatments.

The company’s development pipeline includes lead candidate BDTX-189, an allosteric inhibitor of mutant HER2, as well as programs directed at clinically relevant EGFR and KRAS mutations.