Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) have been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $9.3333.

A number of analysts recently issued reports on BDTX shares. Zacks Research upgraded shares of Black Diamond Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 8th. Stifel Nicolaus initiated coverage on Black Diamond Therapeutics in a report on Wednesday, October 15th. They set a “buy” rating and a $8.00 price objective for the company. Piper Sandler decreased their target price on Black Diamond Therapeutics from $9.00 to $8.00 and set an “overweight” rating for the company in a research report on Friday, January 16th. Weiss Ratings restated a “sell (d+)” rating on shares of Black Diamond Therapeutics in a research note on Monday, December 29th. Finally, Guggenheim downgraded Black Diamond Therapeutics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 3rd.

Hedge Funds Weigh In On Black Diamond Therapeutics

Large investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Black Diamond Therapeutics in the second quarter valued at $28,000. Bailard Inc. bought a new position in Black Diamond Therapeutics in the 2nd quarter worth about $39,000. Y Intercept Hong Kong Ltd purchased a new position in Black Diamond Therapeutics during the 2nd quarter valued at about $36,000. Catalyst Funds Management Pty Ltd purchased a new stake in shares of Black Diamond Therapeutics in the second quarter worth about $46,000. Finally, TD Asset Management Inc boosted its position in shares of Black Diamond Therapeutics by 10.7% in the third quarter. TD Asset Management Inc now owns 183,420 shares of the company’s stock valued at $695,000 after acquiring an additional 17,742 shares during the period. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Black Diamond Therapeutics Stock Up 2.0%

Black Diamond Therapeutics stock opened at $2.54 on Tuesday. Black Diamond Therapeutics has a 52 week low of $1.20 and a 52 week high of $4.94. The company’s 50 day moving average price is $2.75 and its two-hundred day moving average price is $3.17. The stock has a market cap of $144.72 million, a P/E ratio of 7.06 and a beta of 3.40.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.07. On average, equities analysts anticipate that Black Diamond Therapeutics will post -1.3 EPS for the current year.

About Black Diamond Therapeutics

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.