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

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) have been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $9.3333.

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

Institutional Trading of Black Diamond Therapeutics

Several large investors have recently modified their holdings of the company. R Squared Ltd purchased a new stake in Black Diamond Therapeutics during the second quarter valued at $25,000. Cerity Partners LLC bought a new stake in shares of Black Diamond Therapeutics during the 2nd quarter valued at about $26,000. Hudson Bay Capital Management LP purchased a new stake in shares of Black Diamond Therapeutics during the 2nd quarter valued at about $26,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Black Diamond Therapeutics in the 2nd quarter worth approximately $28,000. Finally, American Century Companies Inc. purchased a new position in shares of Black Diamond Therapeutics in the second quarter worth approximately $30,000. Institutional investors own 95.47% of the company’s stock.

Black Diamond Therapeutics Price Performance

BDTX opened at $2.56 on Tuesday. The firm has a market cap of $145.84 million, a PE ratio of 7.11 and a beta of 3.40. The stock has a 50-day moving average price of $2.88 and a 200-day moving average price of $3.18. Black Diamond Therapeutics has a 1 year low of $1.20 and a 1 year high of $4.94.

Black Diamond Therapeutics (NASDAQ:BDTX) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.07. As a group, sell-side 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.