Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Stock Has Average Price Target of $11.00

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) has been given an average rating of “Moderate Buy” by the ten brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $11.00.

Several research firms have commented on BDTX. HC Wainwright reiterated a “buy” rating on shares of Black Diamond Therapeutics in a report on Thursday, October 29th. Raymond James Financial reaffirmed an “outperform” rating on shares of Black Diamond Therapeutics in a research report on Thursday, August 6th. TD Cowen reiterated a “buy” rating on shares of Black Diamond Therapeutics in a research note on Thursday, August 6th. Wall Street Zen upgraded Black Diamond Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, October 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Black Diamond Therapeutics in a report on Friday, October 9th.

Black Diamond Therapeutics Price Performance

Shares of NASDAQ BDTX opened at $1.75 on Thursday. Black Diamond Therapeutics has a 52-week low of $1.60 and a 52-week high of $4.94. The business’s 50 day moving average is $1.94 and its two-hundred day moving average is $2.19.

Black Diamond Therapeutics (NASDAQ:BDTX) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.03. Sell-side analysts expect that Black Diamond Therapeutics will post -0.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Black Diamond Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC acquired a new stake in shares of Black Diamond Therapeutics in the 3rd quarter worth approximately $59,000. Beacon Capital Management LLC boosted its position in Black Diamond Therapeutics by 64.0% during the third quarter. Beacon Capital Management LLC now owns 25,615 shares of the company’s stock worth $48,000 after acquiring an additional 10,000 shares during the last quarter. Spark Investment Management LLC acquired a new position in Black Diamond Therapeutics in the second quarter valued at $29,000. RB Capital Management LLC purchased a new stake in Black Diamond Therapeutics in the second quarter valued at approximately $185,000. Finally, Empowered Funds LLC acquired a new position in shares of Black Diamond Therapeutics in the 2nd quarter valued at $459,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

Black Diamond Therapeutics Company Profile

Black Diamond Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for genetically defined cancers. The company uses its proprietary MasterKey platform to identify and develop small-molecule therapies designed to address oncogenic mutations across multiple tumor types, including alterations that may be difficult to target with conventional approaches.

Black Diamond’s pipeline has included brain-penetrant therapies for cancers affecting the central nervous system.