Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) have been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $9.50.

Several research firms recently issued reports on BDTX. Zacks Research cut shares of Black Diamond Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Stifel Nicolaus initiated coverage on Black Diamond Therapeutics in a report on Wednesday, October 15th. They issued a “buy” rating and a $8.00 price objective for the company. Guggenheim downgraded shares of Black Diamond Therapeutics from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 3rd. Piper Sandler initiated coverage on shares of Black Diamond Therapeutics in a research note on Tuesday, November 18th. They set an “overweight” rating and a $9.00 price target for the company. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Black Diamond Therapeutics in a research note on Monday.

Institutional Trading of Black Diamond Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. R Squared Ltd purchased a new position in shares of Black Diamond Therapeutics in the 2nd quarter valued at approximately $25,000. Cerity Partners LLC acquired a new stake in shares of Black Diamond Therapeutics during the second quarter worth $26,000. Hudson Bay Capital Management LP acquired a new stake in shares of Black Diamond Therapeutics during the second quarter worth $26,000. Wealth Enhancement Advisory Services LLC purchased a new position in Black Diamond Therapeutics in the 2nd quarter valued at $28,000. Finally, American Century Companies Inc. acquired a new position in Black Diamond Therapeutics in the 2nd quarter valued at $30,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

Black Diamond Therapeutics Trading Down 2.4%

Shares of NASDAQ BDTX opened at $2.43 on Friday. Black Diamond Therapeutics has a 12 month low of $1.20 and a 12 month high of $4.94. The company has a 50 day simple moving average of $3.37 and a two-hundred day simple moving average of $3.16. The stock has a market cap of $138.44 million, a price-to-earnings ratio of 6.75 and a beta of 3.40.

Black Diamond Therapeutics (NASDAQ:BDTX) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.07. Analysts forecast 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.