Black Diamond Therapeutics’ (BDTX) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Black Diamond Therapeutics (NASDAQ:BDTX) in a research report released on Thursday morning,Benzinga reports.

A number of other brokerages have also recently commented on BDTX. Weiss Ratings reissued a “sell (d-)” rating on shares of Black Diamond Therapeutics in a research report on Friday, October 9th. Raymond James Financial reaffirmed an “outperform” rating on shares of Black Diamond Therapeutics in a research report on Thursday, August 6th. Jefferies Financial Group reiterated a “buy” rating on shares of Black Diamond Therapeutics in a research note on Thursday, August 6th. TD Cowen reissued a “buy” rating on shares of Black Diamond Therapeutics in a report on Thursday, August 6th. Finally, Wall Street Zen raised Black Diamond Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, October 24th. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Black Diamond Therapeutics has an average rating of “Moderate Buy” and an average target price of $11.00.

Black Diamond Therapeutics Price Performance

Shares of Black Diamond Therapeutics stock opened at $1.78 on Thursday. The firm has a market cap of $102.26 million, a price-to-earnings ratio of -2.37 and a beta of 3.32. Black Diamond Therapeutics has a 1 year low of $1.60 and a 1 year high of $4.94. The company has a 50-day moving average of $1.95 and a 200 day moving average of $2.19.

Black Diamond Therapeutics (NASDAQ:BDTX) last announced its earnings results on Wednesday, August 5th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.03. On average, equities analysts anticipate that Black Diamond Therapeutics will post -0.57 EPS for the current year.

Hedge Funds Weigh In On Black Diamond Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Beacon Capital Management LLC boosted its position in Black Diamond Therapeutics by 64.0% in the third quarter. Beacon Capital Management LLC now owns 25,615 shares of the company’s stock worth $48,000 after purchasing an additional 10,000 shares during the last quarter. Spark Investment Management LLC purchased a new stake in shares of Black Diamond Therapeutics in the second quarter worth $29,000. RB Capital Management LLC purchased a new stake in Black Diamond Therapeutics in the 2nd quarter worth $185,000. Empowered Funds LLC purchased a new stake in shares of Black Diamond Therapeutics during the second quarter worth about $459,000. Finally, Bank of America Corp DE bought a new stake in shares of Black Diamond Therapeutics during the second quarter valued at approximately $765,000. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

About Black Diamond Therapeutics

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.