Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Receives $9.83 Average Price Target from Analysts

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) have received an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $9.8333.

A number of analysts have commented on BDTX shares. Piper Sandler decreased their target price on Black Diamond Therapeutics from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Friday, January 16th. Wedbush raised their price target on Black Diamond Therapeutics from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Tuesday, March 17th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Black Diamond Therapeutics in a research note on Monday, December 29th. Guggenheim lowered shares of Black Diamond Therapeutics from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 3rd. Finally, Zacks Research cut shares of Black Diamond Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Invesco Ltd. raised its position in shares of Black Diamond Therapeutics by 152.5% during the 1st quarter. Invesco Ltd. now owns 45,989 shares of the company’s stock worth $71,000 after purchasing an additional 27,777 shares during the last quarter. AQR Capital Management LLC acquired a new stake in Black Diamond Therapeutics during the 1st quarter valued at $84,000. Catalyst Funds Management Pty Ltd acquired a new stake in Black Diamond Therapeutics during the 2nd quarter valued at $46,000. American Century Companies Inc. purchased a new position in Black Diamond Therapeutics during the second quarter worth $30,000. Finally, Prudential Financial Inc. purchased a new position in Black Diamond Therapeutics during the second quarter worth $32,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

Black Diamond Therapeutics Trading Down 0.5%

BDTX stock opened at $2.14 on Wednesday. The firm has a 50 day moving average of $2.36 and a 200-day moving average of $3.04. Black Diamond Therapeutics has a 12-month low of $1.20 and a 12-month high of $4.94. The company has a market cap of $122.60 million, a price-to-earnings ratio of 5.78 and a beta of 3.34.

Black Diamond Therapeutics (NASDAQ:BDTX) last released its quarterly earnings results on Monday, March 16th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.04. Sell-side analysts forecast that Black Diamond Therapeutics will post -1.3 earnings per share for the current fiscal year.

Black Diamond Therapeutics Company Profile

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.