Black Diamond Therapeutics, Inc. (NASDAQ:BDTX – Free Report) – Equities research analysts at Wedbush lifted their FY2023 earnings per share (EPS) estimates for shares of Black Diamond Therapeutics in a report issued on Tuesday, November 7th. Wedbush analyst R. Driscoll now forecasts that the company will post earnings per share of ($1.96) for the year, up from their prior forecast of ($2.30). Wedbush currently has a “Outperform” rating and a $10.00 target price on the stock. The consensus estimate for Black Diamond Therapeutics’ current full-year earnings is ($2.12) per share. Wedbush also issued estimates for Black Diamond Therapeutics’ Q4 2023 earnings at ($0.45) EPS, Q1 2024 earnings at ($0.48) EPS, Q2 2024 earnings at ($0.53) EPS, Q3 2024 earnings at ($0.58) EPS, Q4 2024 earnings at ($0.51) EPS, FY2024 earnings at ($2.09) EPS, FY2025 earnings at ($2.37) EPS, FY2026 earnings at ($2.06) EPS and FY2027 earnings at ($0.68) EPS.
Separately, Piper Sandler initiated coverage on shares of Black Diamond Therapeutics in a research report on Friday, July 14th. They issued an “overweight” rating and a $11.00 target price on the stock.
Black Diamond Therapeutics Trading Down 1.1 %
BDTX opened at $1.78 on Friday. The company has a market cap of $91.90 million, a price-to-earnings ratio of -0.84 and a beta of 2.52. The stock has a fifty day simple moving average of $2.65 and a two-hundred day simple moving average of $2.86. Black Diamond Therapeutics has a 12-month low of $1.22 and a 12-month high of $6.85.
Hedge Funds Weigh In On Black Diamond Therapeutics
A number of hedge funds have recently added to or reduced their stakes in the company. Jump Financial LLC bought a new stake in shares of Black Diamond Therapeutics in the 3rd quarter worth $32,000. Herbst Group LLC bought a new position in Black Diamond Therapeutics during the 2nd quarter valued at about $69,000. Charles Schwab Investment Management Inc. purchased a new stake in shares of Black Diamond Therapeutics during the 2nd quarter valued at about $73,000. Bank of Montreal Can purchased a new stake in shares of Black Diamond Therapeutics during the 2nd quarter valued at about $76,000. Finally, Cubist Systematic Strategies LLC grew its stake in shares of Black Diamond Therapeutics by 25.8% in the second quarter. Cubist Systematic Strategies LLC now owns 15,804 shares of the company’s stock worth $39,000 after acquiring an additional 3,244 shares during the period.
Insider Activity at Black Diamond Therapeutics
In related news, major shareholder Growth N. V. Biotech bought 400,000 shares of the business’s stock in a transaction dated Tuesday, October 17th. The shares were purchased at an average cost of $2.34 per share, with a total value of $936,000.00. Following the completion of the purchase, the insider now owns 8,517,839 shares in the company, valued at approximately $19,931,743.26. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 9.07% of the stock is owned by corporate insiders.
About Black Diamond Therapeutics
Black Diamond Therapeutics, Inc, a clinical-stage precision oncology medicine company, focuses on the discovery and development of therapies for patients with genetically defined cancers. The company's lead product candidate, BDTX-1535, a brain-penetrant, mutant selective, irreversible EGFR MasterKey inhibitor, designed to inhibit a family of oncogenic mutations, currently under Phase 1 clinical trial.
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